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South Korea and India Forge Space Alliance to Boost Global Space Economy

Space authorities from South Korea and India co-hosted a joint industry event in Bengaluru to expand bilateral cooperation and explore business opportunities in the sector. The event, involving presentations from nine companies from each country, was part of follow-up measures to a memorandum of understanding signed last year. South Korea's KASA head highlighted India as a key partner following its historic lunar south pole landing, with both nations aiming to build a leading partnership in the global space economy. The event also spotlighted India's booming space startup ecosystem, which now includes over 400 companies and has attracted more than $500 million in investment.

Key Points: Korea-India Space Cooperation Expands with Joint Industry Event

  • Joint Korea-India Space Day held in Bengaluru
  • Follow-up to 2023 MoU between KASA and ISRO
  • 9 firms from each nation presented capabilities
  • Aim to build leading global space economy partnership
  • India's space startups exceed 400 with over $500M investment
2 min read

S. Korean, Indian space authorities to explore bilateral cooperation, business opportunities

South Korea's KASA and India's IN-SPACe host joint space day to explore business opportunities and strengthen bilateral partnership in the global space sector.

"India... is an important partner for us. - Oh Tae-seog, head of KASA"

Bengaluru, April 20

Space authorities of South Korea and India held a joint industry event on Monday to expand cooperation and explore space-related business opportunities between the countries, Seoul's space agency said.

The Korea AeroSpace Administration (KASA) said it co-hosted the Korea-India Space Day event with IN-SPACe, India's space industry promotion and regulatory agency, in Bengaluru.

The event was arranged as part of follow-up measures to a memorandum of understanding signed last year between KASA and the Indian Space Research Organization, and on the occasion of South Korean President Lee Jae Myung's visit to India for a summit with Prime Minister Narendra Modi, reports Yonhap news agency.

At the event, nine South Korean firms, including Korea Aerospace Industries Ltd. and Innospace, delivered keynote presentations on their core capabilities, alongside nine Indian companies.

"India, which successfully achieved the world's first landing near the moon's south pole, is an important partner for us," said Oh Tae-seog, head of KASA, adding that the two countries plan to strengthen cooperation to build a leading partnership in the global space economy.

Meanwhile, the number of space startups have reached more than 400 in India, while the investment in such startups crossed more than $500 million.

The establishment of Earth Observation (EO) satellite constellation on PPP model will spur innovation and improve global confidence of our Indian space tech companies. Twenty-five companies are already testing their satellites/subsystems in the real environment of space by taking advantage of platforms like 'POEM'.

State governments are seeing space as a sunrise sector and making proactive policies to encourage companies in this domain through incentive schemes. Moreover, Indian space companies are slowly beginning to embed in global aerospace and space supply chains.

Prominent space startups grown in the country after 2014 are Pixxel, Dhruva, Skyroot Aerospace, Agnikul Cosmos and Bellatrix Aerospace, etc.

'Startup India' was launched on January 16, 2016 by Prime Minister Narendra Modi as a transformative national programme to nurture innovation, promote entrepreneurship and enable investment-driven growth, with the objective of making India a nation of job creators rather than job seekers.

- IANS

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Reader Comments

P
Priya S
Great step forward. South Korea has advanced manufacturing and electronics, while we have strong launch capabilities and low-cost engineering talent. Perfect synergy. Hope this leads to more jobs in the space sector here.
R
Rohit P
While the collaboration is good, I hope our agencies ensure that the IP and core technology development remains strong on the Indian side. We shouldn't just become an assembly hub. The focus must be on 'Make in India' for the world.
S
Sarah B
Interesting development. The global space economy is the next frontier. With over 400 startups, India's ecosystem is buzzing. The PPP model for EO satellites mentioned could be a game-changer for agriculture and disaster management.
V
Vikram M
Bengaluru is truly becoming the space tech capital of India! Events like this put us on the map. Hope the state government's incentive schemes reach the smaller startups too, not just the prominent ones.
K
Karthik V
The mention of 'POEM' (PSLV Orbital Experimental Module) is key. It shows ISRO is successfully providing platforms for private companies to test in space. This infrastructure sharing is what will accelerate innovation. Jai Hind!

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