The Gyeongnam delegation, led by Park Wansu, Governor of Gyeongnam Province, has established a strategic foundation for cooperation in the global space industry ecosystem by combining Gyeongnam's space industry with Finland's advanced satellite technology.
On June 16, at 9:00 a.m. local time, the Gyeongnam delegation signed an investment attraction and business agreement with ICEYE, a global small synthetic aperture radar (SAR) satellite company based in Finland.
Park Wansu, Governor of Gyeongnam Province (right), is shaking hands with Joost Elstak, Executive Vice President of Iceye Global Mission, after signing an investment attraction and business agreement. Provided by Gyeongnam Province
The signing ceremony, held at the Radisson Blu Scandinavia Hotel in Copenhagen, Denmark, was attended by Governor Park, Joost Elstak, Executive Vice President of Iceye Global Mission, and Eric Rhee, Head of Iceye Korea.
ICEYE is recognized as a global leader in the operation of synthetic aperture radar (SAR) satellites for Earth observation.
The company owns and operates the world's largest SAR satellite constellation, enabling the provision of near real-time imagery from anywhere around the globe.
Synthetic aperture radar is a technology that uses radio waves to observe the Earth's surface, allowing for high-resolution imaging even in cloudy weather or at night. This technology is applied in various fields, including disaster monitoring, national defense and security, and environmental monitoring.
ICEYE's SAR satellites offer industry-leading resolution of 25 centimeters, enabling precise object detection and situational awareness regardless of weather or lighting conditions.
To date, ICEYE has successfully launched a total of 48 satellites for both its own operations and for clients.
Park Wansu, Governor of Gyeongnam Province (right), and Joost Elstak, Executive Vice President of Iceye Global Mission, are signing an investment attraction and business agreement. Provided by Gyeongnam Province
On this day, Governor Park stated, "Gyeongnam is the center of the aerospace industry in Korea, ranking number one nationwide in the space and aerospace sector. This agreement with ICEYE will mark a turning point for Gyeongnam's aerospace industry as it expands into the global market."
He added, "We will do our utmost to ensure successful cooperation between both parties."
With this agreement, Gyeongnam Province plans to jointly explore the possibility of establishing joint ventures between ICEYE and local space-related companies, expand the use of satellite data, and promote various collaborative projects such as fostering specialized talent.
In addition, the province will seek to build partnerships with local space-related companies, promote the broader use of domestic satellite constellations, vitalize the satellite data industry, and nurture future talent through a variety of cooperative initiatives.
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