Gumi City, Becoming a Global K-Defense Industry Hub! ... LIG Nex1 Successfully Attracts 110 Billion KRW Investment in Defense Industry Sector

Priming Water for Attracting Defense Industry Innovation Cluster

Gumi City signed a memorandum of understanding for investment with LIG Nex1.

[Asia Economy Yeongnam Reporting Headquarters Reporter Dongguk Lee] On the 28th at 3:30 PM, Gumi City held a signing ceremony for a Memorandum of Understanding (MOU) for expansion investment in the defense industry sector of LIG Nex1 at the city hall auditorium. The event was attended by Lee Dal-hee, Deputy Governor for Economic Affairs of Gyeongbuk Province, Park Bae-ho, Head of Production Headquarters at LIG Nex1, National Assembly members Koo Ja-geun and Kim Young-sik, Ahn Joo-chan, Chairman of the City Council, as well as provincial and city council members and heads of organizations.

LIG Nex1, established in 1976 under the banner of self-reliant national defense, is a leading defense industry company that develops and mass-produces various weapon systems ranging from precision-guided munitions, surveillance and reconnaissance, command and control communications, avionics, to electronic warfare, in cooperation with the Defense Acquisition Program Administration and the Agency for Defense Development.

This investment aims to enhance production capacity and improve advanced defense capabilities amid increasing interest in K-defense due to unstable international situations caused by geopolitical risks in Eastern Europe, the Middle East, and the South China Sea. By 2025, LIG Nex1 plans to invest 110 billion KRW in expanding Gumi Nex1 Plants 1 and 2 to build advanced weapon systems and carry out various weapon system projects.

Following contracts for advanced weapons such as Hyungung, Shingung, and Cheongung in the United Arab Emirates and Indonesia, LIG Nex1 continues to secure orders in the Middle East, Eastern and Northern Europe, and Asian countries, establishing itself as a truly global defense company.

Mayor Kim Jang-ho stated, “The history of the Gumi industrial complex is the history of the domestic defense industry. Going forward, the city will do its utmost to grow into a K-defense hub city that combines the manufacturing capabilities of the Gumi industrial complex with world-class defense technology. We ask for the cooperation and support of local defense companies to attract the Defense Industry Innovation Cluster,” expressing his thoughts on the signing of the MOU.