LIG Nex1 Considers Name Change to LIG Defence & Aerospace Amid Satellite Expansion
LIG Nex1 is exploring a name change to 'LIG Defence & Aerospace' as it celebrates its 50th anniversary and aims to expand into the aerospace sector, particularly in satellite projects. The company has invested in satellite image analysis and established a satellite assembly facility, while also securing the Cheongung Satellite No. 5 project to develop a weather observation satellite. This strategic shift reflects a growing trend among defense firms to focus on satellite technology in response to evolving battlefield requirements.
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LIG Nex1 is considering rebranding to 'LIG Defence & Aerospace' to mark its 50th anniversary and expand into the aerospace sector, particularly satellite projects. The company, known for mid-range surface-to-air missiles like Cheongung II, filed for trademark registration in May and completed its internet homepage registration in September, with plans for a formal name change pending approval from the Minister of Trade, Industry and Energy.
LIG Nex1 has invested in satellite image analysis and built a satellite assembly facility in Daejeon, completed in October. The company was awarded the Cheongung Satellite No. 5 project in April to develop a satellite system observing weather from 36,000 km. The shift to aerospace reflects a broader trend among defense companies towards satellite technology due to evolving battlefield needs, with increased competition anticipated in securing satellite and launch vehicle projects.
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