Samsung ventures into space: from chips to spaceports
South Korean conglomerate Samsung Group is actively entering the space industry. In addition to testing its new semiconductors in low Earth orbit as part of NASA's Artemis II mission, its subsidiary, Samsung C&T Corp., is working towards establishing a "space factory" complete with a rocket launch complex. To this end, Samsung is engaged in negotiations with Seoul National University, underscoring the seriousness of its intentions. This move is driven by the fact that the space infrastructure market, including launch sites, is considered a new growth driver for South Korea, which can leverage its expertise in semiconductor manufacturing and nuclear power.
The global space market is experiencing rapid growth and is projected to reach $1 trillion in the coming decade. The market for space launch services has been increasing annually by 10% since 2019. South Korea aims to become a leader in this sector, focusing on the development of launch infrastructure and the production of space components. It is competing with other nations such as Taiwan, the United Kingdom, Sweden, and Norway, which are also constructing their own launch sites.
Despite the competition, experts believe that South Korea possesses an advantage in the construction of launch facilities due to its experience in erecting complex structures. Samsung Venture Investment Co. has already invested in Silicon Valley startup Loft Orbital, whose clients include Microsoft, NASA, and the European Space Agency. This demonstrates Samsung's comprehensive approach to space exploration, investing in both infrastructure and innovative space technologies. All of this confirms Samsung's aspiration to become a key player in the rapidly evolving global space industry.
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