Hanwha Aerospace is working with the Korea Aerospace Research Institute to develop a next-generation launch vehicle (KSLV-III) that significantly improves on the performance of the Nuri (KSLV-II). Based on a public-private partnership, the company looks to strengthen its launch vehicle technology and target the global launch service market.
In December 2023, Hanwha Aerospace announced that it has been selected as a preferred partner for the launch vehicle development project announced by the Public Procurement Service in December 2023.
Hanwha Aerospace will sign the main contract after final negotiations with the Korea Aerospace Research Institute for up to 25 days. The negotiations will discuss a detailed development schedule, human resources management, safety management and security maintenance plans, and the number of partner companies. “If the contract is signed, Hanwha Aerospace will be in charge of system integration, which is the overall production of launch vehicles from design to launches,” a company official said.
The project is a key part of Korea’s space plan to develop a new launch vehicle to send key payloads in a national space development road map including a lunar lander into space. The Korean government plans to invest a total of 2.0132 trillion won between 2024 and 2032 to build a next-generation launch vehicle that will triple the performance of Korea’s current Nuri space launcher. The launch vehicle will be reduced to two stages from three to reduce variables during separation and carry five 100-ton liquid engines on the first module and two 10-ton liquid engines on the second module for large satellite launches and space exploration. Hanwha Aerospace will participate in the project worth 950.5 billion won.
The project was initially expected to be a bidding race between Hanwha Aerospace and Korea Aerospace Industries (KAI), but KAI withdrew from the first round of bidding in February and underwent a re-bidding process. In the re-bid, Hanwha Aerospace was the sole bidder and was selected to negotiate for a comprehensive launch vehicle system.
Hanwha Aerospace is considered to have engine technology accumulated over 26 years, starting with the development of the KSR-III in 1999, and the capability to manufacture medium-sized and large launch vehicles acquired through the Nuri Upgrade Project. Based on the technology and experience gained through joint participation with the Korea Aerospace Research Institute from the development stage, the company plans to lay the foundation for a privately led space industry ecosystem and enter the global launch service market.