Korea's Kolon Group takes first step successfully in space launch vehicle biz

South Korea's Kolon Group announced on Wednesday that Kolon DACC Composite participated in the launch of the first private test launch vehicle in Korea, 'Hanbit-TLV', as  a major component supplier.

Kolon Glotech also participated as a strategic investor in Innospace, a space launch vehicle startup, and Kolon Investment as a financial investor, according to Kolon Corporation.

The test launch vehicle utilized various major parts produced with Kolon DACC Composite's ultra-lightweight, high-heat-resistant composite material development technology. Key components were applied to the propulsion system that supplies thrust, enabling the launch vehicle to be safely placed in orbit.

High-performance composite material parts were used for the pressurized tank that stores high-pressure helium and nitrogen gases, the composite combustion chamber that stores hybrid propellants and handles high-temperature and high-pressure combustion processes, and the composite nozzle assembly that converts the combustion gas discharged at ultra-high temperature and ultra-high pressure into kinetic energy to generate thrust.

Additionally, the nose cone fairing, a high-strength structure that safely protects the payload, such as a satellite, mounted on the upper part of the launch vehicle, was produced and installed by Kolon DACC Composite.

Kolon not only supplied launch vehicle parts but also invested in InnoSpace. Kolon Investment first invested 1 billion won ($760,000) in 2019 and added 1 billion won the following year. In 2021, Kolon Glotech invested 6 billion won and Kolon Investment added 2.8 billion won, increasing the total amount invested by Kolon Group affiliates in InnoSpace to 10.8 billion won. This accounts for 17.7% of Innospace’s total stake and is the largest stake among external investors.

Write to Seo-Woo Jang at suwu@hankyung.com