South Korea may delay an acquisition decision on a billion-dollar project to equip its armed forces with four aerial refueling aircraft.

According to Chosun Ilbo, selection by South Korea of one of three aircraft types was scheduled for next month but may now take place next February.

"It seems that the plan to choose the model in December will be delayed because offset deals offered by bidders fall short of our goal, although price negotiations have reached the final stage," an unidentified official with the Defense Acquisition Program Administration was quoted as saying.

Three models of aircraft are being considered for acquisition: Boeing's KC-46A, Airbus' A330 MRTT, and Israel's IAI's 767 MMTT.

The KC-46 can carry 96.1 tons of fuel and as many as 114 personnel. The A330 MRTT is capable of carrying 111 tons of fuel and as many as 266 troops but the aircraft is so large some Korean airports would have difficulty handling it.

Additional information about the possible selection delay was not disclosed.