Korean Defense Stocks Surge as Middle East Presses for Cheongung-II Deliveries
South Korean defense stocks surged sharply as Middle Eastern nations pressed for faster deliveries of the Cheongung-II air defense system following its combat-proven 96% intercept rate against Iranian missiles and drones. LIG Nex1 shares soared 30%, Hanwha Aerospace gained nearly 25%, and KAI rose over 12%. Combined Cheongung-II contracts in the Middle East now total 9.5 trillion won (~$6.2B), with buyers reportedly willing to pay premiums for expedited delivery of guided missiles.
Related Contracts
Malaysia K-SAAM Haegung Ship-Launched SAM
Malaysia · signed
LIG Nex1 Electronic Warfare Aircraft System
South Korea · signed
Saudi Arabia Cheongung-II Air Defense System
Saudi Arabia · signed
Iraq Cheongung-II (M-SAM) Air Defense System
Iraq · in_delivery
UAE Cheongung-II (M-SAM) Air Defense System
United Arab Emirates · in_delivery
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