South Korea has offered to buy a significant quantity of Israeli-made weapons and defense systems, including the anti-rocket Iron Dome system, if Israel agrees to purchase South Korean fighter jets.

The defense industries of South Korea and Italy are locked in a fierce competition for the contract, worth approximately $1 billion. Last week, the Israel Air Force recommended purchasing the Italian planes.

The Israel Air Force is looking to replace its aging fleet of American-made A-4 Skyhawk jets, which are used to train fighter pilots. The two alternatives being considered are the Korean-made T-50 Golden Eagle and Italy's M-346 Master.