Key facts
- South Korean conglomerates plan to invest 312 trillion won ($223 billion) in AI and SMRs.
- Hanwha Group will invest 55 trillion won by 2040 in aerospace and AI.
- South Korea aims to establish a low-Earth orbit satellite communications network by 2035.
- The country intends to achieve its first lunar landing by 2030.
- The Korea AeroSpace Administration (KASA) presented its strategy for advanced industry development.
South Korean conglomerates are set to invest a combined 312 trillion won (approximately $223 billion) in artificial intelligence (AI) and small modular reactors (SMRs), with a focus on development in the country's southeastern region. This significant commitment includes Hanwha Group's pledge of 55 trillion won by 2040 towards aerospace and AI initiatives, aimed at developing launch vehicles, satellites, and AI data centers.
In parallel, the nation is advancing its space ambitions. The Korea AeroSpace Administration (KASA) announced plans to establish a low-Earth orbit satellite communications network, comprising hundreds of satellites, by 2035. This initiative is designed to bolster South Korea's domestic satellite and launch vehicle capabilities, creating a network akin to SpaceX's Starlink.
KASA also aims to accelerate the country's first lunar landing to 2030, two years ahead of the original schedule. This will involve sending a privately developed small lunar lander aboard the Nuri rocket. Further space exploration plans include launching a lunar communications orbiter in 2029 and an Earth-moon scientific probe in 2031.
KASA Administrator Oh Tae-seok emphasized the strategic importance of low-Earth orbit satellite communications networks for national security, communications sovereignty, and the future 6G era. The strategy was approved by the National Space Council, chaired by President Lee Jae Myung.