Nam Hyun-woo has worked as a staff writer at The Korea Times since 2013, mostly covering business and politics. He currently belongs to the Business Desk where he covers topics such as emerging tech, AI, ICT and Korea's chaebol community. Prior to joining the team, he was the paper's correspondent for the presidential office of Korea during the Yoon Suk Yeol and Moon Jae-in administrations.
Hanwha chairman renews commitment to space business
Hanwha Group Chairman Kim Seung-youn, center, Vice Chairman Kim Dong-kwan, left, look into Hanwha's Very Low Earth Orbit Ultra High Resolution Synthetic Aperture Radar Satellite at Hanwha Systems' Jeju Space Center, Thursday. Courtesy of Hanwha Group
By Nam Hyun-woo
Hanwha Group Chairman Kim Seung-youn visited Hanwha Systems’ space center on Jeju Island Thursday, renewing the conglomerate’s commitment to its space business.
During the visit, Kim expressed gratitude to employees for their efforts for the successful fourth launch of the Nuri rocket. “Following this success, Hanwha will consolidate its status as the leader of Korea’s private space industry by developing a lunar orbiter and the propulsion system for a lunar lander," Kim said.
Hanwha Aerospace has billed itself as a private space company by overseeing the manufacturing and assembly process of the Nuri rocket used for the fourth launch in November last year. It also signed an agreement with the Korea Aerospace Research Institute on Dec. 29, 2025, to develop the propulsion system for a lunar lander scheduled to be launched in 2032.
“Overcoming challenges to have our satellites monitor climate change on Earth, safeguard national security and contribute to a better life for humanity is the true business value that Hanwha pursues,” Kim said.
Kim toured the Hanwha Systems’ Jeju Space Center along with his son, Vice Chairman Kim Dong-kwan.
Hanwha Group Chairman Kim Seung-youn, left, listens to an explanation of a space environment test facility at Hanwha Systems' Jeju Space Center, Thursday. Courtesy of Hanwha Group
Occupying 30,000 square meters of land on the island, the space center was completed last month as Korea’s largest private satellite manufacturing facility.
At the center, Hanwha Systems can manufacture up to eight satellites a month, or close to 100 a year. Starting this year, the facility will move into full-scale mass production of satellites, including Synthetic Aperture Radar satellites used for Earth observation. Hanwha Systems invested 100 billion won ($69 million) in the facility.