Three foreign bidders submitted their official proposals on Monday for a multi-billion dollar fighter jet deal in Korea.

The project, worth W8.3 trillion (US$1=W1,158), aims to procure 60 new fighter jets by 2021. The three bidders include U.S. giants Boeing with its F-15 Silent Eagle and Lockheed Martin with its F-35.

The European Aeronautic Defence and Space Company is also in the bidding with its Eurofighter.