The total cost will be P25 billion, or around US $ 591 million.
The TA-50 aircraft is based on the T-50 supersonic trainer jet, and, according to Yonhap News, is a "full-fledged attack platform" that can carry precision-guided weapons.
The fighter jet is part of the T-50 family of aircraft, developed by the Korea Aerospace Industries Ltd. The T-50 family is touted as the "only 21st century supersonic advanced trainer and light attack jet."
The TA-50 has an embedded radar and reinforced weapon capacity compared to the original T-50 model, and is said to be fitted with machine guns and AIM-9 Sidewinder weapons, and can carry bombs and AGM-65 Maverick missiles. It was first built last year.
The acquisition of the fighter jets is part of the P70 billion modernization plan for the Armed Forces of the Philippines under the current administration.
The planes will be part of the aging and minimal PAF fleet, which currently only has 2, 25-year-old S-211 trainer jets and an unusable F-5 fighter jet.
Defense Secretary Voltaire Gazmin told ABS-CBN News that beefing up the country's air defense capabilities is needed to strengthen not just the fleet but also our image abroad.