State firm named sole bidder in deal to develop South Korean fighter jet with Lockheed Martin

March 30, 2015 8:15 AM

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SEOUL, South Korea – South Korea has chosen a state-run aircraft maker as the sole preferred bidder for a contract to develop a midlevel fighter jet for about $7.8 billion with the help of Lockheed Martin Corp.

Officials say it's South Korea's biggest-ever weapons development project.

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