LIG missile receives gov’t approval
The acquisition of the government’s qualification has paved way for the company to replace over 45 percent of the import-reliant parts for its existing missile, the “Shingung,” with made-in-Korea parts, raising the percentage of Korean-made parts in the missile from 50 to 95 percent, which is expected to save the company up to 60 billion won ($50.3 million).
The Shingung is a portable short-distance antiaircraft defense missile designed to target low-altitude planes and helicopters. Mass production of the weapon began in 2005, and revenue from its sales stands at around 1 trillion won.
LIG Nex1 says it aims to enter the global market for portable antiaircraft defense weapons, sized at around $2.2 billion, with the upgraded Shingung.
The new LIG-developed seeker for Shingung is an infrared homing device equipped with a cutting-edge detector of main and assistant radar frequencies and a digital signal processor. LIG has slashed the number of parts to simplify the assembly and digitalized signal-related parts that were formerly analog. It took some 15 billion won for about 20 researchers at LIG, working from October 2010 to November 2014, to localize the component.
BY SEO JI-EUN [email@example.com]
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