The possibility is varied.
Korean platforms are on par with nato systems, can go head to head with any naval vessels in the region. But considering that Korean export platforms don't offer VLS, BN might not choose it for that reason,also take in the financial factors.
On the other hand new Chinese platforms are extremely good. China has come a long way in Naval ship building. Their designs coupled with VLS,modern weaponry and state of the art electronics means they can challenge anything any regional player has. And also you should keep in mind all this comes in a lower price. And China always offers BD such financial terms, no other can match. So the game is on China. I will bet my money that, it's China who is going to be the winner of next frigate program.