Chollian Satellite 5 Project to Begin in Earnest
Private Sector to Lead Korea's Geostationary Satellite Development
The 'Chollian Satellite 5 Development Project' is set to be actively promoted with a launch target of 2031.
The Korea Aerospace Administration and the Korea Meteorological Administration announced on the 24th that they held the 8th Geostationary Orbit Complex Satellite Development Project Promotion Committee meeting at the Seoul Station Airport Railroad conference room, where they reviewed the 'Geostationary Meteorological and Space Weather Satellite (Chollian Satellite 5) Development Project,' Korea's third meteorological satellite development project.
Reflecting the results of the Promotion Committee's review, the Aerospace Administration and the Meteorological Administration plan to officially start the project by announcing the project guide in February and proceeding with the selection of contractors for the Chollian Satellite 5 Development Project.
Until now, the Promotion Committee had mainly discussed the Chollian Satellite 3 Development Project, but it has now begun full-scale discussions on the Chollian Satellite 5 Development Project as well.
The Chollian Satellite 5 Development Project is the first domestic geostationary satellite development project in which a private company will lead the satellite system integration, marking a major turning point in Korea's geostationary satellite development.
The Aerospace Administration expects that this Chollian Satellite 5 Development Project will accelerate the era of private-sector-led geostationary satellite development in Korea, in line with the government's space industry promotion strategy.
Kim Jin-hee, Chairperson of the committee and Head of the Satellite Division at the Aerospace Administration, said, "This Promotion Committee was a decision-making committee for the newly launched geostationary satellite development project," adding, "Starting with today's Promotion Committee, I hope this will serve as a catalyst for future domestic geostationary satellite development projects to be led and grown by the private sector."
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