Korea Aerospace Industries Co. (KAI), South Korea's sole aircraft manufacturer, said Monday it has received a US$360 million repair and maintenance deal for trainer jets in Iraq.

In the three-year deal signed with the Iraqi defense ministry, KAI will provide repair and maintenance services for the T-50IQ advanced trainer jets operated by the Iraqi air force as well as training programs for pilots and engineers, the company said in a statement.

KAI exported 24 T-50IQ trainer jets to Iraq in 2013.

The company has exported a total of 156 KT-1 basic and T-50 advanced trainer jets to seven countries in Southeast Asia, the Middle East and Latin America.

It is now looking to markets such as Malaysia, Columbia, Senegal, North America and the Oceania region in its export diversification strategy, the statement said. (Yonhap)