Yoon Youngbin: "Hanwha Aerospace to Independently Launch and Operate Space Launch Vehicles from 2028"

Serving as a 'Tailored Catalyst' to Achieve a 10% Share of the Global Aerospace Market
Rapid U.S. Push for Mars Exploration Could Be an Opportunity for Korea, Task Force Being Prepared

Yoon Youngbin, Administrator of the Space Administration, stated, "Hanwha Aerospace will be able to independently launch and operate space launch vehicles starting in 2028."

At a press briefing marking the first anniversary of the Space Administration's opening, held at the Space Administration's headquarters in Sacheon, Gyeongnam on the 21st, Yoon said, "The technology transfer fee and scope for the Nuriho rocket have been finalized. Through the 4th, 5th, and 6th launches of Nuriho, the technology transfer to Hanwha Aerospace will be completed. After the 6th launch is finished in 2027, Hanwha Aerospace will have independent capabilities."

Yoon Youngbin, Administrator of the Space Administration, is answering questions at the press briefing on the first anniversary of the Space Administration's opening on the 21st. Photo by Space Administration

He emphasized that the Space Administration will serve as a tailored catalyst to achieve the goal set at its founding?securing a 10% share of the global aerospace market by 2045.

Currently, in the global aerospace industry, the upstream market, which involves the production of satellites and launch vehicles, accounts for more than 10%, while the downstream market, which includes the production of ground equipment and related services, exceeds 80%. In contrast, the Korean market is characterized by a distorted structure, with the government-led upstream market making up more than 30% and the downstream market accounting for less than 10%.

Yoon stated, "Going forward, we will focus more on investments in the downstream sector rather than upstream, supporting private companies so they can achieve international competitiveness." He added, "We will play the most efficient and tailored catalyst role by pursuing technology transfers and growth plans appropriate to each company's level."

Although Korea proclaims itself as one of the 'world's top seven space powers,' the reality is that the gap with leading countries such as the United States, China, Russia, the European Union, Japan, and India remains enormous. Therefore, Korea must learn technology through international cooperation with these countries, while also creating opportunities to export Korean technology to emerging space nations such as Saudi Arabia, Uzbekistan, and the Czech Republic.

Yoon said, "We will ensure that private companies can participate in intergovernmental exchanges, enabling direct exchanges between companies." He continued, "We will accommodate the demands of emerging countries like Saudi Arabia as much as possible to provide opportunities for Korean private companies to enter these markets."

He also noted that the situation in the United States, where there are plans to cut the science budget by about 25%, could become an opportunity for Korea. Yoon stated, "This year's budget increased by 27% from the previous year to 965 billion won, and next year's budget is expected to be about 1.02 trillion won. However, this is still far short of major countries. I hope it will increase further."

He further explained, "The atmosphere in the United States is rapidly shifting toward Mars exploration. As international cooperation could expedite the opportunity to go to Mars, we are internally forming a task force for Mars cooperation with the United States. This task force aims to develop an exploration plan that is both economically viable and uniquely Korean."

During its first year since opening, the Space Administration secured a total of 281 personnel by providing official residences for all employees and promoting the construction of a new headquarters to be completed by 2030. More than half of these are professionals from industry, academia, and research backgrounds.

Additionally, the Space Administration achieved several milestones, including international cooperation and joint research with major countries such as the United States, revitalizing the operation of the National Space Council, establishing Space and Aviation Day (May 27), innovating the R&D ecosystem of affiliated research institutes such as the Korea Aerospace Research Institute, establishing a national satellite operation system, and formulating strategies for future space and aviation missions.

Yoon said, "If our goal is to reach the summit of Mount Everest, I am working with a sense of fulfillment, as if we are building the highest and safest base camp." He added, "We will implement policies that meet the public's expectations and design a desirable future for Korea's space and aviation sector."

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