Lee Min-hyung joined The Korea Times in 2014 and has worked as a journalist mainly in Korea’s finance, tech and automotive industry. He specializes in content creation, breaking news and in-depth analysis currently on transportation and mobility. You can reach him via mhlee@koreatimes.co.kr.
LIG Nex1 rebrands as LIG Defense & Aerospace to bolster global ambitions
LIG Chairman Koo Bon-sang, sixth from left, and LIG Defense & Aerospace (D&A) CEO Shin Ick-hyun, seventh from left, pose alongside employees during a plaque unveiling ceremony in Pangyo, Gyeonggi Province, Tuesday. Courtesy of LIG D&A
By Lee Min-hyung
LIG Nex1 said Tuesday it has changed its corporate name to LIG Defense & Aerospace (D&A) as part of its push to become a global defense player.
The name change was approved at a shareholders meeting held in Yongin, Gyeonggi Province.
It marks the company’s first name change since it was rebranded as LIG Nex1 from Nex1 Future in 2007, following its incorporation into LIG Group.
The company said the new name reflects its commitment to taking on new challenges while building on a legacy spanning more than 50 years.
LIG D&A has been increasing its investment in future defense sectors, including satellite systems, next-generation aerial weapons and unmanned platforms, to diversify its business portfolio.
The company also plans to expand its presence in Europe, the United States and South America, beyond its existing markets in the Middle East and Asia.
“This name change is not just a simple rebranding, but a promise to evolve into a global technology company that protects the safety and peace of humanity through technological innovation,” a company official said.