Saudis agree $3.2 bln deal to buy South Korean missile defence system - ministry

LIG Defense & Aerospace

06/02/2024 10:51

SEOUL, Feb 6 (Reuters) - South Korean defence firm LIG
Nex1  079550.KS  has won a $3.2 billion deal to export a
mid-range surface-to-air missile defence system to Saudi Arabia,
South Korea's Ministry of National Defence said on Tuesday. 
    The Saudi defence ministry agreed to buy 10 batteries of a
mid-range, medium-altitude interception system called Cheongung
M-SAM II that can cope with ballistic missile and aircraft
attacks, the South Korean ministry said. 
    The details of the deal were disclosed at the sidelines of
the World Defense Show in Riyadh. 
    A spokesperson for LIG Nex1 could not be reached outside
office hours. 

 (Reporting by Joyce Lee and Josh Smith; Editinmg by Andrew
Heavens)
 ((joyce.lee@tr.com;))