March 31, 2014 11:30
Korea will export 12 FA-50 light fighter jets to the Philippines in a deal worth US$420 million.
The Defense Acquisition Program Administration and the Korea Trade Investment Promotion Agency signed the export deal in Manila on March 28 with Philippine Defense Secretary Voltaire Gazmin.
The contract marks the third such deal involving the T-50 line of jets following sales to Indonesia in 2011 of 16 jets and to Iraq last year of 24 fighters.
The FA-50 was developed by Korea Aerospace Industries based on its T-50 supersonic trainer jet.
The deal with Manila was smoothed by Korea's dispatch of troops to assist in rescue and rebuilding efforts after typhoon Haiyan struck the island country in November last year.
The KAI is also in talks to sell the T-50 line of jets to Botswana, Peru, Thailand, United Arab Emirates and the U.S.
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