LIG Nex1, marking its 50th anniversary this year, will change its name to LIG Defense & Aerospace (LIG D&A) as it seeks to broaden its business beyond missiles into space and aviation and position itself as a global defense contractor. The company said it aims to expand exports of a Korean-style integrated air defense system, led by its flagship Cheongung-II interceptor, as part of its push to become a 100-year company.
According to the defense industry on March 12, LIG Nex1 will hold a shareholders meeting on March 31 to discuss agenda items including the name change, an increase in the scale of bond issuance, reflecting revisions to the Commercial Act, and approval of dividend payments. The company had signaled in January that it would adopt the LIG D&A name. A company official said the change is intended to clarify its defense-industry identity while expanding into global markets and the space sector, adding that it would make a fresh start under a new banner meaning “to the world, to space, to the future.”
Tracing its roots to Geumseong Precision, LIG Nex1 began in 1976 as a U.S. missile maintenance company working on systems such as Hawk and Nike. After separating from the LG Group, it acquired LG Innotek’s defense business division in 2004 and adopted its current name in 2007. Its core technologies include precision strike, surveillance and reconnaissance, avionics, command and control, and communications. Key products include the Shingung short-range surface-to-air missile, the Cheongung medium-range surface-to-air guided weapon, and the Bigung guided multiple-launch weapon. The company has drawn attention in global markets after Cheongung-II deployed in the United Arab Emirates during the recent U.S.-Israel and Iran war posted a 96% interception success rate.
LIG Nex1 said the rebranding reflects its goal of becoming a comprehensive defense company spanning guided weapons, aircraft armaments, electronic warfare and space. As modern warfare shifts toward reconnaissance, target identification, precision strike and layered air defense networks, space-based technology is increasingly central, driving defense firms to secure space infrastructure.
The company says it already has capabilities in rocket propulsion, guidance, radar, communications, sensors and satellite data, making expansion into space more feasible. It also pointed to the example of RTX, created through the merger of missile maker Raytheon and aerospace-focused UTC. An industry official said missiles and satellites share many underlying technologies, and that the space sector faces simpler export controls than weapons, making it easier to attract investment, pursue technical cooperation and join global projects.
LIG Nex1 is also posting results in related areas. A key project is a 1.6 trillion won program signed with South Korea’s Defense Acquisition Program Administration to develop a Korean electronic warfare aircraft system. The company has also begun business cooperation with global space defense firm L3Harris on future space and satellite development. It plans to expand bond issuance to support new business growth. Industry observers said the new LIG D&A name and the Cheongung-II showcase are expected to lift the company’s global profile.
CEO Shin Ik-hyun said, “This year, our 50th anniversary, will be the first year of a new start toward the next 100 years,” adding that the company will aim to become a true defense leader by building a global foundation, accelerating research and development and strengthening a culture of communication.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.