[Special Stock] LIG Nex1 Rises 10% on Expectations of Cheongung II Export Expansion

LIG Nex1, a defense industry company affiliated with the LIG Group, continued to expand its intraday gains in the stock market on the 7th. This reflected expectations that exports of Cheongung II, LIG Nex1's main medium-range surface-to-air defense weapon, will continue to grow.

LIG Nex1 Gumi Factory On-site Photo

As of 3:17 PM on the same day, LIG Nex1's stock price was trading at 246,000 KRW, up 10.31% from the previous day's closing price. The stock started rising early in the session and expanded its gains throughout the day. At one point during trading, it rose to as high as 248,000 KRW.

IM Securities stated in a report that day, "LIG Nex1's expansion of the Cheongung II pipeline will continue to broaden its scope." Accordingly, they significantly raised LIG Nex1's target price from 196,000 KRW to 287,000 KRW.

Byun Yong-jin, an analyst at IM Securities, said, "Following the United Arab Emirates (UAE) and Saudi Arabia, Iraq's order for Cheongung II is closely related to the unstable situation in the Middle East," adding, "Countries such as Kuwait and Qatar are also considering introducing Cheongung II."

He also noted, "As witnessed in the Ukraine and Middle East wars, the demand for quadruped robot dogs is rapidly increasing due to the unmanned nature of the battlefield," and predicted, "Ghost Robotics, a robot dog company in which LIG Nex1 holds a 60% stake, will also become a future growth axis."