WASHINGTON (Sputnik) — The contract provides personnel training and training equipment; publications and technical data; US government and contractor technical assistance; and logistics support, the release added.
"The State Department has made a determination approving a possible Foreign Military Sale to the Republic of Korea for SM-2 Block IIIB Standard missiles, containers and support. The estimated cost is $65 million," the release stated.
The South Korean Navy intends to use the missiles to supplement its existing inventory, according to the release.
"The proposed sale will provide a defensive capability while enhancing interoperability with US and other allied forces," the release noted.
Raytheon Electric Systems in Tuscon, Arizona is the prime contractor for the missile sale.