South Korea has picked General Electric Co to supply engines for its homegrown KF-X fighter jet project, preferring the U.S. giant over a European consortium in a deal that could be worth an estimated $3.5 billion. The decision, announced on Thursday by the country's arms procurement agency marks the latest step in Seoul's multi-billion dollar plans to develop its own fighter jets to reduce its heavy reliance on the U.S. military for air defense. Financial details weren't disclosed, but South Korean media have estimated the deal could be worth about 4.08 trillion won.
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South Korea picks GE to supply engines for homegrown fighter jets
