Korea Aerospace Industries (KAI) announced on July 18 that it had signed a contract with SpaceX for the next-generation mid-size satellite No.4.
KAI is also considering strategic cooperation with SpaceX, which has a high launch success rate and low cost.
KAI Chief Financial Officer (CFO) Kim Jung-ho met with a senior SpaceX official in the United States in May to discuss SpaceX’s entry into the Asian market and confirmed the possibility of joint cooperation between KAI and SpaceX.
The contract would have taken another step into the new space age by taking responsibility for launching the next-generation mid-size satellite, a standard 500 kg satellite platform in Korea.
The launch of satellite No. 1 was carried out by the Korea Aerospace Research Institute. From the launch of satellite # 2, KAI will be responsible for the entire development process from # 2 to # 5.
KAI plans to launch satellites 2 early next year and develop satellites # 3 through # 5 with the goal of launching them by 2025.
Han Chang-heon, director of KAI’s future business division, said, “KAI is considering mergers and acquisitions or a strategic partnership to analyze satellite imagery and provide high value-added services such as climate and land management. .
Meanwhile, KAI, which launched the New Space TF in February, aims to complete a company-centric value chain by the end of this year to secure future growth drivers for the estimated 500 space market. Trillion Korean Won.
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