Lee Hyo-jin covers the Bank of Korea, the banking industry and broader financial news. Her previous beats include foreign affairs, North Korea and general reporting on Korean society.
LIG Nex1 participates in Egypt's defense exhibition
LIG Nex1's booth at Egypt Defense Expo 2023 (EDEX) taking place at Egypt International Exhibition Centre in Cairo, Egypt, from Monday to Thursday (local time) / Courtesy of LIG Nex1
By Lee Hyo-jin
LIG Nex1, a Korean defense company, is participating in the Egypt Defence Expo 2023 (EDEX) in Cairo from Monday to Thursday (local time), showcasing various guided weapons.
Launched in 2018, the biennial EDEX is the largest defense exhibition in Africa. The event is co-sponsored by the Egyptian Ministry of Defense, the Defense Materials Agency and the state-run Arab Organization for Industrialization (AOI).
It is the first time that LIG Nex1 will participate in EDEX, the company said, signaling the Korean firm's entry into the Egyptian defense market, which is traditionally dominated by Russian and European weapons system makers.
According to the Yongin, Gyeonggi Province-based company, the LIG Nex1 booth is showcasing a medium-range anti-tank weapon called the Raybolt, the Korean GPS-Guided Bomb (KGGB) and an active electronically scanned array radar for the FA-50 light combat aircraft.
The Raybolt is a third-generation anti-tank guided missile, which can be loaded onto a small tactical vehicle, or be man-portable depending on the tactical environment. It is equipped with fire-and-forget capability using a thermal image seeker.
The KGGB is a smart bomb system operable on various airborne platforms, including the FA-50 light attack aircraft, and is capable of conducting precision strikes from long distances with a day-and-night and all-weather capability.
The AESA radar, for its part, is known as the core sensor for next-generation fighter jets and is installed on the FA-50.
"LIG Nex1 has been exploring various ways to cooperate with Egyptian government organizations and its defense companies in order to establish a foothold in the Middle East and the North African region," the company's CEO Kim Ji-chan said.
"Through this year’s EDEX, as the leading K-Defense company, LIG Nex1 will showcase its cutting-edge technology and its competitiveness, and will secure its position in the global defense market with its unique and exceptional brand value."