Philippines to spend US$524m on military aircraft

The Philippines said on Friday it will buy $524.7-million worth of aircraft from South Korea and Canada as part of a military upgrade amid territorial disputes with superpower neighbour China. The contracts to be signed on March 28 will include the purchase of 12 FA-50 fighter jets from state-run Korea Aerospace Industries for 18.9 billion pesos (US$417.95 million), Defence Undersecretary Fernando Manalo told reporters.

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