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State Department OKs Potential $5B F-35 Aircraft, Engine Sale to South Korea

The State Department has approved South Korea’s request to procure Lockheed Martin-manufactured (NYSE: LMT) fighter jets and Pratt & Whitney-built engines from the U.S. government under a potential $5.06 billion foreign military sales agreement.

The potential FMS deal includes 25 F-35 conventional take-off and landing aircraft and up to 26 F135-PW-100 engines, the Defense Security Cooperation Agency said Wednesday.

South Korea also requested spare parts, communications, precision navigation and cryptographic devices as well as training, technical documents and publications and contractor logistics support.

Lockheed and RTX (NYSE: RTX) subsidiary Pratt & Whitney will serve as the principal contractors on the proposed deal.

DSCA noted that South Korea will use the aircraft to enhance its air-to-air and air-to-ground defense capability and boost interoperability with U.S. forces.

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