KoreaTechToday - Korea's Leading Tech and Startup Media Platform
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
  • Lists
KoreaTechToday - Korea's Leading Tech and Startup Media Platform
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
  • Lists
KoreaTechToday - Korea's Leading Tech and Startup Media Platform
No Result
View All Result
Home KAI

KAI’s $2bn worth investment is its next big project to enter the global space industry

KoreaTechToday Editor by KoreaTechToday Editor
PUBLISHED: October 29, 2021 UPDATED: October 29, 2021
in KAI, South Korea, Space program
0
KAI’s $2bn worth investment is its next big project to enter the global space industry

The South Korean jet maker KAI has declared its plans to expand the company’s operations with an investment of $1.87 billion in the space industry. The aircraft manufacturer aims to tie up with South Asian and Middle East nations who require support to send satellites into space and handle telecom operations. 

The President and CEO of Kai, Ahn Hyun-ho, spoke to the media on Wednesday, where he said, “In addition to focusing on private-sector demand, we’ll move forward with our outbound expansion to Southeast Asia.”

Despite the recent failed “Nuri” project by South Korea, the country will continue to invest in research and development in the space industry for further developments. Korea aims to bounce back with its second rocket being launched in May next year. 

According to reports, the rocket launch services sector in the space industry is likely to grow by $47.6 billion in the coming decade. It was 9.5 billion strong in 2019. KAI has been working on various projects to build a stronger international presence in the space industry. Although the company has invested in new projects, it has to make constant diligent efforts to compete with global tech giants. 

In July, KAI partnered with SpaceX to jointly launch a satellite. Owned and managed by automobile industrialist Elon Musk, SpaceX is working on the Next-Gen No.4 Satellite Projectile with the Korean manufacturer. 

Two days ago, KAI had a successful demonstration of a virtual test flight in Seoul. The company unveiled KF-21, an unmanned complex system that is based on helicopters. This MUM-T is expected to enhance mission performance and futuristic training through Metaverse. 

Besides, the company additionally plans to get into the flying taxis market in the coming months.  

“We already have the technology for vertical takeoff and landing, and plans to collaborate with other companies are in progress,” Ahn stated while speaking of the company’s upcoming collaborative projects.

Presently, the company’s primary source of business revenue comes from domestically developed rockets, and it is expected to grow regardless of other space investments. However, the growth of new projects is estimated to increase its overall sales, making it 3.5 times higher than the last decade. 

Professor at Chungnam National University in Daejeon Huh Hwan-il said in an interview, “South Korea is at a stage where it is finally building a foundation for space development.” 

The U.S. and other European counterparts of South Korea have launched around a hundred rockets until now. In contrast, the South Korean space industry is still at the foundational level to begin with. However, with Korea’s aggressive growth strategies and research projects, the country may enter international competition in the coming decades. 

Tags: South Korea newsspace industry

Related Posts

South Korea, BlackRock Team Up to Build Hyperscale AI Data Center Hub
Data Center

South Korea, BlackRock Team Up to Build Hyperscale AI Data Center Hub

October 1, 2025
Global API Standardization Gets a Push with SK Telecom–Aduna Partnership
AI

Global API Standardization Gets a Push with SK Telecom–Aduna Partnership

September 23, 2025
$12B Crypto Wave: How Young Koreans Are Shaping Global Markets
Cryptocurrency

$12B Crypto Wave: How Young Koreans Are Shaping Global Markets

September 1, 2025
Caught Between Giants: How U.S. Export Controls Reshape South Korea’s Semiconductor Strategy
Samsung

Caught Between Giants: How U.S. Export Controls Reshape South Korea’s Semiconductor Strategy

September 1, 2025
Samsung and SK Hynix Face New U.S. Licensing Rules for Chinese Chip Plants
China

Samsung and SK Hynix Face New U.S. Licensing Rules for Chinese Chip Plants

August 31, 2025
South Korea Eyes Global AI Leadership with Record 8.1% Budget Hike
AI

South Korea Eyes Global AI Leadership with Record 8.1% Budget Hike

August 30, 2025
No Result
View All Result

Most Popular

  • Ride-Hailing Rivalry: Kakao and Uber Bet on Membership Services in Korea

    0 shares
    Share 0 Tweet 0
  • Kakao Mobility Faces $10.5 Million Fine for Limiting Competitors’ Access to Taxi Platform

    0 shares
    Share 0 Tweet 0
  • Korea’s Navigation Battle Heats Up: Naver and Kakao vs. Google maps

    0 shares
    Share 0 Tweet 0
  • 5 Best Korean to English Translation Apps

    0 shares
    Share 0 Tweet 0
  • Naver Launches 3D Street View for Immersive Navigation Experience

    0 shares
    Share 0 Tweet 0
  • Naver Maps Launches Guide in English, Chinese, and Japanese to Enhance Travel Experience for Tourists

    0 shares
    Share 0 Tweet 0
  • KakaoTalk to Adopt Instagram-Style Feed in Major 2025 Redesign

    0 shares
    Share 0 Tweet 0
  • Naver Unveils Asia’s Largest Data Center, GAK Sejong, for Tech Innovation

    0 shares
    Share 0 Tweet 0
  • Top Nine Mobile MMORPG in South Korea for 2020

    0 shares
    Share 0 Tweet 0
  • LG’s Return to Smartphones: A New AI Collaboration with Samsung

    0 shares
    Share 0 Tweet 0

PRODUCTS

[ads_amazon]

TOPICS

  • Naver
  • Kakao
  • Nexon
  • Netmarble
  • NCsoft
  • Samsung
  • Hyundai

FREE NEWSLETTER

FOLLOW US

  • About Us
  • Cookie policy
  • home
  • homepage
  • mainhome
  • Our Services
  • Privacy Policy
  • Terms of Use

Copyright © 2024 KoreaTechToday | About Us | Terms of Use |Privacy Policy |Cookie Policy| Contact : [email protected] |

No Result
View All Result
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
  • Lists

Copyright © 2024 KoreaTechToday | About Us | Terms of Use |Privacy Policy |Cookie Policy| Contact : [email protected] |