The Philippines has inked a $700 million agreement with South Korea's KAI to acquire 12 advanced FA-50 fighter jets by 2030, enhancing its military capabilities amid regional tensions.
A South Korean defense firm has inked an agreement with the Philippines Defense Ministry to provide 12 FA-50 light attack fighters by 2030, Yonhap News reported on Wednesday, citing the state arms procurement agency. The Korea Aerospace Industries (KAI) signed the $700 million agreement on Tuesday, one year after another deal to supply 12 FA-50s.
South Korean Minister of Defense Acquisition Program Administration (DAPA) Seok Jong-gun and Philippine Defense Secretary Gilberto Teodoro had discussed arms industry cooperation in Manila in March. Seoul signed approximately $3 billion worth of arms deals with the Philippines over the last decade, including fighter jets, frigates, and corvettes, making Manila South Korea's largest arms trade partner in Southeast Asia. "The deal to supply additional FA-50 aircraft is expected to contribute to expanding bilateral military exchanges, as well as stabilizing security in Southeast Asia," DAPA said.
So far, the fighter jet has been exported to six countries: Indonesia, Iraq, Malaysia, Poland, Thailand, and the Philippines, with Malaysia signing the most recent deal for 18 jets in 2023. The FA-50 is an advanced version of the KAI T-50 Golden Eagle, the first South Korean supersonic advanced jet trainer, light combat aircraft, and light fighter. The KAI collaborated with Lockheed Martin of the US to develop it.
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As Argentina’s unemployment hits a four-year high, the spotlight has turned to the libertarian administration of President Javier Milei, whose sweeping economic reforms are reshaping the country’s social and labour landscape.
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US President Donald Trump said Friday that a major deal with Harvard University could be announced soon.
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