South Korea plans to build up to 500 new tanks in 2 - 3 years. The K2 prototype tank has been completed and will replace their older American T48 tanks, the Korean version was the modified M48A5K made in the mid 70s, it's been fitted with an improved 105mm gun, additional armor and significant fire control upgrades, making it on par if not more capable than the early M60s
http://www.timawa.net/forum/index.php?topic=5573.0
The M48A5K is the perfect tank that the Philippine Army should have. This is a modern practical tank far lighter than an MBT.