AÂ team that comprisesÂ Lockheed Martin and Korean Aerospace IndustriesÂ was the only group to submitÂ aÂ proposal to develop South Korea’s $7.8 billion fighter jet program, Defense News reported Sunday.
Jung Sung-ki writes the KoreanÂ Defense Acquisition Program Administration will conduct a second bidding process through Feb. 24 to solicit proposals from other companies for the KF-X program.
At least two bidders must participate in all defense development and manufacturing programs under the countryâ€™s acquisition policies, according to the report.
The potential contractor will build an F-16 class twin-engine jet over the next eight years under the program, the report says.
Korean Air said the company is preparing to bid for the program in collaboration with Airbus Defense and Space, JungÂ reports.
South Korea plans to replace the legacy F-4 and F-5 jets with 120 fighters after 2023, Defense News reports.