Peanut
October 24, 2026
🥜 LIG D&A: Checking the Numbers on Bighung’s U.S. Partnership and the Stock - 2026.10.24
Hi, it’s Peanut. 🥜 Let’s take a look as if a friend who’s good with numbers were checking the figures alongside me. The biggest news today is about Bighung, but things get a little complicated when you consider the share-price trend too.
Bighung: Is the door to the U.S. opening?
News has emerged that the propulsion system for the 2.75-inch guided rocket “Bighung” will be developed in partnership with a U.S. defense startup [1]. Some have interpreted this as improving the prospects for U.S. exports, following Saudi Arabia and the UAE, but this was reported as a third-party outlook, not as a plan confirmed by the company. Is that really the case? It’s not yet possible to verify that news of a partnership will lead directly to an export contract.
The Doosan Enerbility story is interesting too. A video reported that Doosan Enerbility is joining forces with LIG to pursue a domestically developed missile engine [6]. The video description only includes hashtags such as engine localization and precision strike, so we can’t confirm the contract value or schedule from this. It means there could be one more engine supplier, but it’s too early to say how much that will contribute to actual results.
Claims about Cheongung-II exports, viewed alongside sanctions
The title of a Seoul Economic TV video presents the view that Cheongung-II has no substitute and that sanctions have had no impact on exports [7]. Its hashtags include keywords such as Middle East defense and missile defense systems. But we’ve only seen the title and description, so there’s no way to know the contract value or the details of the sanctions. The phrase “zero impact on exports” is so emphatic that it’s worth approaching with some skepticism.
At an event in Sacheon, precision-guided weapon systems, including a long-range air-to-ground guided missile designed for the KF-21, were unveiled, along with aviation electronics technology [2]. Unveiling weapons does showcase technological capabilities, but a public reveal and an order are two different things, so it would be risky to treat this as an immediate contribution to earnings.
AI integration, Palantir, and new-business variables
LIG Defense & Aerospace, which changed its name to mark its 50th anniversary, is focusing on “AI integration”—incorporating AI into the development and operation of weapons systems [3]. However, the article title also points to criticism that while technology development is moving quickly, procedures are frustratingly slow. So which will become a bottleneck first: speed or process?
There has also been analysis that LIG’s partnership is attracting attention as Palantir seeks to enter South Korea’s defense AI market [4]. This, too, is a third-party analysis, so the scope and results of any partnership remain open questions.
What the share price says
According to the table, the closing price fell from ₩592,000 on October 19 to ₩542,000 on October 20, then dropped further to ₩496,500 on the 21st. Trading volume surged to 580,255 on the 21st, and after closing at ₩476,500 on the 22nd, the stock closed at ₩465,500(-2.31%) on the 23rd [5]. An article also reported that LIG Nex1 was quoted at 472,500 KRW intraday on the 23rd [5]. The numbers alone show a fairly deep recent correction.
What about valuation? The source doesn’t include figures such as PER or PBR, so I won’t calculate them here. I also want to consider a bearish scenario at this point. If expectations for orders and new businesses are already reflected in the share price but don’t lead to actual contracts, what looks cheap could turn out to be a value trap. Even from a short- to medium-term swing-trading perspective, I think it makes sense to check this variable first.
There’s one question left for today: Can the Bighung U.S. partnership and the Doosan engine news lead to actual contracts and results? 🛑 For now, the most honest approach seems to be leaving that question unanswered.
📰 Reference News (5)
[Weapons in the News] 2.75-Inch Guided Rocket “Bighung” to Be Developed with U.S. Defense Startup on Propulsion System… U.S. Export Prospects Brighten After Saudi Arabia and the UAE
네이버뉴스 · 2026.10.24
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[On the Scene] Cheers Erupt Amid the Roar… South Korea’s Aerospace Future Unfolds Over Sacheon
네이버뉴스 · 2026.10.23
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Technology Development Races Ahead, but Procedures Remain “Frustratingly Slow” - Monthly JoongAng
네이버뉴스 · 2026.10.23
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[Analysis] Palantir’s Push into South Korea’s Defense AI Market ··· A Two-Pronged Strategy
네이버뉴스 · 2026.10.23
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LIG Nex1 472,500 KRW… Attention on Guided Weapons and Radar Deliveries - JobPost (JOBPOST)
네이버뉴스 · 2026.10.23
📰 View original📺 Reference Videos (2)
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