Iraq signs $1.4b deal to buy South Korean fighters
SEOUL (AFP) - Iraq signed a US$1.1 billion (S$1.4 billion) deal on Thursday to buy 24 multi-role light fighters from South Korea, officials said, in what will be the Asian nation's biggest arms export.
The Korea Aerospace Industries (KAI) said it would deliver the T-50IQ, a variant of its T-50 supersonic aircraft, to Baghdad between 2015 and 2016, under the terms of the deal signed in Seoul.
The firm also said it expected to sign an additional US$1.0 billion deal in 2014 to provide parts, equipment and pilot training for 20 years.
The T-50IQ is an advanced multi-role fighter that is equipped with precision-guided weapons, missiles and machine guns.