Weapons firm targets new clients at expos
LIG Nex1 will showcase 47 products in 20 weapons systems at the Seoul International Aerospace & Defense Exhibition 2015 (ADEX) in Seoul, and 18 products in 14 systems at the Naval & Defense 2015 (N&D) in Busan.
“We decided to join the ADEX and N&D exhibitions to introduce integrated weapons systems, not only to industry insiders, but also regular visitors,” said the company’s CEO and Vice Chairman Lee Hyo-koo. “We hope to show how much Korean weapons systems have advanced to world’s top level, and expand our export markets at the expos.”
At the ADEX 2015, LIG Nex1 will display flagship weapons like the medium-range surface-to-air missile Cheongung and the anti-tank guided weapon Hyeongung. Other precise guided missiles, radars, telecommunication facilities and wearable robots developed by the company will also be on display.
At the N&D expo, the company will unveil software and weapons used by the Navy, including the Harbor Underwater Surveillance System, the anti-ship missile Haeseong, and its three flagship submarine torpedoes, the anti-submarine guided missile, lightweight torpedo and wire-guided heavyweight torpedo.
The company’s flagship Cheongung missile, which is to be supplied to the Korean military, completed quality testing in July and began commercial production.
After the success, the company, which recorded an annual sale of 1.4 trillion won ($1.2 billion) last year, went public on the nation’s benchmark Kospi market on Oct. 2.
“LIG Nex1 is expected to enjoy the largest growth potential, considering the national defense budget for next year,” said Lee Kang-rok, an analyst at Kyobo Securities.
BY KIM JI-YOON [firstname.lastname@example.org]