Hanwha Aerospace signs 286-billion-won contract with KARI

The Korea Space Launch Vehicle-II, or Nuri, takes off from the Naro Space Center in Goheung County, South Jeolla, on June 21. [JOINT PRESS CORP]

Hanwha Aerospace signed a 286-billion-won ($220-million) contract with the government to improve Korea’s first domestically-developed Nuri rocket, the company said Friday.

After being named the preferred bidder for the project on Oct. 7, Hanwha Aerospace finalized the deal with the Korea Aerospace Research Institute (KARI) to run the Korea Space Launch Vehicle Advancement Program.

With the signing of the deal, the state-run KARI, which has been spearheading the space launch program so far, will transfer technologies to Hanwha Aerospace through all stages of a rocket launch, from designing to launch operations.

The 687.4-billion-won Korea Space Launch Vehicle Advance Program will run through 2027 with the aim to enhance the technological reliability of the Nuri rocket.

Hanwha Aerospace will oversee the integration of the launch vehicle and manage suppliers for rocket parts through the upcoming four test launches of the Nuri rocket.

The Nuri rocket has completed two test launches so far, the first in Oct. 2021 and the second last June. Over 300 companies took part in the project.

Hanwha hopes to enter the commercial space launch market in the future.

Hanwha companies including Hanwha Aerospace have been pushing to put forward their space businesses over the past years, and set up a consultation group for space-related businesses named Hanwha Space Hub to narrow the gap with the leading space powers.

Hanwha Systems, an avionics and ICT company, is expanding its space internet service business through acquisitions and equity investments.

The company acquired Phasor Solutions in 2020, which has been renamed as Hanwha Phasor, a previously U.K.-based company that specializes in satellite communication antenna technology. Hanwha Systems made $41-million in investments in Kymeta, a U.S. satellite antenna developer, and also acquired 9 percent of OneWeb, a London-based satellite internet company, last year.

Hanwha Aerospace owns 20 percent of Satrec Initiative, Korea’s only satellite exporter, and is its largest shareholder.

The company called for active support from the government in a release Friday, pointing out that more than half of some $1 billion that SpaceX made through the first ten years into the business came from NASA projects.

“The Nuri rocket launch program is still a challenging project and we cannot be sure of success,” said a Hanwha Aerospace spokesperson, “but we will try to push Korea’s space sector up a notch by succeeding in the test launches with KARI’s capabilities accumulated so far, about 300 companies’ technologies and Hanwha’s enthusiasm toward the space businesses.”

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]