SEJONG, South Korea (October 15, 2024) – INNOSPACE (KS: 462350), a South Korean commercial satellite launch vehicle company, announced its participation in the 75th International Astronautical Congress (IAC), held in Milan, Italy, from October 14 to 18. The company aims to identify new satellite launch service demands in the global space market, expand its customer network, and strengthen its order-based activities.

The IAC is the world’s largest space industry conference, held annually by the International Astronautical Federation (IAF). It serves as a platform for sharing the latest technological trends and research results, as well as exploring collaboration opportunities. This year’s event brings together more than 150 space-related organizations and companies from 96 countries, including NASA (USA), South Korea, Europe, Brazil, and the UAE.

At this year’s IAC, INNOSPACE has set up its own exhibition booth to showcase its flagship product, the HANBIT family of space launch vehicles. HANBIT is recognized as an innovative launcher, combining both cost-effectiveness and safety through hybrid rocket technology. It features a 25-ton thrust hybrid engine in the first stage, using solid fuel and liquid oxidizer, which ensures structural simplicity and cost efficiency. The upper stage is powered by a 3-ton thrust methane engine, enabling multi-mission capabilities. These technological features provide flexible launch solutions, allowing satellites to be deployed into various orbits accurately and efficiently. This enhances INNOSPACE’s competitiveness by enabling swift responses to customer needs.

During the exhibition, INNOSPACE has scheduled business meetings with over 60 satellite companies and partner institutions from around the world. The company aims to explore potential satellite launch service agreements and business partnerships in these discussions. In additon, INNOSPACE will actively promote its commercial launch plans using the HANBIT family to potential new customers. The company is targeting commercial launches of the HANBIT-Nano (payload capacity of 90kg) in the first half of 2025, the HANBIT-Micro (payload capacity of 170kg) in the second half of 2025, and the HANBIT-Mini (payload capacity of 1,300kg), which will feature a cluster of nine 25-ton hybrid engines in the first stage, in the second half of 2026.

“Participating in this year’s IAC exhibition is a meaningful opportunity to showcase INNOSPACE’s technological innovations and launch service competitiveness to global space experts and potential customers. We are committed to continuous technological development and launch service innovation to help customers access space more easily and quickly. Moving forward, we will create more opportunities for collaboration in the global market and strengthen our position in the commercial launch sector,” said Soojong Kim, CEO and founder of INNOSPACE.

▲ CEO Soojong Kim of INNOSPACE greeting Guido Parissenti, CEO of Apogeo Space, an Italian customer, at our IAC 2024 exhibition booth.