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Korea Herald
3 days ago
- Business
- Korea Herald
South Gyeongsang Province inks space tech deal with Finland's ICEYE
South Gyeongsang Province has signed an investment and business cooperation agreement with ICEYE, a Finnish global leader in synthetic aperture radar technology for small satellites, the province announced Thursday. The agreement was formalized on Monday in Copenhagen, Denmark, during a visit by a delegation from the province led by Governor Park Wan-soo. South Gyeongsang Province is home to the nation's newly established space agency, the Korea AeroSpace Administration. The partnership aims to support the province's growing aerospace industry by integrating ICEYE's advanced satellite capabilities. ICEYE operates the world's largest fleet of SAR satellites, which provide high-resolution Earth observation data — up to 25 centimeters — regardless of weather or lighting conditions. To date, the company has launched 48 satellites for both internal and client missions. SAR technology, which uses radar to capture images of the Earth's surface, is effective for observation at night or through cloud cover. It is used across a range of sectors, including disaster monitoring, national defense and environmental surveillance. Under the agreement, the two parties plan to explore joint initiatives such as partnerships with local companies, expanded use of satellite constellations, promotion of the satellite data industry and development of related talent. 'South Gyeongsang Province is the center of South Korea's aerospace industry, ranking first nationally, and this agreement with ICEYE will serve as a turning point for expanding our aerospace industry into the global market,' Governor Park said. 'The province will provide full support to ensure successful cooperation between the two parties.'
Hans India
08-05-2025
- Business
- Hans India
Korea's space agency seeks revision of plan to modify next-gen rockets into reusable system
Seoul: South Korea's aerospace agency said on Thursday that it has formally requested a government review to revise the development plan for its next-generation space launch vehicle, aiming to shift toward a reusable rocket system. According to the Korea AeroSpace Administration (KASA), the agency submitted a request to the finance ministry last week for a feasibility reassessment of the project revision, yonhap news agency reported. KASA announced in February that it plans to modify its next-generation space rocket into a reusable system and acquire such technology by 2035. In its reassessment request to the ministry, the administration said the envisioned change will be part of its broader strategy to respond to the rapidly shifting landscape of the global space industry. "The transition to a reusable launch vehicle is crucial to enhance competitiveness and respond to emerging trends in space launch development," KASA said in a statement. "We expect this reassessment to serve as a turning point in the project." KASA said it will work closely with the ministry to ensure the revised project plan is thoroughly prepared without any delays. Meanwhile, KASA also plans to establish a cross-sectoral education system aimed at fostering a total of 30,000 aerospace talents by 2045 as part of its long-term strategy to become a global space powerhouse in the face of the New Space era, Yonhap reported. The ambitious plan is designed to build a space industry ecosystem in response to the New Space era, which refers to the increasing role of private companies in the space sector. Under the plan, the agency will collaborate with related government ministries to expand the young talent pool in space science, foster mission-oriented specialists, and train a field-ready workforce. To achieve such a goal, KASA will also develop space education programmes for students. The agency aims to increase the number of young aerospace trainees from 300 to 1,500 per year.
