The U.S. Defense Security Cooperation Agency said Friday the State Department has approved the sale of the SM-2 Block IIIB standard surface-to-air missiles to South Korea at the cost of about 314 million dollars.

In a press release, the agency also said that South Korea has requested the purchase of 94 of the missiles and related technical assistance.

The agency, which is under the Department of Defense, also added that the missile sale will satisfy the security and defense needs of one of America's closest allies in the Pacific Command and thereby support U.S. diplomacy and national security goals.

It noted that South Korea is a major political and economic presence in East Asia and the Western Pacific region and a key U.S. partner for peace and security in the area.