Boryung invests $10 million in Intuitive Machines

South Korea's Boryung Corp. said on Friday it bought $10.0 million in shares of US-based lunar lander company Intuitive Machines to expand its space healthcare business.

The company participated in Intuitive Machines' public rights issue offering of $65.0 million worth of shares. It secured 952,381 Class A common stocks of Intuitive Machines.

Intuitive Machines supplies space products and services to support sustained robotic and human exploration of the Moon, Mars and other planets. The company's four business units offer products and services such as lunar access, orbital, lunar data, space products and infrastructure.

Intuitive Machines has successfully fielded its IM-1 mission Nova-C class lunar lander Odysseus launched on SpaceX’s Falcon 9 rocket and landed on the south pole region of the moon.

In December 2023, Boryung formed a strategic partnership with Intuitive Machines to build infrastructure for life science research on the moon.

In October, the two companies announced that they plan to jointly develop a space medicine experiment platform using the lunar rover built for the US manned lunar exploration project Artemis.

Write to Kyung-Ju Kang at qurasoha@hankyung.com