Boeing, EADS and Lockheed Martin submitted proposals for Korea’s FX-III fighter jet procurement program, the Defense Acquisition Program Administration announced Monday.

Under the program, Seoul will acquire 60 new fighter jets to replace its aging F-4 and F-5 jets, at an estimated cost of 8.3 trillion won ($7.2 billion), making it the largest single weapons procurement program conducted by Korea.

The DAPA and concerned government bodies will now conduct tests and evaluations according to 150 criteria within four main standards. The standards are cost, ability to meet the required operation capabilities, interoperability, and economic and technological benefits.

The authorities plan to make the final selection in October.

Boeing is bidding for the contract with the F-15 Silent Eagle, while Lockheed Martin has entered the F-35. EADS is competing with the Eurofighter.

(cheesuk@heraldcorp.com)