Yongin: LIG Nex1 Co., a prominent South Korean defense firm, announced on Tuesday that it has officially changed its corporate name to LIG Defense and Aerospace, or LIG DandA. This change is part of the company's strategic initiative to establish itself as a global defense entity. The name change received approval during a shareholders meeting held in Yongin, located south of Seoul.

According to Yonhap News Agency, this marks the first time the company has undergone a name change since it was rebranded as LIG Nex1 from Nex1 Future in 2007 after becoming part of the LIG Group. The company has stated that the new name embodies its dedication to embracing new challenges while continuing a legacy that spans over five decades.

LIG DandA has announced increased investments in future defense sectors. These investments include satellite systems, next-generation aerial weapons, and unmanned platforms, aimed at diversifying its business portfolio. Furthermore, the company has plans to expand its market presence in Europe, the United States, and South America, moving beyond its current markets in the Middle East and Asia.

A company official stated, "This name change is not just a simple change of name, but a promise to evolve into a global technology company that protects the safety and peace of humanity through technological innovation."