LIG Nex1 and Hyosung Heavy Industries Receive Advance Payments of 22.6 Billion KRW
[Asia Economy Reporter Hwang Junho] LIG Nex1 announced on the 25th that it will pay advance payments totaling 22,585,330,000 KRW to 27 companies including Hyosung Heavy Industries. This corresponds to 3.56% of its equity capital.
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LIG Nex1 explained that the advance payment amount is the sum to be paid to partner companies in accordance with the rules for payment of initial and interim payments related to defense industry, based on the amounts (prepayments) received from the Defense Acquisition Program Administration and others under the guided missile mass production business contract.
This content was produced with the assistance of AI translation services.
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