LIG Nex1 is considering changing its corporate name to "LIG Defence & Aerospace." As LIG Nex1, which has built its position in guided weapons with systems such as the medium-range surface-to-air missile Cheongung II, adds aerospace to its name, the move is seen as a bid to further expand into space industries such as satellites.
According to the defense industry on the 29th, LIG Nex1 is preparing a makeover to mark its 50th anniversary next year. The push to change the company name is part of that. LIG Nex1 filed for trademark registration in May and completed registration of the internet domain "ligdna" in September. However, the name-change filing process has not yet begun. Under Article 35 of the Defense Acquisition Program Act, a company must obtain approval from the Minister of Trade and Industry (MOTI) to become a defense contractor. After that, a defense contractor designation certificate is issued, and if the contents of the certificate change, it must be reported to the Ministry of Trade and Industry (MOTI).
An LIG Nex1 official said, "We are reviewing a name change and considering various options," adding, "Nothing has been finalized yet."
LIG Nex1 marks its 50th anniversary next year. The origin of LIG Nex1 is Geumseong Precision Industry, founded in 1976. Geumseong, following the national policy of establishing a self-reliant defense posture at the time, entered the defense industry and, based on electronic technology secured by making TVs and radios, began developing shipborne radars and guided weapons. In the 1990s it was LG Precision, in 2000 it became LG Innotek, and in 2004 LIG Group, which had been spun off from LG Group, acquired the LG Innotek business unit, launching Nex1 Future, which became LIG Nex1 in 2007.
To mark its 50th anniversary next year, LIG Nex1 appears to be rebranding by putting "defence" and "aerospace" in its name instead of "Nex1." Previously, LIG Nex1 has focused on expanding its business scope into the space sector. Since the 2020s, it has signed industry-academia cooperation agreements with various universities, and last year it also invested in an overseas satellite imagery analysis company to develop satellite solutions in the intelligence, surveillance and reconnaissance (ISR) field. It also spent 63.1 billion won to establish a satellite and laser system assembly building at its Daejeon house. The plant was completed in Oct.
As a result, in Apr., LIG Nex1 won the contract for the Cheollian Satellite No. 5 project, which will observe weather around the Korean Peninsula from an altitude of 36,000 kilometers. In this project, LIG Nex1 is responsible for developing the satellite system, bus and payload. At the Seoul International Aerospace and Defense Exhibition (ADEX 2025) in Oct., it highlighted its satellite business by exhibiting high-resolution synthetic aperture radar (SAR) satellites, among others.
Defense companies expanding their space businesses is not a strategy unique to LIG Nex1. Korea Aerospace Industries (KAI) has participated in multiple satellite launches, including the military's 425 reconnaissance satellite program, and Hanwha Systems is also developing SAR satellites and very small satellites. This industry trend stems from the growing importance of satellite technology as the battlefield environment rapidly changes, including satellite communications for operating unmanned aircraft.
An official in the defense industry said, "Competition among domestic companies to win contracts in the satellite and launch vehicle sectors will only intensify going forward."