Manila, June 4 -- The Philippines has signed a contract calling for the delivery of 12 additional units of Korea Aerospace Industries' (KAI) Mach 1.5 capable FA-50 fighters jets, South Korean media reported Wednesday.

The contract, which is worth 1 trillion won (around USD700 million dollars or PHP40 billion), was signed by ranking officials of the Department of National Defense (DND) and KAI on June 3, according to a report by business news website ChosunBiz.

It added the contract also includes logistical support. Deliveries are expected from 2026 to 2030.

The report said these FA-50 aircraft are the more improved version of the FA-50PHs currently in service with the Philippine Air Force (PAF).

The DND has yet to confirm this informa...