The UAE Space Agency and INNOSPACE, a South Korean private spaceflight startup launching small satellite launch vehicles, signed a memorandum of understanding (MoU) to strengthen cooperation in space commercialization.

The signing ceremony was held in Seoul on May 31 during the UAE Space Agency’s visit to Korea, and the MoU was signed by Soojong Kim, CEO of INNOSPACE, and His Excellency Ibrahim Al Qasim, Deputy Director General of UAE Space Agency.

With the signing of this MOU, the UAE Space Agency establishes a collaboration with INNOSPACE, facilitating ongoing mutual cooperation in the development of the space business and the realisation of the space economy.

INNOSPACE visited the UAE Space Agency from March 4th to 8th to discuss mutual space cooperation and conduct an on-site inspection of potential launch sites in the UAE. Starting with the signing of the MOU today, the UAE Space Agency and INNOSPACE aim to finalize the selection of the optimal launch site in the near future and commence the construction of a launch site. The facility will be equipped with necessary infrastructure for satellite launches, including a launch pad, launcher assembly facility, and a control center.

“We are pleased to receive recognition from the UAE Space Agency for our space technology and capabilities in overseas launch operations. This recognition comes after the successful launch of the ‘HANBIT-TLV’, at the Alcantara Space Center in Brazil in March 2023,” said Soojong Kim, CEO of INNOSPACE.

“With the signing of this MoU, INNOSPACE is dedicated to making a significant contribution to the implementation of the UAE’s space commercialization plan. Furthermore, we anticipate that this opportunity will not only establish a foundation for our future entry into the launch service business in the Middle East but also contribute to securing demand for satellite launches,” added Kim.

The UAE Space Agency delegation, led by HE Ibrahim Al Qasim, visited INNOSPACE in South Korea from January 31 to February 2. During their three-day visit, they toured all INNOSPACE facilities, including the paraffin-based solid fuel manufacturing plant in Sejong, the launcher assembly facility in Cheongju, and the rocket engine hot-fire test facility in Geumsan. The visit offered an opportunity for valuable discussions about new collaboration possibilities and future challenges.