Korea Aerospace wins $1 billion order for fighter jets

SEOUL Mon May 6, 2013 8:44pm EDT

SEOUL (Reuters) - Korea Aerospace Industries Ltd (KAI) (047810.KS) has won a 1.12 trillion won ($1.02 billion) order to supply an unnamed number of FA-50 fighter jets to South Korea's military through the Defense Acquisition Program Administration (DAPA).

The South Korean aircraft maker said in a regulatory filing on Tuesday that the contract is based on an initial mass-production agreement reached in December 2011, and will last until October of 2016.

($1 = 1094.4500 Korean won)

(Reporting by Joyce Lee; Editing by Daniel Magnowski)