LIG Nex1, a leading South Korean defense company, is set to finalize a $2.6 billion deal with Iraq to supply the Cheongung II mid-range surface-to-air missile (M-SAM) system. The contract, expected to be signed next week, marks a significant win for LIG Nex1 as it expands its footprint in the Middle East defense market.
Under the agreement, LIG Nex1 will deliver eight Cheongung II missile batteries to Iraq, enhancing the country’s air defense capabilities. The deal follows similar agreements with the United Arab Emirates and Saudi Arabia, solidifying LIG Nex1’s position as a key player in the region’s defense sector.
The Cheongung II system, which employs advanced “hit-to-kill” technology to intercept hostile aircraft and missiles, is a core product of LIG Nex1. In collaboration with Hanwha Systems, which supplies radar, and Hanwha Aerospace, responsible for launchers, LIG Nex1 leads the consortium manufacturing the system.
With its cost-effectiveness—around one-third the price of a U.S. Patriot missile—and proven accuracy, the Cheongung II system has become one of South Korea’s most successful defense exports. This latest deal with Iraq underscores LIG Nex1’s growing influence in global defense markets.
