The Pentagon notified Congress of a proposed foreign military sale of Patriot missiles to South Korea that would be worth an estimated $404 million when factoring all associated equipment, spare parts, and logistical support, according to a release. South Korea currently fields around 300 Patriot missiles to protect against North Korean threats, but they are an older model, reported South Korea’s Chosun Ilbo on Oct. 28. The proposed sale includes 112 Raytheon-supplied Patriot missiles that would then receive the upgrade to the Guided Enhanced Missile-Tactical configuration via a direct commercial sale. “These upgraded missiles will provide [South Korea] with an enhanced capability to defend against ballistic missile, aircraft, and cruise missile threats,” and will aid in interoperability with US forces, states the Defense Security Cooperation Agency’s Oct. 25 announcement. The Defense Department announced the sale on the same day that Defense Secretary Chuck Hagel hosted South Korea’s National Security Advisor Kim Jang Soo at the Pentagon. Hagel and Kim discussed the importance of maintaining a “robust combined defense” of the Korean Peninsula as a strong deterrent against North Korean provocations, according to a Pentagon release.
Lockheed Martin projects more than a billion dollars of losses on a classified program, but company officials said April 23 they are confident it will turn profitable by 2028 and become a "franchise" system in the U.S. military.