[Special Stock] LIG Nex1, 'Defense Innovation Fund Formation', Rises Over 10%

The promotional exhibition hall of LIG Nex1, which participated in the comprehensive defense industry exhibition 'WDS 2024' in the Middle East region, on the 5th.
[Image source=Yonhap News]

The stock price of LIG Nex1, which formed the ‘Defense Innovation New Technology Investment Fund No. 1’ with the Military Mutual Aid Association and IBK Capital, is showing strong performance.

As of 2:32 PM on the 14th, LIG Nex1 is trading at 130,300 KRW, up 12,100 KRW (10.24%) compared to the previous trading day. After the fund formation news was announced, the stock price even showed a rise of 12.27%.

On the same day, the Military Mutual Aid Association announced that it would invest a total of 80 billion KRW in the Defense Innovation Fund. The Military Mutual Aid Association is investing 40 billion KRW, LIG Nex1 15 billion KRW, and IBK Capital 25 billion KRW.

LIG Nex1 and IBK Capital are serving as co-managers. They selectively invest in companies possessing advanced defense and Fourth Industrial Revolution-related technologies.

Meanwhile, LIG Nex1 recently signed an export contract worth 4.25 trillion KRW for the ‘Cheongung II’ with Saudi Arabia. Additionally, it is known that the Romanian government is introducing 54 units of Shingung and is also participating in bids for short- and medium-range surface-to-air missiles. On the previous day, Minjung Kwak, a researcher at Hyundai Motor Securities, evaluated LIG Nex1 by stating, “Market diversification is underway in Malaysia, Thailand, Egypt, and others. Future order momentum is positive.”

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