Hanwha Solutions President Kim Dong-gwan.
Hanwha Solutions President Kim Dong-gwan, recommended to Hanwha Aerospace’s registered executive, will lead the space business as the team leader of the newly established’Space Hub’ to oversee the space business of Hanwha Group.
On the 7th, Hanwha said, “The’Space Hub’ that will lead the entire space industry will be launched.” “The role of leading the hub is the Hanwha Solutions President Kim Dong-gwan.”
The Space Hub was founded by Hanwha Aerospace engineers who participated in the development of the Korean launch vehicle Nuri. In the future, Hanwha Systems’ communication and video equipment specialists, Hanwha Corporation’s specialists in each field of weapon systems, and Setrec-I personnel who recently decided to work with Hanwha are also expected to participate.
President Kim said, “I saw that in order to compete with world-class companies, we need expertise and full support,” and “I will find a shortcut to space with engineers.”
It is analyzed that Hanwha established the Space Hub in line with the global space development business flow. Morgan Stanley predicts that the space industry will grow to about $1.1 trillion (about 1220 trillion won) in 2040, led by private companies.
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 fields of manufacturing such as launch vehicles and satellites, and services such as communication, earth observation, and energy. It is also planning to actively recruit talented people in the field.
President Kim said, “What someone should do is the space industry,” and said, “I will develop with the attitude of fulfilling social responsibilities.”