Hanwha Aerospace announced on the 7th that it will launch a space hub that brings together core technologies related to the space industry that have been scattered across several companies within the Hanwha Group.
President Kim is in charge of leading the Space Hub. President Kim was recommended as a registered executive of Hanwha Aerospace on the 26th of last month. The space hub is centered on Hanwha Aerospace engineers who participated in the development of the Korean launcher, Nuri.
President Kim said, “To compete with world-class companies, expertise and full support are needed, so we will find a shortcut to space with our engineers.” “He said.
According to this, Hanwha Systems’ communication and video equipment specialists, Hanwha Corporation’s specialists in each field of weapon systems, and the satellite start-up Setrec-I officials recently acquired by Hanwha are also expected to participate in the future.
Private space development is a rapidly growing field worldwide. Morgan Stanley predicts that the space industry market will grow to about 1.1 trillion dollars (about 1220 trillion won) in 2040, led by private companies. US SpaceX and Blue Origin are already paying off.
Hanwha plans to check overseas private space business trends and establish research directions and business models through the Space Hub. Space Hub focuses on research and investment by dividing into the fields of production such as launch vehicles and satellites, and services such as communication, earth observation, and energy.
It was also decided to actively recruit talented people in the field. It will also study ways to link Hanwha Solutions’ solar technology with the space business, such as the technology of US-based hydrogen and space tank specialist Shimaron acquired by Hanwha Solutions.
In the long term, Hanwha Group explained that the space industry can be promoted by loading Setrec-I’s satellite on the launch vehicle of Hanwha Aerospace and the communication system of Hanwha Systems. It is also considering ways to advance into the satellite communications field where SpaceX and Amazon are competing.
Hanwha believes that it will require a lot of investment in order to secure global competitiveness in the short term in the space business, and is reviewing the specific investment scale.
An official from Hanwha Aerospace said, “SpaceX has invested 500 billion won in the development of the Falcon 9 launch vehicle.”
Dongkwan Kim, President of Hanwha Solutions.[사진=한화솔루션 제공]