Kim Dong-gwan's Launch of 'Hanwha's Space'

Satellite Developer Setrec-i
Secures Ultra-High-Resolution Observation Satellite
Launch Target Early 2024
30cm-Class Only Two Locations Worldwide

[Asia Economy Reporters Choi Dae-yeol and Jung Hyun-jin] Kim Dong-kwan, President of Hanwha Solutions, who joined the satellite system developer Satrec Initiative as a registered executive in February, announced that the company will directly operate a super-high-resolution observation satellite in early 2024.

Super-high-resolution satellites capable of identifying types of vehicles on the ground are currently operated by only a very few countries such as the United States and France. Satrec Initiative, the only company in Korea developing and exporting satellite systems, has already developed and secured super-high-resolution observation technology. With Hanwha's financial backing, the company is expected to secure the capacity to operate satellites independently, enabling broader utilization of space-related business models.

Satrec Initiative announced on the 18th that it will develop a commercial Earth observation satellite called SpaceEye-T. This satellite will have a super-high resolution of about 30 cm, and the company aims to complete development by 2023 and launch it in early 2024. A 30 cm super-high resolution means that an object measuring 30 cm by 30 cm on the ground corresponds to one pixel. Currently, only about two private companies worldwide, including Airbus, are known to develop and operate observation satellites at this level.

Until now, Satrec Initiative has received orders for satellite systems from various governments and sold them to domestic and international clients but did not operate satellites directly due to the considerable operating costs. Although the company has a subsidiary that sells satellite imagery and services, it has utilized images obtained from government-owned satellites such as Arirang 2 and 3. A company official explained, "Operating satellites independently will not only provide price competitiveness but also allow faster responses to customer demands."

Setrec Eye Low Earth Orbit Earth Observation Satellite. Photo by Setrec Eye

Satrec's Technical Expertise + Hanwha's Financial Strength Support
Kim Dong-kwan's 'Hanwha Space Hub'
Acts as a Comprehensive Situation Room to Assist Strategy

Since receiving equity investment from Hanwha earlier this year, the company has been creating synergies across research and development and business strategy. This super-high-resolution Earth observation satellite project is also the first strategic project jointly promoted by Hanwha and Satrec Initiative, drawing attention.

The space business is considered a future growth engine at the Hanwha Group level by President Kim. He has publicly committed to large-scale investments. As the space industry is being reshaped around global big tech companies like Blue Origin and SpaceX, he believes that surpassing advanced overseas companies requires even greater investment.

President Kim also established the 'Hanwha Space Hub,' gathering engineers from Hanwha Aerospace, Hanwha Systems, and other group affiliates related to space business. This serves as a kind of on-site comprehensive situation room and actively supports Satrec Initiative in formulating business strategies. To help expand Satrec Initiative's overseas network, which has a high export ratio, Kim joined Satrec Initiative as an unpaid registered director in February. Although it may be difficult to achieve results in the short term given the nascent nature of the space business, President Kim has always emphasized the social responsibility involved, as someone must undertake the space business.

This content was produced with the assistance of AI translation services.