It's not easy being South Korea. With two aggressive and not-so-friendly neighbors living nearby, the democratic nation is feeling antsy, and looking to buy a few good fighter jets to help ease its nerves.

Both Boeing (NYSE:BA) and Lockheed Martin (NYSE:LMT) are competing to sell Korea the planes it needs. Both Boeing stock and Lockheed Martin stock could benefit from the billions of dollars Korea wants to spend to beef up its defense.

And they're not the only ones. Motley Fool contributor Rich Smith explains...

Motley Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of L-3 Communications Holdings, Lockheed Martin, and Northrop Grumman. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.