Lumir: "We Will Grow into a Traditional Space Company Encompassing Old Space and New Space"

Earth observation SAR satellite development specialist Lumir was listed on the KOSDAQ market on the 21st.

Based on the funds secured through the listing, Lumir will focus on building its self-developed LumirX constellation satellites and strengthening its research and development (R&D) infrastructure.

CEO Nam Myung-yong said, "We are grateful that many institutional investors trusted our company's vision and growth potential and actively participated in the demand forecast," adding, "The SAR satellites owned by Lumir boast an ultra-high resolution of 0.3m, which is among the best in the world."

He continued, "Lumir has secured stable revenue from national space projects," emphasizing, "We will solidify our position as a traditional space company encompassing both Old Space and New Space by commercializing image and information service sales through our self-developed SAR satellite LumirX."

Lumir participated in the development of all five units of the nation's flagship satellite series, the Next-Generation Medium-Sized Satellites 1 through 5. By securing the entire C-band imaging radar system for the Next-Generation Medium-Sized Satellite 5, Lumir has firmly established its position in the satellite development industry. Through the successful launch of the Lumir-T1 satellite during the third Nuri rocket launch, the company reached the highest technology readiness level (TRL-9), demonstrating commercializable technological capabilities in both Old Space and New Space sectors.

Based on space technology, Lumir succeeded in developing solenoids for large ships and has entered commercialization. This product is used in fuel control valves of ship engines and applies Lumir's magnetic bearing reaction wheel technology. As of the first half of 2023, it recorded sales of approximately 2.2 billion KRW. Having obtained domestic and international patents as well as the world's first explosion-proof certification, it is expected to play an essential role in improving ship engine efficiency and complying with environmental regulations.

From 2021 to 2023, Lumir's sales grew approximately 2.5 times, and the company forecasts reaching the break-even point (BEP) by 2025. Based on the launch of its first self-developed SAR satellite in 2026, Lumir aims for sales of about 87.6 billion KRW.