LIG Nex1, UK’s Babcock sign MOU to develop global MRO market

LIG Nex1 Co., a leading defense systems developer in South Korea, announced on Wednesday that it had signed a comprehensive memorandum of understanding (MOU) with UK defense contractor Babcock International Group PLC.

The partnership aims to enhance collaboration on maintenance, repair, and overhaul (MRO) development and global market expansion.

The MOU, signed on Tuesday at the Euronaval 2024 event in Paris, brought together senior representatives from both companies, including ParkTae-Sik, LIG Nex1’s PGM Division Head and Mark Goldsack, Managing Director of Business Growth and AUKUS at Babcock.

The agreement focuses on jointly entering the global MRO market and establishing an integrated supply chain. It also includes provisions for collaboration on training center operations, as well as the development and production of new weapons.

Park emphasized the importance of sustainable MRO capabilities for South Korea's defense competitiveness, expressing optimism about expanding LIG Nex1’s international footprint.

Write to Hyung-Kyu Kim at khk@hankyung.com