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By Jung Sung-ki
Negotiations between South Korea’s arms procurement agency and a U.S. aerospace company over the sale of up-to-date military transport planes have ruptured due to a disagreement on the price of the product, industry sources said Sunday.The failure in the projected contract of the C-130J Super Hercules built by Lockheed Martin was largely due to a “miscalculation” by Seoul’s Defense Acquisition Program Administration (DAPA) of the program costs, according to sources.“By May, the negotiations over the purchase of C-130J planes were actually broken off,” a Seoul source privy to the negotiations told The Korea Times. “The problem was that the DAPA estimated the costs for the aircraft program too low. There was a 20-percent gap between the DAPA-estimated costs and those presented by Lockheed Martin.”
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