LIG Nex1 Signs 216.6 Billion Won Contract for South Korea's M-SAM Block-III Air Defense System Development

LIG Nex1 has signed a 216.6 billion won contract with the Agency for Defense Development for the development of the M-SAM Block-III medium-range surface-to-air guided weapon system, set to be completed by 2030. The project aims to enhance the performance of existing surface-to-air missiles, Cheongung and Cheongung-II, allowing for higher altitude interception of enemy threats.

LIG Nex1 anticipates that the M-SAM Block-III will significantly bolster the Korea Air and Missile Defense (KAMD) system's capabilities, forming a multi-layered defense network alongside Cheongung-II, L-SAM, and L-SAM-II. The initiative will involve multiple domestic companies and is expected to benefit South Korea's defense industry through enhanced exports and industrial growth.