EADS Offers $2 Billion Investment In South Korea Eurofighter Deal
01:06 PM, May 24, 2013
EADS is offering a $2 billion investment as it gears up to compete against U.S rivals for a contract to provide 60 advanced fighter planes to South Korea.
This offer is focused on South Korea's KF-X program aimed at developing an indigenous multi-role combat fighter. EADS officials announced Thursday that they would invest separately into the South Korean project to develop its own advanced fighter jets, if it is chosen for the combat aircraft contract valued at $7.2 billion.
Boeing's F-15 Silent Eagle, Lockheed Martin's F-35 Lightning II and the EADS Eurofighter Typhoon are in the running for the fighter procurement deal and they are expected to be zeroed in by the end of next month.
"If the assembly of the Eurofighter and the KF-X program are conducted at the same time in Korea, it will bring economic effects worth dozens of trillions of won and create 50,000 jobs in Korea," the EADS statement said. EADS has promised Soeul that 53 of the 60 Eurofighters will be assembled in South Korea, if it wins the contract.