S.Korean LIG Nex1 to Manufacture Missiles in Romania

South Korea’s LIG Nex1 signed a memorandum of understanding with Romania's state-run Romarm as it seeks to export its anti-aircraft missiles to the European country.

Lee Hyun-soo, LIG Nex1’s overseas business manager, and Florentina Micu, president of Romarm, signed the agreement in Bucharest. Under the agreement, LIG Nex1 plans to cooperate with Romarm on technology development and transfer, ultimately accelerating the local production of its cutting-edge missiles in Romania.

“This memorandum includes cooperation on technology transfer for local production, which is expected to serve as the foundation of economic ties between the two countries,” Lee of LIG Nex1 was quoted as saying by The Korea Herald. “We hope to strengthen ties in various defense fields in the future."