Goheung-gun Signs Agreement for 11 Space Industry Companies to Enter National Industrial Complex

Goheung Space Launch Vehicle National Industrial Complex Exempt from Preliminary Feasibility Study

Space Industry Cluster Establishment, 1.6 Trillion KRW

Gohung-gun, Jeollanam-do (Governor Gong Young-min) announced on the 26th that it signed an agreement for the entry of 11 space industry companies into the national space launch vehicle industrial complex at the Seoul Station Grand Conference Room.

The signing ceremony was attended by Park Sang-woo, Minister of Land, Infrastructure and Transport; Kim Young-rok, Governor of Jeollanam-do; Lee Han-jun, President of LH; and representatives from eight companies*, including Hanwha Aerospace, totaling about 50 people.

[Photo by Goheung-gun]

This agreement ceremony follows the announcement on February 14 at the Emergency Economic Ministers' Meeting regarding the ‘Exemption from Preliminary Feasibility Study for Gohung National Industrial Complex’ and the presidential directive at the 20th Public Discussion on March 14 to ‘actively promote the exemption from preliminary feasibility study for Gohung National Industrial Complex.’ It aims to confirm corporate demand and accelerate the exemption process for the national industrial complex.

In particular, Hanwha Aerospace, which signed the agreement, was recently selected as the preferred negotiator for the next-generation launch vehicle development project and plans to build manufacturing facilities for core launch vehicle components within the national industrial complex.

Additionally, startups such as Innospace will engage in the manufacturing and R&D of small launch vehicles, and Bitsro Nextech will develop launch vehicle engines. The 11 companies moving into the national industrial complex are expected to play a significant role in establishing the launch vehicle industry ecosystem.

Through this, the new Gohung national industrial complex is expected to serve as one pillar of the ‘space industry cluster triangular system’ as a launch vehicle special zone, becoming a hub for the space launch vehicle industry to help South Korea emerge as a space economy powerhouse.

Park Sang-woo, Minister of Land, Infrastructure and Transport, who attended the event, stated, “The Gohung and Uljin national industrial complexes are the first preliminary feasibility study-exempt complexes promoted in local regions among the 15 new national industrial complexes and are expected to become key industrial hubs leading the national economy and regional balanced development.”

Furthermore, Gong Young-min, Governor of Gohung-gun, said, “With the exemption from the preliminary feasibility study for the Gohung space launch vehicle national industrial complex, the early establishment of the national industrial complex and the construction of core space launch vehicle infrastructure such as private launch sites will also accelerate,” adding, “Gohung-gun will firmly establish itself as the forward base of the space industry.”

He also expressed a strong commitment to attracting companies, stating, “Gohung-gun will create incentives for companies to settle by improving living conditions for resident companies and preparing bold support measures to generate synergy effects through private-led launch vehicle industry development and corporate agglomeration.”

Meanwhile, the Gohung space launch vehicle industry cluster plans to invest 1.6 trillion KRW by 2031. Among them, the core project, the national industrial complex, will be developed on a 520,000-pyeong scale in Yenae-ri, Bongrae-myeon, Gohung-gun by 2030. Gohung-gun is concentrating all administrative efforts, including securing corporate demand, to expedite the exemption from the preliminary feasibility study.

Gohung = Asia Economy Honam Reporting Headquarters, Reporter Shim Jeong-woo hss79@asiae.co.kr

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