SEOUL, Aug. 21 (Korea Bizwire) — Korean Air Co. said Thursday it has partnered with LIG Nex1 Co. to compete for a 1.78 trillion-won (US$1.27 billion) government project to develop an electronic warfare aircraft for the Air Force. The two companies plan to submit their final proposal for the project in early September. If chosen [...]
SEOUL, May 1 (Korea Bizwire) — LIG Nex1 Co., a major South Korean defense and aerospace company, said Thursday it has signed a 320.7 billion-won (US$224 million) deal to develop the Chollian Satellite 5, South Korea’s next-generation geostationary weather satellite. The satellite project will be carried out in collaboration with the Korea Meteorological Administration, the [...]
SEOUL, Jan. 9 (Korea Bizwire) — KT Corp., a major South Korean telecommunications company, said Thursday it will join hands with defense firm LIG Co. Nex1 to develop propriety technologies for homegrown low Earth orbit (LEO) satellites. The two companies signed a memorandum of understanding to jointly develop core technologies for LEO satellites, including a [...]
SEOUL, Sept. 20 (Korea Bizwire) — LIG Nex1 Co., South Korea’s major defense firm, said Friday it has secured a 3.7 trillion-won (US$2.78 billion) contract with Iraq to export its Cheongung-II medium-range surface-to-air missile defense system. The deal was made with Iraq’s defense ministry, though specific financial details were withheld for security reasons, according to [...]
SEOUL, Mar. 15 (Korea Bizwire) — The state arms procurement agency said Friday it has signed a 330.6 billion-won (US$250 million) contract with local defense company LIG Nex1 Co. for the development of a long-range ship-to-air missile by 2030. The two sides signed the deal Thursday for the air defense weapon to be equipped on [...]
SEOUL, Feb. 9 (Korea Bizwire) — LIG Nex1 Co., a major South Korean defense firm, has signed an agreement with Romania on cooperation in the surface-to-air missile field, the company said Thursday. The aerospace manufacturer said it inked the memorandum of understanding (MOU) with ROMARM, Romania’s state-run defense company, at the southeastern European country’s ministry [...]
SEOUL, Sept. 18 (Korea Bizwire) — LIG Nex1, a defense unit of South Korean conglomerate LIG Group, said Friday it will go public on the Seoul bourse in October in what will be the first market debut by a local defense company. The initial public offering (IPO) of 6.9 million shares is expected to raise [...]
SEOUL, Aug. 25 (Korea Bizwire) – Although the recent military standoff between the two Koreas has eased following lengthy dialogue, South Korea is still under intense military threat from the North. To counter the threats, the South Korean defense industry is developing futuristic wearable robot weapons systems. “Ironman” wearable robots, or exoskeleton robots with enhanced [...]