Korea Aerospace Industries (KRX:047810) won the Philippine FA-50PH performance-based logistics (PBL) project from the Philippines' Department of National Defense, the company said in a Tuesday filing with the Korea Exchange.

The contract, valued at 101.4 billion won, is valid until Feb. 5, 2029.

Under the agreement, the aerospace company will provide long-term maintenance, spare parts, repairs, and operational support for the FA-50PH light combat aircraft, according to the filing.

Shares of Korea Aerospace Industries fell nearly 1% at market close.