LIG Nex1 expands Saudi office to strengthen Middle East presence

LIG Nex1 Co. CEO Shin Ick-hyun, center, and other company officials pose for a photo during a ribbon-cutting ceremony for a new office in Riyadh, Saudi Arabia, Aug. 14, in this photo provided by the company. Yonhap

LIG Nex1 Co., a Korean precision-guided missiles and weapons manufacturer, said Monday it has expanded and relocated its office in Saudi Arabia as part of efforts to strengthen its presence in the Middle East.

At an opening ceremony held Thursday (local time) in Riyadh, LIG Nex1 Chief Executive Officer (CEO) Shin Ick-hyun was joined by Saudi government officials and representatives from local defense firms, the company said.

The expanded office is expected to serve as a regional communications hub in line with the company's strategy to bolster its Middle East business.

Amid lingering geopolitical risks, Middle Eastern countries have been showing growing interest in advanced weapons systems, including the long-range surface-to-air missile (L-SAM).

In response, LIG Nex1 has set up separate operational and research and development (R&D) divisions to boost arms exports to the region and establish a reliable post-management network with local partners.

"We expect the expanded office to enable smoother collaboration with customers in Saudi Arabia and other countries," a company official said. "We will further solidify our position in the Middle East market through continuous business expansion and localization strategies."