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Biz News Korea(Eng)
LIG Nex1 completes fourth R&D lab in Korea
- Collected
- 2017.11.09
- Distributed
- 2017.11.10
- Source
- Go Direct
LIG Nex1 R&D center in Daejeon
The newly built research center, the fourth one following those in Gumi, Yongin and Pangyo, will be focusing on the company’s future business areas. LIG Nex1 is aiming to strengthen its market position in guided weapons with increased development capabilities in aviation electronics and satellite. A total of 130 billion won ($117 million) has been spent on the structure which spans over 41,650 square meters. The construction lasted for 22 months, the company said in a statement.
The center houses cutting-edge research, testing and training facilities. Its proximity to state-run Agency for Defense Development is expected to create synergy, the company said.
LIG Nex1 has participated in a project to develop advanced synthetic aperture radar onboard satellites and unmanned aerial vehicles since 2006 and it expects the new research center to take its expertise in satellite technology to a new level.
Shares of LIG Nex1 were up 1.25 percent to close at 72,900 won on Wednesday.
By Moon Ji-woong and Minu Kim
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