CHUNGCHEONGBUK-DO < invest Korea

According to Yonhap News,

A company that manufactures small space launch vehicles will move into Okcheon-gun, Chungcheongbuk-do.

Okcheon-gun said on December 7 that Perigee Aerospace, a startup in the aerospace industry, is to invest KRW 13 billion in the region.

Based in Daejeon, it will build a production base on a site of 12,542 square meters in Odong-ri, Gunseo-myeon, with the goal of construction completion in April next year.

It has been developing a small space launch vehicle in cooperation with the Korea Advanced Institute of Science and Technology (KAIST). Its main products are body parts of rockets for carrying spacecrafts.

Its CEO said, "We have reviewed a number of sites to secure the main rocket production base, and decided to move into Okcheon-gun that promised active support".

It is expected to create about 100 jobs.

Okcheon-gun will sign the investment agreement with Perigee Aerospace on December 10.

ks@yna.co.kr

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Source: Yonhap News (December 7, 2021)