Marking its 50th anniversary, LIG Nex1 changed its name to "LIG Defense & Aerospace (LIG D&A)" and declared a leap forward as a "global comprehensive defense company" encompassing the aviation and space sectors.
LIG D&A said the agenda to change the company name passed as originally proposed at the 24th regular shareholders meeting held at Yongin House on the 31st.
The new name "LIG D&A" combines Defense and Aerospace, reflecting the intent to lead the future battlespace by adding advanced space technology to the defense capabilities built over 50 years.
LIG D&A develops and mass-produces advanced weapon systems such as guided weapons, surveillance and reconnaissance, command, control and communications, and avionics and electronic warfare.
On top of that, it is strengthening investment in future defense fields such as "satellite systems" to lead the new space era, the core of future Air Force power "next-generation airborne weapon systems," and the modern battlefield game-changer "unmanned platforms." Going forward, it plans to diversify its export strategy to pioneer new markets in Europe, the United States and South America, beyond the Middle East and Asia.
An LIG D&A official said, "If the past 50 years were a time to lay the groundwork for Korea's independent defense, the next 50 years will be a time to change the paradigm of the global defense industry based on advanced technological capabilities," adding, "This name change is not a simple change of designation but a pledge to evolve into a global technology company that protects human safety and peace through technological innovation."