South Korea has launched a plan to purchase four early warning and control aircraft, commonly known as AWACs, by 2011.

The Defense Ministry said on Thursday that under the two-trillion won procurement project, it has selected two final contenders - the B-7-37 of U.S. Boeing and the G-5-50 of Israel Aircraft Industries - after examining five different aircraft from companies of the U.S., France and Israel.

The Ministry plans to select a final winner in November on the basis of its review of price, performance and technology transfer.