Hanwha Solutions President Kim Dong-gwan leads the group space industry… Launches Hanwha’Space Hub’

Hanwha Solutions President Kim Dong-gwan leads Hanwha Group’s space business. It is a structure in which Hanwha Group launches the’Space Hub’, which oversees the space industry, and President Kim takes the lead of the business as the team leader.

On the 7th, Hanwha announced that it has launched a space hub that will lead the entire group space industry. Hanwha Aerospace engineers are the center of the hub. They have participated in the development of the Korean launch vehicle Nuri.

The space hub is managed by Kim Dong-gwan, president of Hanwha Solutions. Earlier, he was on the 26th of last month as a registered executive at Hanwha Aerospace.

President Kim aims to speed up the development of the space industry by bringing together experts from Hanwha Systems communication and imaging equipment, Hanwha Weapon Systems Co., Ltd., and experts from Setrec I, a domestic satellite company that recently acquired a stake.

He said, “I think that in order to compete with world-class companies, we need to improve our expertise and provide full support,” and “I will find a shortcut to space with engineers.

The reason why Hanwha started space development with President Kim at the fore is because the market outlook is bright. Morgan Stanley predicts that the space industry market will grow to about 1.1 trillion dollars (about 1220 trillion won) in 2040 under the leadership of the private sector. In particular, as Hanwha Solutions acquired Shimaron, a U.S. hydrogen and space tank specialist, synergy is expected in the space business.

Hanwha plans to monitor foreign private space business trends and set research directions and business models through the Space Hub. In addition, research and investment will be concentrated in the fields of production such as launch vehicles and satellites, and the fields of communication, earth observation, and energy, and actively recruit talent.

President Kim Dong-gwan said, “What someone has to do is the space industry,” and said, “We will focus on development with the attitude of fulfilling our social responsibilities.”

Reporter Ryu Tae-woong [email protected]