[Asia Economy Reporter Hyungsoo Park] Setrec Eye is showing strong performance. It appears that the news of Hanwha Aerospace, an affiliate of Hanwha Group's aviation and defense sector, acquiring shares has influenced the stock price.
At 9:20 a.m. on the 13th, Setrec Eye was trading at 44,300 KRW, up 7.77% from the previous day.
Hanwha Aerospace announced that it will acquire about 20% of Setrec Eye's issued shares through a new share subscription and additionally acquire convertible bonds, ultimately securing approximately 30% ownership.
Hanwha Aerospace explained, "In the era of 'New Space,' this decision is to invest in domestic companies possessing core technologies related to the promising future growth satellite industry, and in the mid-to-long term, to secure satellite development technology capabilities through synergy with the company to gain technological superiority."
Hanwha Aerospace is responsible for developing the liquid rocket engine for the Korean launch vehicle 'Nuriho (KSLV-2)' related to the space satellite business. Shin Hyun-woo, CEO of Hanwha Aerospace, was appointed as a civilian member of the Presidential National Space Committee in December last year.
Earlier, Chairman Kim Seung-yeon stated in his recent New Year's address, "We must secure future growth engines and expand business capabilities and leadership on the global stage," urging to seize opportunities in new businesses such as aviation and space, mobility, and green hydrogen energy.
According to the 'New Space Era, Domestic Satellite Industry Global Value Chain Entry Strategy' published by the Science and Technology Policy Institute (STEPI), the space industry, which had been dominated by space agencies of some advanced countries and a few defense space companies, is expanding its global value chain through increased commercial use of satellite data, expanded technology exchange with other countries, and the resulting increase in the number of countries investing in space.
Space Angels, a global space investment company in the United States, has attracted a total cumulative private investment of 166 billion USD (approximately 199 trillion KRW) to 1,128 space companies from 2009 through the third quarter of 2020.
Space development, which began as a power struggle among superpowers during the Cold War era, is now continuing in a more efficient manner according to market logic. Private companies such as SpaceX, Blue Origin, and Virgin Galactic refer to government-led exploration during the Cold War as 'Old Space' and differentiate themselves as 'New Space.'
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