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South Korea Requests PAC-3 Missiles Worth $1.4 Billion

Friday, November 7th, 2014

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The State Department has approved a possible $1.4 billion Foreign Military Sale (FMS) to South Korea for Patriot Advanced Capability (PAC-3) missiles and associated equipment, parts, and logistical support, the Pentagon said this week. The Defense Security Cooperation Agency (DSCA) notified Congress of the potential sale on Nov. 5. The primary contractors would be Raytheon [RTN] and Lockheed Martin [LMT] if Congress approves the deal. The requested sale includes 136 PAC-3 missiles with containers, two Flight Test Targets (Patriot-As-A-Target or…

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