Kolon Reaps Rewards from Space Industry Investment... Successful Launch of Private Launch Vehicle

Kolon Group's investment in the space industry is bearing fruit.

On the 21st, Kolon Group affiliates participated in the 'Hanbit-TLV' project, the first domestic private test launch vehicle, which successfully launched at the Alc?ntara Space Center in Brazil. Kolon Deck Composite is a key parts supplier for the 'Hanbit-TLV,' while Kolon Glotech is a strategic investor (SI), and investment company Kolon Investment is a financial investor (FI).

The 'Hanbit-TLV,' the first domestic private test launch vehicle that successfully launched on the 21st, is preparing for launch at the Alc?ntara Space Center in Brazil.

This launch vehicle applied various key components produced based on Kolon Deck Composite's technology for developing ultra-lightweight, high heat-resistant composite parts.

They supplied core components for the propulsion system that provides thrust to ensure the launch vehicle properly settles into orbit. Kolon Deck Composite's high-performance composite material parts were applied from the pressurized tanks storing high-pressure helium and nitrogen gases, to the composite combustion chamber responsible for storing hybrid propellant and handling high-temperature, high-pressure combustion processes, and the composite nozzle assembly that converts combustion gases discharged at ultra-high temperature and pressure into kinetic energy to generate thrust.

Additionally, Kolon Deck Composite manufactured and installed the high-rigidity nose cone fairing, which safely protects payloads such as satellites mounted on the upper part of the launch vehicle.

Kolon Group not only supplied parts but also invested in Innospace. Kolon Investment began investing 1 billion KRW in 2019 and added another 1 billion KRW the following year.

In 2021, Kolon Glotech, a mobility materials and parts specialist affiliate, invested 6 billion KRW, and Kolon Investment added another 2.8 billion KRW, increasing the total investment by Kolon Group affiliates in Innospace to 10.8 billion KRW. This accounts for 17.7% of Innospace's total shares (as of March 2023), making it the largest external investor.

Kolon plans to leverage the successful launch of this small launch vehicle as a stepping stone to actively expand its presence in the private space industry. The company intends to broaden its business areas by continuously reviewing investments in domestic space development sectors such as satellites, control, and communications.

According to Research and Markets, the global satellite launch vehicle market is expected to reach approximately $29.6 billion by 2027, growing at an average annual rate of 15.1%. Currently, U.S. SpaceX has launched about 1,000 satellites weighing 400 kg each and plans to launch up to 12,000 more. Global IT companies such as Amazon and Facebook also plan to launch hundreds of small- and medium-sized satellites.

A Kolon representative said, "As private companies enter the space development sector, which was previously led only by the government, with their own capital and technology, rapid growth is expected." He added, "Once the private space market is established, commercial satellites can be launched into space more cheaply and quickly, and the sizes of launch vehicles will also diversify."