[Stock in Focus] LIG Nex1 Surges 12%... "Cheongung-II" Performance Proven

LIG Nex1 is showing an intraday surge of over 12% on March 6.

As of 10:30 a.m. on this day, LIG Nex1 was trading at 858,000 won on the Korea Exchange, up 12.45% from the previous session. Early in the session, it rose as much as 15.20% to reach 899,000 won, hitting a new 52-week high.

Korean-made Cheongung-2 intercept missile developed to intercept North Korean ballistic missiles. It can intercept North Korean missiles at altitudes up to 15 km.

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Following the U.S. and Israeli airstrikes on Iran, defense stocks, including LIG Nex1, have been demonstrating strength.

In particular, it is believed that investment sentiment has been boosted by reports that the Korean-made Cheongung-II air defense system deployed in the United Arab Emirates (UAE) intercepted missiles launched by Iran. LIG Nex1 is responsible for the system integration of the Cheongung-II.

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Additionally, it has been reported that the UAE has requested the Korean government for the early supply of interceptor missiles.

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