South Korea's defense company LIG Nex1 has announced a significant $2.78 billion deal with Iraq's defense ministry to export their medium-range surface-to-air missile defense system, Cheongung-II. This contract marks the third such deal valued over 1 trillion won for LIG Nex1, following agreements with the United Arab Emirates and Saudi Arabia. The Cheongung-II system comprises four launch vehicles with eight tubes, a multi-function radar, and traffic management command capabilities, and will be manufactured by LIG Nex1 in collaboration with Hanwha Systems and Hanwha Aerospace, subsidiaries of the Hanwha Group. The state-of-the-art Cheongung-II missile system, which entered mass production in 2018, is equipped with advanced technologies for intercepting aircraft and missiles, engaging multiple targets, and delivering munitions rapidly. LIG Nex1 anticipates that this export deal will enhance the export of long-range high-altitude missile defense systems to countries like Iraq, the United Arab Emirates, and Saudi Arabia. The company credits the unwavering support of the South Korean government as instrumental in securing this deal, emphasizing the challenges faced by newcomer countries in the defense industry when exporting guided weapon systems. LIG Nex1 aims to leverage this agreement to create new opportunities for Korea's small and medium-sized defense companies in global markets and elevate the nation's defense industry profile.