LIG Nex1 vies to enter defense industry in India

LIG Nex1 said it is participating in DefExpo India 2020, a biennial defense and aerospace exhibition being held from Wednesday to Sunday in Lucknow, India, the world’s second-biggest arms importer that ranks fourth in military spending.

The Korean defense company will showcase weapons including its land-based short-range surface-to-air missile Chiron that is mounted on the Hybrid Biho, a 30 mm complex gun and air defense system designed to target low-flying aircrafts and helicopters.

The Indian military had selected the Korean-built missile system for acquisition in October 2018. The deal hasn’t been signed due to interference from Russia, which accounted for 58 percent of India’s total arms imports in 2014-2018.

The South Asian country said last September that it has finalized a road map to spend $130 billion in the next five to seven years to modernize its armed forces.

South Korean Defense Minister Jeong Kyeong-doo held talks with his Indian counterpart Rajnath Singh in New Delhi Wednesday to pledge closer defense cooperation.

By Kim Byung-wook (kbw@heraldcorp.com)