It has fire-and-forget capability using an infrared imaging seeker and has a tandem-warhead to defeat explosive reactive armor.

[10] LIG Nex1's priorities during development were world-class performance, weight, export competitiveness through localization of core components, cost-efficiency, and reliability.

[11] On May 30, 2017, it successfully completed the quality certification test of Raybolt organized by the Defense Acquisition Program Administration (DAPA).

[13] South Korea's 1970s-vintage TOW missiles lacked tandem-warheads and would not be able to destroy modern North Korean tanks equipped with explosive reactive armor (ERA).

[13] The Raybolt is produced by LIG Nex1 in cooperation with South Korea's Agency for Defense Development (ADD), under the auspices of the DAPA.

The Raybolt missile and Observation and Launch Unit (OLU) can either be vehicle-mounted or carried as a manpack by two men.

[14] The Raybolt's HEAT tandem warhead can penetrate 900 mm of RHA beyond defeating ERA,[16] which is described as "excellent performance" by DAPA.