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South Korea contractor in $1.1 billion Iraq deal to sell fighter jets

SEOUL (Reuters) - Korea Aerospace Industries <047810.KS> has signed a contract with Iraq to export 24 light fighter jets valued at $1.1 billion, the South Korean company said on Thursday.

The deal to supply T-50 aircrafts also include providing training for Iraqi pilots and other support for the Iraqi Air Force with a potential to reach a combined value of $2 billion, the contractor said in a statement.

(Reporting by Jack Kim; Editing by Choonsik Yoo)