LIG Nex1 "Aiming to be Ranked 20th Among Global Defense Companies"

Shin Ik-hyun CEO "5 Trillion Won Investment by 2030"

LIG Nex1 announced its mid-to-long-term plan to invest 5 trillion KRW by 2030, achieve a global defense industry ranking of 20th, and expand overseas market entry to 30 countries. Through this, the company aims to leap forward as a true global defense industry leader, spearheading the realization of K-defense exports as one of the top four global powers.

[Image source=Yonhap News]

On the 23rd, LIG Nex1 held ‘LIG Global Day’ at the LIG Nex1 Pangyo House in Seongnam, Gyeonggi Province, introducing the company’s global vision and future innovation directions. The event was attended by CEO Shin Ik-hyun, executives, employees, partner companies, defense industry academia-industry-research officials, and investors.

In his vision presentation, CEO Shin Ik-hyun assessed that it is time for the domestic defense industry to reconsider its direction to secure sustainable growth engines amid rapidly evolving battlefield environments and intensifying global competition. He also emphasized the critical importance of bold investment, technological innovation, overseas business expansion, and cooperation.

LIG Nex1 presented three major future innovation directions to lead the new trends in the global defense industry: ▲ realization of the K-Air Defense Belt connecting North Africa, the Middle East, and Asia through an ‘Integrated Air Defense Solution,’ ▲ securing ‘Unmanned Solutions’ covering all domains including unmanned fleets, unmanned aerial squadrons, and ground force support unmanned robots, and ▲ ‘Export Country Expansion’ centered on air defense and unmanned systems.

To this end, LIG Nex1 declared the slogan for its new leap forward, ‘BEYOND The LIMIT Together.’ By 2030, the company plans to invest a total of 5 trillion KRW to secure cutting-edge technological capabilities such as multi-layered air defense networks and unmanned solutions, while also investing in facilities to increase production capacity. Through this investment strategy, the company aims to achieve a global defense industry ranking of 20th and expand its overseas presence to 30 countries by 2030.

Furthermore, LIG Nex1 plans to support the South Korean government’s key initiative of advancing K-defense into the global top four. The company will also strive to revitalize the defense ecosystem so that the expansion of the domestic defense industry’s scope leads to new growth opportunities not only for domestic mid-sized and small companies but also for innovative companies with excellent technologies.

CEO Shin Ik-hyun of LIG Nex1 stated, “It is nearly impossible to win against large global defense companies through the efforts of domestic companies alone. Beyond competition among companies, only by uniting the entire K-defense ecosystem?encompassing the military, industry, academia, research, and government under the leadership of the South Korean government?can we challenge the impossible.”

He added, “At this critical point where K-defense is entering a path of sustained growth, we will overcome an uncertain future through bold investments.”