Pentagon Approves BAE's F-16 Upgrade Sale to South Korea

(Reuters)—The United States Defense Department has approved a deal under which the U.S. unit of Britain's BAE Systems Plc would upgrade 134 older F-16 fighter jets for South Korea, the Defense Security Cooperation Agency (DSCA) notified Congress on Monday.

The approval is a significant boost for BAE Systems, one of the Pentagon's largest defense contractors, which hopes to win similar deals in other countries that aim to upgrade their current F-16 jets.

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