Hanwha Aero Signs 940 Billion KRW Contract with LIG Nex1 for Cheongung-II Components

Mass Production in Solid Propellant Components and Launch Pad & Launch Tube Fields

Hanwha Aerospace announced on the 26th that it has signed a contract worth a total of 940 billion KRW to supply launch pads and other components for the Cheongung-II missile system, intended for export to Saudi Arabia, to LIG Nex1.

Specifically, the two companies signed contracts for the "mass production of launch pads for the Cheongung-II (M-SAM2) project" and the "mass production of missile components and launch tubes for the SA-MSAM project (Cheongung-II export project)."

The contract for mass production of launch pads in the Cheongung-II project is approximately 628.4 billion KRW, which corresponds to 6.71% of Hanwha Aerospace's recent sales.

The contract for mass production of missile components and launch tubes is approximately 318.4 billion KRW, corresponding to 3.4% of recent sales.

Cheongung-II, a ballistic missile interception system known as the Korean Patriot, signed an export contract worth 3.2 billion USD (approximately 4.25 trillion KRW) with Saudi Arabia in February.

Cheongung-II has been developed since 2012 under the leadership of the Agency for Defense Development (ADD) and is a medium-range, medium-altitude surface-to-air interception weapon system produced by LIG Nex1. It was developed to simultaneously counter ballistic missiles and aerial threats such as aircraft, received combat suitability certification in 2017, and has been mass-produced since 2018. In the Cheongung-II export, Hanwha Aerospace is responsible for production of launch pads and other components.