LIG Nex1 and Rheinmetall to Pursue Establishment of Joint Venture in Europe

Strategic Partnership Targeting NATO Market

Collaboration on Multi-Layered Air Defense Solutions and Joint Development of New Missiles

LIG Nex1 and Germany-based defense company Rheinmetall Air Defense announced on the 16th that they are pursuing the establishment of a joint venture in Europe targeting the European and North Atlantic Treaty Organization (NATO) markets. This initiative is part of a memorandum of understanding for strategic partnership signed in Paris, France on the 5th.

Hyunsoo Lee, Head of Overseas Business Division at LIG D&A (right), is posing for a commemorative photo after signing a memorandum of understanding for a strategic partnership with Oliver Dur, CEO of Rheinmetall Air Defense, at the Rheinmetall booth at the Eurosatory international defense exhibition held in Paris, France, on the 5th (local time). LIG Nex1

According to LIG Nex1, the two companies plan to leverage their complementary product portfolios to strengthen their capabilities to provide one-stop turnkey air defense solutions in the European market. They also aim to pursue substantive cooperation, such as establishing a stable supply chain and jointly conducting research and development (R&D) within Europe.

Specifically, LIG Nex1’s medium- and long-range air defense missile systems will be combined with Rheinmetall’s very short-range air defense (VSHORAD) capabilities to localize, develop, and sell these solutions in the European market. Additionally, both companies plan to jointly develop a new missile system for short-range air defense (SHORAD), with the goal of building a multi-layered air defense system that covers everything from very short to long ranges.

Rheinmetall is a global leader in ground-based air defense, possessing a wide range of capabilities including anti-aircraft guns and weapon systems, sensors and fire control systems, integrated command and control (C2) systems, and drone countermeasure systems.

LIG Nex1 has also established itself as a leading air defense system provider in Korea by developing and mass-producing long-range surface-to-air missile (L-SAM) systems, medium-range surface-to-air missile (M-SAM II, Cheongung-II) systems, and portable surface-to-air missile (CHIRON, Shingung) systems. In particular, the company has recently accelerated its entry into the European market, including the opening of its European office in Munich, Germany.

Ikhyeon Shin, CEO of LIG Nex1, stated, “It is meaningful to pursue a strategic partnership with Rheinmetall at this critical moment when Europe is advancing defense modernization. We will continue to expand sustainable cooperation in various fields, including research and development and marketing.”

Oliver Duerr, CEO of Rheinmetall Air Defense, said, “The portfolios of both companies are complementary and meet the needs of the current and future European markets. Through this collaboration, we expect to provide European customers with an even broader range of air defense capabilities.”

This content was produced with the assistance of AI translation services.