Lockheed Martin News Release:

Republic of Korea Selects Lockheed Martin F-35A Lightning II

FORT WORTH, Texas, March 24, 2014 – The Republic of Korea has formally announced its decision to procure the Lockheed Martin (NYSE:LMT) F-35 Lightning II aircraft for its F-X fighter acquisition program.

“We are honored by and appreciate the trust and confidence the Republic of Korea has placed in the 5th Generation F-35 to meet its demanding security requirements. We look forward to supporting the discussions between the Republic of Korea and U.S. governments in support of a final agreement this year,” said Orlando Carvalho, Lockheed Martin Aeronautics executive vice president.  “This decision strengthens and extends our long-standing security partnership while enhancing regional stability across the greater Asia Pacific theater.”

Following a comprehensive evaluation process for their F-X program, the Republic of Korea becomes the third Foreign Military Sales country to procure the F-35, joining Israel and Japan who selected the F-35A in 2010 and 2011, respectively.

The program also currently includes participation from three U.S. military service branches and eight international partner countries. Three distinct variants of the F-35 will replace the A-10 and F-16 for the U.S. Air Force, the F/A-18 for the U.S. Navy, the F/A-18 and AV-8B Harrier for the U.S. Marine Corps, and a variety of fighter aircraft for at least 10 other countries.

Headquartered in Bethesda, Md., Lockheed Martin is a global security and aerospace company that employs approximately 115,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation’s net sales for 2013 were $45.4 billion.