San-eun Expands Investment in Next-Generation Startups Including Space Industry

Leading the Goal of Building a New Space Value Chain

[Asia Economy Reporter Jin-ho Kim] Korea Development Bank announced on the 13th that it will strengthen investments in startups in the space industry and Environmental, Social, and Governance (ESG) sectors, which will lead the future in this era of industrial change.

KDB noted that the space industry paradigm is shifting from government-led to private sector-centered "New Space." The changes are accelerating with the emergence of reusable rockets, microsatellites, and advancements in data technology. According to Morgan Stanley, the global space industry market size is expected to grow from $350 billion last year to over $1 trillion by 2040.

Korea is also showing technological achievements, such as preparing to launch the independently developed "Nuriho," the world's seventh, by the end of this month. Additionally, satellite, launch vehicle, and low Earth orbit communication satellite industries are emerging, centered around startups.

Accordingly, KDB has decided to strengthen investments in promising startups to support Korea's leap to a space powerhouse. Perigee Aerospace, a startup founded by KAIST students in which KDB invested, is developing microscale launch vehicles and plans to conduct a test launch of a space launch vehicle next year. KDB also invested in SIA, an AI-based satellite image data analysis company, and Contec, a satellite data reception (ground station) service company.

Furthermore, as ESG has emerged as a core keyword in the economy and society, KDB is accelerating efforts to nurture startups that will lead carbon neutrality realization and sustainable economic structures.

KDB made a sole investment in Injin, a wave power generation company struggling due to COVID-19. Based on KDB's investment attraction, Injin achieved overseas business results such as signing a wave power installation contract with the Canadian government and being selected as a candidate company for the GCF (Green Climate Fund) sponsored 'Support Program for Overseas Expansion of Climate Technology Holding Companies.' KDB also discovered Testworks, an AI data analysis company carrying out a social mission of employing women with career interruptions and people with disabilities.

A KDB official stated, "We will continue bold support for startups pioneering future industries, including the space industry," and added, "We will also continuously expand investments in the ESG sector for the great transition to a low-carbon economy and sustainable growth."

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