Defense Exports

Lee Hyun-soo (second from left), head of LIG Nex1’s Overseas Business Division, poses for a photo with Saudi Arabian officials during a ceremony held in honor of the delivery of Fast Patrol Boats to the Saudi Arabian Armed Forces in October last year.
Lee Hyun-soo (second from left), head of LIG Nex1’s Overseas Business Division, poses for a photo with Saudi Arabian officials during a ceremony held in honor of the delivery of Fast Patrol Boats to the Saudi Arabian Armed Forces in October last year.

Following the deployment of the Cheonmoo, a multiple launch rocket system (MLRS) produced by Hanwha Aerospace, Saudi Arabia has confirmed that it has also deployed LIG Nex1’s Bigung, a low-cost guided imaging rocket (LOGIR). An increase in arms exports has significantly expanded the percentage of exports in LIG Nex1’s total revenue.

According to industry sources, LIG Nex1’s Bigung was installed on new Fast Patrol Boat (FPB) 2200s, which the Saudi military introduced in October last year, in order to cope with small attack boats. The Saudi Arabian FPBs were built by France’s Couach. The Saudi Arabian military plans to acquire a total of 12 of them for deployment on its Western Fleet and has already received seven.

The Bigung is a 2.75-inch guided rocket developed in 2016 by LIG Nex1 and led by Korea’s Agency for Defense Development (ADD) to respond to maritime mobile targets. It has a small diameter of about 7 centimeters, is equipped with a guided control system, and can shoot at multiple targets simultaneously using a fire-and-forget method.

The Saudi Arabian military is reportedly operating FPB 2200s. In October last year, Lee Hyun-soo, head of LIG Nex1’s overseas business, attended a ceremony held in honor of the delivery of FPBs to the Saudi Arabian Armed Forces in the Middle Eastern kingdom along with Saudi Arabian officials.

The Saudi Arabian military has deployed Cheonmu MLRSs from Hanwha Aerospace to Army units in areas near the Saudi Arabia-Yemen border. Hanwha has reportedly signed a contract with Saudi Arabia to export Cheonmu MLRSs worth about US$800 million (about 1 trillion won). This deal followed large-scale Cheonmu exports to the UAE in 2017 and Poland in 2022.

Cooperation is expected to prevail between the Saudi Arabian military and Korean defense firms. During a visit to Korea by Crown Prince Muhammad bin Salman of Saudi Arabia in November last year, Saudi Arabian officials discussed defense cooperation with Hanwha, LIG Nex1, Hyundai Rotem, and others. In particular, LIG Nex1, which exported the medium-range, medium-altitude surface-to-air interceptor system Cheongung II (M-SAM2) to the UAE last year, is in export negotiations with the Saudi Arabian government.

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