The Defense Acquisition Program Administration(DAPA) said on Friday that it has signed a deal worth 330-point-six billion won, or around 249 million dollars, with local defense company LIG Nex1 for the development of a long-range ship-to-air missile. 

The “Ship-to-Air Missile II,” a new long-range air defense guided weapon, will be equipped on the 65-hundred ton Korea Destroyer Next Generation(KDDX), the Navy’s next-generation destroyer currently under development. 

The ship-based missile interceptor will protect the warship from enemy aircraft and cruise missiles. 

The KDDX will be a smaller Korean version of the U.S.’ Aegis destroyer, which will be equipped with a locally-developed combat system comparable to the U.S.’ Aegis naval weapons system. Guided weapons on the KDDX will also be developed with local technology. 

The new long-range ship-to-air missile will be developed as an advanced weapons system capable of precision guidance and search capabilities, replacing the U.S.-made Standard Missile-2(SM-2) currently used by the South Korean military. 

LIG Nex1, a company with extensive experience developing precision guided weapons, will develop the new missile by 2030 under the contract.