[News Figures] CEO Kim Sujong Dreaming of 'Korea's SpaceX'

Established Innospace in 2017 after graduating from Korea Aerospace University
First domestic company to launch a private rocket into space
Elon Musk watches... Dreaming of being 'Korea's SpaceX'

Domestic space startup Innospace announced on the 21st that its independently developed engine verification test launch vehicle 'Hanbit-TLV' was successfully launched and flew. Although it was a test launch for flight performance verification, this is the first time a privately developed rocket by a domestic company has flown into space.

According to Innospace, 'Hanbit-TLV' was launched from the Alc?ntara Space Center in Brazil at 2:52 PM local time on the 19th (2:52 AM Korean time on the 20th). The engine burned for 106 seconds, followed by normal flight for 4 minutes and 33 seconds, and then it safely fell within the designated safety zone over the Brazilian sea.

The payload carried by 'Hanbit-TLV', the inertial navigation system 'SISNAV' from the Department of Aerospace Science and Technology (DCTA) under the Brazilian Air Force, also successfully secured operational performance data in the flight environment, confirming the successful completion of the mission. The exact flight altitude of the test launch vehicle was not disclosed at the request of the Brazilian Air Force.

CEO Kim Su-jong of Innospace. Photo by the company's official website capture.

Kim Su-jong, CEO of Innospace, who founded the company in September 2017, was born in 1976 and majored in mechanical design at Korea Aerospace University, earning master's and doctoral degrees in aerospace engineering. He then conducted postdoctoral research on launch vehicles for three years at the Technion ? Israel Institute of Technology.

The Technion, located in Haifa, Israel, is a science and engineering-focused university established in 1924. Revolutionary inventions such as the USB memory, now an essential item for modern people, and Israel's missile defense (MD) system, the Iron Dome, were all first developed by Technion alumni. Israel has four Nobel Prize winners in Chemistry, three of whom graduated from the Technion, highlighting its reputation for nurturing innovative talent. After completing his research, CEO Kim returned to Korea and worked as a researcher in the solid rocket sector at Hanwha Defense.

CEO Kim said that his childhood dream was to develop rockets. In an interview during a visit to his alma mater (Korea Aerospace University) in September last year, he stated, "Since I was young, developing space rockets was my only dream. Pursuing that dream, I met great people who supported me, and through continuous learning and experience, I founded the domestic launch vehicle company Innospace." In an October 2021 interview with Monthly JoongAng, he also said, "I have been watching Elon Musk since he first started developing rockets. Although there are big differences in technology and national power, my dream is to grow Innospace into 'Korea's SpaceX.'"

Hanbit-TLV standing on the launch pad. Photo by Innospace

Innospace reportedly does not accept investments from countries like the United States and only receives investments from domestic companies. Regarding this, CEO Kim said in the interview at his alma mater, "The moment we accept American capital, Innospace would become an American company, and there would no longer be a place for domestic engineering students. Innospace is not only establishing its corporate identity but also supporting the dreams and passion of Korean engineering students by attracting only domestic investments."

According to the investment banking (IB) industry on the 21st, Innospace has attracted about 55.2 billion KRW in investments so far, recognized for the potential of Korea's first hybrid rocket.

Meanwhile, regarding the success of the Hanbit-TLV test launch, CEO Kim said, "It means that we have secured the technological capability to independently develop rockets and opened the door to the global space launch service market."