Dongkwan Kim, President of Hanwha Solutions. Provided by Hanwha Communication Committee
Hanwha Group launched the’Space Hub’, which will oversee the space industry within the group, and will enter the space industry in earnest. Hanwha announced on the 7th that “a’space hub’ that will lead the entire space industry will be launched.”
Hanwha Solutions President Kim Dong-gwan will lead the organization as the space hub team leader. President Kim was recommended as a registered executive of Hanwha Aerospace on the 26th of last month. The team leader at Space Hub is his first seat.
Hanwha Aerospace engineers who participated in the development of the Korean launch vehicle’Nuri’ are in charge of the hub, Hanwha Systems’ communication and imaging equipment experts, Hanwha’s experts in each field of weapon systems, and Hanwha Aerospace’s recently acquired private satellite company Se Trek Eye is also expected to participate in the future.
President Kim Dong-gwan said, “I saw that in order to compete with world-class companies, professionalism and full support are needed,” and “I will find a shortcut to space with engineers.”
Space Hub. Hanwha offer
Hanwha Group explained, “The Space Hub is not an organization at the top of each company, but a comprehensive situation room in the space sector full of realism.”
In the long term, Hanwha Group explained that the space industry can be promoted by loading the satellite of Setrec Eye on the Hanwha Aerospace launch vehicle and the communication system of Hanwha Systems.
Hanwha plans to monitor trends in overseas private space projects and set research directions and business models through the Space Hub.
The space hub will focus on research and investment by dividing into the field of production such as launch vehicles and satellites, and service fields such as communication, earth observation, and energy. We plan to actively recruit talented people in the field.
It will also examine ways to link the solar technology of Hanwha Solutions, the number one solar module market in the United States, and Shimaron, an American hydrogen and space tank company acquired by Hanwha Solutions, with the space business.
President Kim Dong-gwan said, “What someone should do is the space industry,” and said, “We will develop with the attitude of fulfilling our social responsibilities.”
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.
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