Yoon: "Gyeongnam, Jeonnam, Daejeon Space Industry Clusters... Leap to Space Power" (Comprehensive Report 2)

President Yoon Suk-yeol delivers a congratulatory speech at the "Republic of Korea Space Industry Cluster Launch Ceremony" held on the 13th at Korea Aerospace Industries (KAI) in Sacheon, Gyeongnam.
[Image source=Yonhap News]

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"Following the Miracle on the Han River and the Miracle of Semiconductors, South Korea's third miracle will be the miracle of space."

President Yoon Suk-yeol stated on the 13th, "We will establish a space industry cluster triangular system with Gyeongnam, Jeonnam, and Daejeon," and added, "By 2027, we will expand the space development budget to over 1.5 trillion won to leap into the top five space powers." The goal is to attract 100 trillion won in private investment by 2045 and create more than 250,000 jobs.

At the 'Launch of the Republic of Korea Space Industry Cluster' event held at Korea Aerospace Industries (KAI) 1st Helicopter Building in Sacheon, Gyeongnam, President Yoon emphasized, "The era when space technology was confined to security competition is over," and stated, "The space industry is a future growth engine that enhances the competitiveness of existing industries and creates new industries."

President Yoon predicted, "In the near future, space powers leading the space economy will lead the world," and "Solutions to humanity's pressing problems will also be found in space." He explained that the space industry is a convergence of cutting-edge science and technology, opening new markets utilizing space in various fields such as satellite manufacturing, space communication, launch vehicles, space resources, space tourism, and space solar power.

President Yoon emphasized, "By 2040, the size of the space economy is expected to reach $2.7 trillion (approximately 3,363 trillion won)," and added, "South Korea must also vigorously challenge the infinite opportunities and enormous market that space offers."

Sacheon, visited by President Yoon that day, is the planned site for the establishment of the Space Aviation Agency in the first half of this year and is also where KAI's headquarters is located. This was President Yoon's second visit to Sacheon since November 2022, reinforcing his commitment to fostering the space industry.

President Yoon declared, "Today, South Korea embarks on a great journey toward becoming one of the top five space powers," and stressed, "By 2032, our exploration spacecraft will land on the moon, and by 2045, we will take a big step into the future by planting the Taegeukgi on Mars."

President Yoon Suk-yeol delivers a congratulatory speech at the "Republic of Korea Space Industry Cluster Launch Ceremony" held on the 13th at Korea Aerospace Industries (KAI) in Sacheon, Gyeongnam.
[Image source=Yonhap News]

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In particular, President Yoon promised strong government support for the success of the space industry cluster centered on Gyeongnam, Jeonnam, and Daejeon. He expressed expectations that, following the Miracle on the Han River and the Miracle of Semiconductors, the third miracle will be the miracle of space, stating, "The space industry cluster will become a base camp for space navigation where young people and companies can freely challenge themselves and realize their dreams."

First, by nurturing the space industry cluster connecting Daejeon-Gyeongnam-Jeonnam, the plan is to create a 100 trillion won space industry by 2045, foster 100 space companies, and train 30,000 specialized personnel. The clusters, each with different roles?launch vehicles (Jeonnam), satellites (Gyeongnam), and research and talent (Daejeon)?will be linked, and centered on the Space Aviation Agency scheduled to open on May 27, regional and private space industries will be fostered, encouraging corporate investment and related workforce development.

President Yoon continued, "We will more than double the government and private matching space fund established last year to fully support startups so they can grow into global companies." The government also plans to pursue exemption from preliminary feasibility studies to newly establish the National Space Launch Vehicle Industrial Complex in Goheung, Jeonnam, by 2030. Three hub centers performing core functions such as company support for the three clusters (Gyeongnam, Jeonnam, Daejeon) and cooperation systems between the government and local governments will also be actively established. President Yoon said, "We will complete the Gyeongnam National Aerospace Industrial Complex by the end of this year," and "We will establish the Daejeon Space Technology Innovation Talent Training Center by the end of 2028."

An alternative to foster Korea's own 'SpaceX' was also presented. The government aims to produce 10 world-class aerospace companies by 2045 and plans to expand the space fund to 100 billion won by 2027. About 20-30% of the total fund investment commitments will be focused on promising cluster resident companies.

President Yoon Suk-yeol is inspecting the Orbital Environment Test Room during his visit to the Korea Aerospace Industries (KAI) Space Center in Sacheon, Gyeongnam on the 13th.
[Image source=Yonhap News]

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President Yoon emphasized, "We will raise South Korea's current 1% share of the global space industry market to over 10% by 2045 and create more than 250,000 quality jobs," and added, "With bold support and efficient investment, we will surely fulfill our promise to the people for the space era."

A tentative 'Tri-Star Project' will also be promoted to strengthen connections between clusters and generate synergy effects. The Tri-Star Project is a research and development (R&D) project that performs the entire satellite development cycle, from manufacturing to launch, within the cluster. Various institutional foundations will be established to expand the space industry cluster base. A special law containing the basis for a five-year basic plan for systematic development of the space industry cluster, permit agendas, and financial support will be enacted. Support such as the formation and operation of a public-private joint development committee and regulatory improvements will also be implemented.

President Yoon added, "Despite South Korea's short space development history of about 30 years, we have entered the world's top seven space powers with our own lunar exploration spacecraft and space launch vehicles," and stated, "As the President of South Korea and the Chairperson of the National Space Committee overseeing space development, I will firmly support the space industry."

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