{"id":2205796,"date":"2024-07-16T08:00:50","date_gmt":"2024-07-15T23:00:50","guid":{"rendered":"https:\/\/koreapro.org\/?p=2205796"},"modified":"2024-07-15T19:48:58","modified_gmt":"2024-07-15T10:48:58","slug":"south-koreas-cost-effective-guided-rocket-hits-bullseye-in-us-military-test","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2024\/07\/south-koreas-cost-effective-guided-rocket-hits-bullseye-in-us-military-test\/","title":{"rendered":"South Korea\u2019s cost-effective guided rocket hits bullseye in US military test"},"content":{"rendered":"

LIG Nex1\u2019s 2.75-inch guided rocket Bigung achieved a 100% hit rate in the final test launch of the U.S. Department of Defense\u2019s Foreign Comparative Testing (FCT) program on Friday, according to the company. The successful evaluation marks Bigung as the first ROK-made guided weapon to be recognized by the U.S. military.<\/span><\/p>\n

The FCT program evaluates advanced technologies from allied countries for potential integration into U.S. military projects. LIG Nex1 aims to secure an export contract with the U.S. following the successful test, which was supported by the South Korean military and government agencies. A successful export deal may lead to increased global demand for LIG Nex1\u2019s weapon systems.<\/span><\/p>\n

WHY IT MATTERS<\/b><\/p>\n

The successful testing of the Bigung guided rocket in the U.S. FCT program may lead to significant growth opportunities for the company. With a unit cost of approximately $29,000 (<\/span>40 million won<\/span><\/a>), the Bigung is a cost-effective alternative to the <\/span>U.S. Hellfire missile<\/span><\/a>, which costs around <\/span>$150,000 per unit<\/span><\/a>. This cost advantage, combined with the Bigung\u2019s proven performance, will likely make it an attractive option for the U.S. military.<\/span><\/p>\n

LIG Nex1\u2019s stock price surged<\/a> 11.17% on Monday following news of the attempted assassination of former U.S. President Donald Trump, likely due to expectations of increased defense spending pressure on allies under a potential second Trump administration. The company also secured major deals with <\/span>Saudi Arabia<\/span><\/a> and <\/span>Romania<\/span><\/a> earlier this year. If LIG Nex1 secures a U.S. export contract for the Bigung, it will likely further cement its position as a key player in the global defense industry<\/span><\/p>\n

Business & Economy<\/span><\/a>Defense & Security<\/span><\/a><\/div>","protected":false},"excerpt":{"rendered":"

LIG Nex1\u2019s 2.75-inch guided rocket Bigung achieved a 100% hit rate in the final test launch of the U.S. Department of Defense\u2019s Foreign Comparative Testing (FCT) program on Friday, according to the company. The successful evaluation marks Bigung as the first ROK-made guided weapon to be recognized by the U.S. military. The FCT program evaluates […]<\/p>\n","protected":false},"author":10407,"featured_media":2205797,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[24,26],"class_list":["post-2205796","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-briefings","tag-business-economy","tag-defense-security"],"yoast_head":"\nSouth Korea\u2019s cost-effective guided rocket hits bullseye in US military test - KOREA PRO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/koreapro.org\/2024\/07\/south-koreas-cost-effective-guided-rocket-hits-bullseye-in-us-military-test\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Korea\u2019s cost-effective guided rocket hits bullseye in US military test - KOREA PRO\" \/>\n<meta property=\"og:description\" content=\"LIG Nex1\u2019s 2.75-inch guided rocket Bigung achieved a 100% hit rate in the final test launch of the U.S. Department of Defense\u2019s Foreign Comparative Testing (FCT) program on Friday, according to the company. The successful evaluation marks Bigung as the first ROK-made guided weapon to be recognized by the U.S. military. 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