Space New Deal "Lowered Entry Barriers by Easing Solid Fuel Regulations"

Cheongwadae Views Solid Fuel Space Launch Vehicle Development
Foundation for Various Launch Vehicle Developments, Easing Barriers to Private Space Entry
Golden Time for Korean Companies in the New Space Era
No Plans for Financial Support to Private Space Companies

[Asia Economy Reporter Junho Hwang] The government evaluated that the revision of the South Korea-U.S. missile guidelines has lowered the entry barriers for space exploration in the civilian sector. It is seen as an opportunity for Korean companies to challenge the space industry in line with the 'New Space' era, where space development projects are shifting from government-led to private cooperation, including in the U.S. Science and Technology Advisor to the Blue House, Park Su-kyung, explained the economic impact of the missile guideline revision during a briefing on the 29th.

The Blue House expects that the revision will expand opportunities for space development in the civilian sector. Advisor Park said, "From the perspective of technological diversification, various space launch vehicles using solid and liquid fuels can be developed," adding, "It will become possible to manufacture and operate launch vehicles at low cost using solid fuel in the civilian sector aiming for space development, making private sector participation in space development easier."

He stated, "For example, defense companies that have accumulated solid fuel technology can now enter the civilian launch vehicle market," and "In the future, small satellites for communication and observation, which are expected to grow explosively, need to be placed on launch vehicles, and competitiveness in such markets is also expected to rise in the private sector."

In particular, with the recent growth of the small satellite industry, the demand for launch vehicles capable of sending various satellites into space has increased, and the guideline revision is analyzed to drive the growth of the domestic launch vehicle industry.

Advisor Park said, "In the past decade, 1,500 small satellites such as communication satellites like 5G and 6G and observation satellites have been launched, and it is forecasted that 8,600 will be launched within the next 10 years," adding, "Securing launch vehicles capable of sending various satellites into space will be a competitive advantage." He continued, "About 30 companies worldwide have entered the launch vehicle service market, and Korea has utilized SpaceX, a U.S. private space launch vehicle company, but now Korea has gained an opportunity to newly enter the market," emphasizing, "Currently, there are about 58 satellite-related companies and personnel, which are expected to increase to about 70 companies and from 880 to 1,000 personnel by next year."

However, Advisor Park said that there are no plans for new financial support or new policy preparations following the guideline revision. He explained, "The government is currently developing basic technologies related to space development. Various private companies are participating in projects conducted by the Korea Aerospace Research Institute," and added, "Rather than preparing financial support for companies, please understand this as a continuous investment in such research and development."

The test launch vehicle of the Korean-type launch vehicle 'Nuriho' is mounted and standing upright on the launch pad at Naro Space Center in Goheung, Jeollanam-do on the 27th. The test launch vehicle is scheduled to be launched in the afternoon of the 28th. (Provided by Korea Aerospace Research Institute)

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