April 19, 2024
Industrials
Defense firm LIG Nex1 completes new R&D center
[THE INVESTOR] Local defense firm LIG Nex 1 completed its new space and avionics research and development center on Nov. 8 that will specialize in developing guided munitions.
The company spent 130 billion won (US$116.74 million) over a 22-month period on the center, named Daejeon House. The latest facility will complement other R&D centers the company operates throughout the country, officials said.
It covers 41,000 square meters inside the Innopolis Daedeok, a special R&D zone in Daejeon, which is 164 kilometers south of the capital city of Seoul. In the vicinity, there are other defense research organs, allowing synergy, officials said.
LIG Nex1 has since 2006 been participating in the development of synthetic-aperture radar that can be placed on satellites or unmanned vehicles. It signed a deal in March with the Korea Advanced Institute of Science and Technology for the joint development of space technology.
By Alex Lee and newswires (alexlee@heraldcorp.com)
