[Featured Stock] LIG Nex1 Rises on Reports of Guided Weapon Exports

LIG Nex1 is showing early strength in the market following reports of a guided missile export contract worth 3.5 trillion KRW.

As of 9:50 AM on the 30th, LIG Nex1 is trading on the KOSPI market at 163,700 KRW, up 3,200 KRW (1.99%) from the previous close. The trading volume is 170,000 shares, with a trading value of approximately 27.5 billion KRW.

The stock opened at 164,600 KRW and even surged to a high of 169,200 KRW. However, some of the gains were given back due to profit-taking selling pressure.

Earlier, a media outlet reported that the Defense Acquisition Program Administration and LIG Nex1 are negotiating an export deal worth 3.5 trillion KRW for the Cheongung-II (M-SAM2) missile system with Iraq, aiming to finalize the contract within this year.

In response, LIG Nex1 stated in a pre-market disclosure, "We have begun discussions with the counterpart country regarding the possibility of export," adding, "No specific details have been agreed upon, and detailed information about the guided missile export may be limited due to security reasons."

They further added, "We plan to re-disclose information either when specific details are finalized or within three months."