[Featured Stock] Contec Rises 3.82% on Expectations of Benefits from Space Aviation Agency

The stock price of Contec, a satellite solutions company, is on the rise on the 24th. Established in 2015 as a spin-off from the Korea Aerospace Research Institute, it is a specialized company providing platform services related to satellite data and integrated services for ground station design and construction.

As of 9:57 AM on the day, Contec is trading at 17,920 KRW, up 660 KRW (3.82%) compared to the previous trading day.

On January 9th, the plenary session held at the National Assembly passed the Special Act on the Establishment and Operation of the Space Aviation Agency (alternative bill). Photo by Hyunmin Kim kimhyun81@

Kim Doohyun, a researcher at Hana Securities, said, "As satellites have become ultra-small, standardization of component procurement has been achieved, leading to cost reductions and making it easier for private companies to enter the industry." He added, "With the establishment of the domestic Space Agency scheduled for next month, a favorable environment is expected to be created for the business expansion of private companies."

He continued, "Accordingly, the number of launch satellites is expected to continue increasing. Since this directly leads to an increase in ground station installations, Contec, focusing on ground station system solutions and satellite data services, is judged to be a key beneficiary of the growth in the space industry."