According to Pulse by Maeil Business News Korea,

South Korean defense company Hanwha Aerospace Co., the manufacturer behind the indigenous launch vehicle Nuri, has launched construction of the country’s largest civilian launch vehicle stage assembly facility.

The groundbreaking ceremony for the Space Hub Launch Vehicle Production Center took place on Thursday at the Yulchon Industrial Complex in Suncheon, South Jeolla Province, the company said.

The ceremony saw the attendance of about 150 government officials, local authorities, and industry representatives, including Hanwha Aerospace Chief Executive Officer Son Jae-il and South Jeolla Province Governor Kim Yung-rok.

During the ceremony, CEO Son expressed the company’s commitment to continuous challenges, saying, “We will open the era of the civilian space economy through relentless challenges to take a leap forward as a space powerhouse.”

Hanwha Aerospace is investing about 50 billion won ($37.8 million) to construct a 60,000-square-meter assembly facility by 2025. The facility will be dedicated to the production of the Nuri-5 and subsequent launch vehicles scheduled for launch in 2026.

Hanwha Aerospace plans to establish a space launch ecosystem by collaborating with around 300 companies and research and development institutions focused on the Nuri project.

In 2022, Hanwha Aerospace was selected as the manufacturing company for Korea’s indigenous launch vehicle by the Korea Aerospace Research Institute (KARI).

By Choi Hyun-jae and Minu Kim

Copyrights Pulse by Maeil Business News Korea. All Rights Reserved.

Source: Pulse by Maeil Business News Korea (February 16, 2024)