South Korea signed a US$420 million contract Friday to export 12 FA-50 fighter jets built by Korea Aerospace Industries (KAI) to the Philippines under a government-to-government deal, the state arms procurement agency said.The FA-50 is a light attack variant of the T-50 Golden Eagle supersonic trainer that was co-developed by KAI and U.S. defense firm Lockheed Martin. It is the most advanced variant of the T-50 family operated by the South Korean Air Force, Yonhap news agency reported.Philippine defense chief Voltaire Gazmin, South Korea’s Defense Acquisition Program Administration (DAPA) commissioner Lee Yong-geol and KAI CEO Ha Sung-yong attended the signing ceremony held at the Philippine’s defense ministry.