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S. Korea finalizes F-16 upgrade deal with BAE

By Kim Eun-jung SEOUL, Dec. 24 (Yonhap) -- South Korea has finalized a deal with the U.S. government to have BAE Systems upgrade its aging fleet of more than 130 F-16 fighters to improve their electronic warfare capabilities, the state arms procurement agency said Tuesday. Under the foreign military sales program, South Korea's Defense Acquisition Program Administration and the U.S. defense ministry signed a letter of agreement to upgrade 134 aircraft of the KF-16 variants C and D Block 52.

U.S. missionary jailed in North Korea 'alone and ailing': mother

(Reuters) - The mother of jailed U.S. missionary Kenneth Bae, who is serving a 15-year sentence for state subversion in North Korea, said that her son remained isolated and was desperate for contact to the outside world a year after he was first detained. Myunghee Bae, in an op-ed published in the Seattle Times, provided details about her October visit to the Pyongyang hospital where her son, who is diabetic, was recovering from health ailments that saw him lose 50 pounds in three months.

BAE Systems' U.S. CEO to retire in 2014

By Andrea Shalal-Esa WASHINGTON (Reuters) - Linda Hudson, chief executive officer of the U.S. unit of Britain's BAE Systems Plc <BAES.L>, will retire early next year, the weapons maker said on Tuesday. The company said it would start a search for a successor. Hudson, 62, joined BAE in 2007 and took over as CEO of the U.S. unit in 2009.

Ex-exec quizzed over CJ's overseas property deal

SEOUL, June 5 (Yonhap) -- A former CJ Group executive suspected of playing a key role in managing a massive slush fund for the conglomerate's chairman was questioned by prosecutors over a suspicious overseas real estate deal, according to sources Wednesday. A prosecution probe into the food and entertainment conglomerate has been expanded to include its chairman Lee Jae-hyun, who is suspected of orchestrating the creation of a massive offshore slush fund and tax evasion.

US defense industry in late surge to stop spending cuts

* Industry sees cuts as "doomsday machine" * Some say big contractors wouldn't feel immediate impact By Susan Cornwell WASHINGTON, Feb 1 (Reuters) - An anxious U.S. defense industry has launched a new push to galvanize lawmakers who are doing little to stop the massive federal spending cuts due to kick in on March 1.
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