Hanwha Aerospace won a contract worth 286 billion won for the ‘Korean Launch Vehicle (Nuriho) Upgrade Project Launch Vehicle General Manufacture’ project from the Korea Aerospace Research Institute (hereinafter referred to as the Korea Aerospace Research Institute).
On the 2nd, Hanwha Aerospace announced that it had won an order to manufacture the Nuriho launch vehicle from Korea Aerospace Research Institute the previous day. Hanwha Aerospace, which signed the main contract after being selected as a preferred negotiating party last month, plans to produce three Nuri vehicles with the Korea Aerospace Research Institute from next year to 2027 and launch additional Nuri vehicles a total of four times.
The ‘Nuriho Upgrade Project’ is a project in which the Ministry of Science and ICT invests KRW 687.3 billion to secure space transportation capabilities by launching Nuriho, a Korean-style space launch vehicle, led by the Aerospace Research Institute and private companies, and to foster and support private system integration companies. It is a government project.
Hanwha Aerospace, which won this project, will sequentially receive Nuri’s system integration technology and launch operation know-how owned by Korea Aerospace Research Institute. Starting with the third launch scheduled for 2023, the plan is to launch Nuri four times until 2027 to launch a practical satellite into orbit that will perform various missions such as space technology verification and ground observation.
Furthermore, we plan to commercialize the space transportation business that sends private satellites, spacecraft, and various materials into space. To this end, Hanwha Aerospace’s strategy is to build a value chain that leads to ‘satellite production → launch and transportation → satellite services’ and secure space exploration technology in the future to grow into Korea’s first total solution provider in the space industry.
Last year, Hanwha Group launched ‘Space Hub’, the group’s space business consultative body, and is continuing to invest by establishing a challenging goal of establishing space exploration and resource securing capabilities in the mid- to long-term in Korea, a leader in the space industry.
In addition, Hanwha Systems acquired British satellite communication antenna company Pager (currently Hanwha Pager) in 2020, and following its equity investment in American satellite communication antenna company Kaameta, secured approximately 9% of the stake in Inweb, the world’s first space internet company, in 2021. We are expanding our space communication service business.
Satrec I, the only company in Korea that has developed and exported satellites, has advanced into the satellite data service business. In addition, Hanwha Aerospace, which merged with Hanwha Defense, plans to diversify its launch vehicle capabilities by merging with Hanwha Defense in March next year.
An official from Hanwha Aerospace said, “The additional launch of Nuri is a challenging project with no certainty of success, but the additional launch was successful thanks to the accumulated capabilities of Korea Aerospace Research Institute, the technology of over 300 domestic companies, and Hanwha’s passion for the space business.” “We will take Korea’s space industry to the next level,” he said.
Source: Pangyo Techno Valley Official Newsroom
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