KAI Launches New Space TF to Proactively Respond to Changes in the Space Industry

[Asia Economy Reporter Dongwoo Lee] Korea Aerospace Industries (KAI) announced on the 3rd that it has launched the 'New Space Task Force (TF)' at its headquarters in Sacheon, Gyeongnam, to proactively respond to changes in space industry trends.

The New Space TF was formed by consolidating internal capabilities such as the company-wide strategy group and finance group, with the head of the Future Business Division as the TF leader. Through this, KAI aims to complete a company-centered value chain to secure future growth engines in the space market, which is estimated to be worth 500 trillion won.

Based on its core competencies and competitiveness, KAI is striving to establish a foundation for a leap forward through business diversification such as transitioning to a market-leading system and strategic alliances. First, it plans to explore specific cooperation plans with specialized space institutions, companies, and startups and establish execution plans.

KAI signed a business agreement with the Korea Advanced Institute of Science and Technology (KAIST) on the 18th of last month to develop satellite convergence solutions by integrating small and ultra-small satellite technologies with medium and large satellites, thereby expanding its space business domain. Additionally, it completed the largest private space center in Korea last August, capable of simultaneously producing more than 20 ultra-small satellites and handling satellite design, manufacturing, assembly, and testing.

Previously, since 1994, KAI has actively participated in the development of various satellites such as multipurpose practical satellites, next-generation medium satellites, and geostationary orbit complex satellites. It has also secured capabilities as a total solution provider in the space sector by domesticating key components of lunar orbiters in preparation for the space exploration era and manufacturing and assembling large propellant tanks for Korea's launch vehicle Nuriho.

A KAI official stated, "We have secured investments and technologies for the development of the domestic space industry over 25 years," adding, "We will lead the New Space era by completing a KAI-centered value chain."