May 7, 2013 / 12:45 AM / 5 years ago

Korea Aerospace wins $1 billion order for fighter jets

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

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