|Lockheed Martin F-35 Lightning II|
South Korea’s Defense Acquisition Program Administration in a statement on its website said "Boeing’s F-15 Silent Eagle, Lockheed’s F-35 Lightning II and the Eurofighter Typhoon are in the race for the defense contract" .
South Korea in October announced to buy 60 fighter planes and is likely to spend 8 trillion won which is $7 billion.
Earlier in 2002 and 2007 South Korea has ordered 60 F-15's from Boeing.
Asian countries are increasing their defense budgets and spending on defense products is estimated to increase by 4.2 percent anually until 2016.