TEMPO.CO, Jakarta - The Philippines is to acquire a squadron of FA-50 fighters from South Korea in a deal worth US$422 million (18.9 billion pesos), a senior Philippine defense official said on Friday, boosting its capability as tension simmers in the South China Sea, as reported by Reuters.
Fernando Manalo, undersecretary of defense for finance, munitions, installations and materiel, said the government had reached an agreement with Korean Aerospace Industries Ltd. for 12 of the aircraft and would sign a contract before March 15.
"This is a very important project together with the frigate of the navy because of our objective of building a minimum credible defense," Manalo told reporters, Friday, February 21, 2014.
The Philippines has embarked on a five-year, 75 billion-pesos ($1.68 billion) modernization program to improve its capability to defend its maritime borders against the creeping expansion of China in the South China Sea.
REUTERS | EKO ARI
