KAI signs follow
Korea Aerospace Industries (KAI), South Korea's sole aircraft maker, signed a US$3 billion contract with Poland on Friday to follow up on an earlier basic deal to export 48 FA-50 fighter jets, Seoul's arms procurement agency said.
KAI inked the "executive" contract with Warsaw's Armament Agency as a follow-up to the "framework" contract signed in July to supply the fighters to the European country, according to the Defense Acquisition Program Administration.
Two Korean firms, Hyundai Rotem Co. and Hanwha Defense, have already signed the executive contracts -- worth US$5.76 billion in total -- to supply 180 K2 tanks in the 2022-25 period and 212 K9 self-propelled howitzers in the 2022-26 period, respectively.
All three executive contracts are follow-up arrangements to the "framework" contracts in July that set the basic contours of the export deals. (Yonhap)
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