Space industry experts view the space infrastructure market, including rocket launch pads and spacecraft components, as a new growth engine for South Korea, as the country is trying to catch up with global space leaders.“South Korea is one of the few countries capable of transferring its manufacturing strengths from semiconductors and nuclear power to offshore plants into the space industry,” said Park Hyeong-jun, a professor of aerospace engineering at Seoul National University.
Samsung Group is stepping up efforts to venture into the space infrastructure industry, a sector analysts say remains a blue ocean where South Korea could secure a first-mover advantage.Samsung C&T Corp.recently kicked off early-stage research and development on a so-called “space plant” project that includes the construction of a rocket launch facility, according to industry sources on Tuesday.
For South Korea to join the ranks of the world’s top five space powers, experts argue the country should prioritize building launch infrastructure and advancing space components and manufacturing tools, rather than pouring resources into high-cost deep space exploration or into rocket development, both of which have high technological barriers.
The story "Samsung gears up for foray into space infrastructure industry" has 632 words across 26 sentences, which will take approximately 3 - 6 minutes for the average person to read.
Which news outlet covered this story?
The story "Samsung gears up for foray into space infrastructure industry" was covered 6 hours ago by Korea Economic Daily, a news publisher based in South Korea.
How trustworthy is 'Korea Economic Daily' news outlet?
Korea Economic Daily is a fully independent (privately-owned) news outlet established in 1964 that covers mostly economy news.
The outlet is headquartered in South Korea and publishes an average of 8 news stories per day.
It's most recent story was published 8 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
