South Korea has officially entered its New Space phase. The launch of the K-Space Forum marks a national inflection point—one where policy, academia, investors, and deep-tech startups converge to build a self-sustaining space industry. As the global aerospace paradigm shifts toward private-sector innovation, Korea is building the networks, governance, and capital systems needed to compete in the expanding global space economy.

Korea Launches K-Space Forum to Build a Private-Led Space Industry

On February 11, the K-Space Forum was officially launched at the headquarters of Money Today in Seoul. The forum brings together ten key figures representing government agencies, academia, venture investors, and space startups to discuss how Korea can shift from a state-driven model toward a venture-led New Space ecosystem.

The initiative was jointly organized by Unicorn Factory, Money Today’s startup-focused media platform, and the Global Digital Innovation Network (GDIN), which will co-manage the forum’s secretariat. Professor Lee Bok-jik of Seoul National University’s Department of Aerospace Engineering has been appointed Chair, while Lee Jun-won, Executive Vice President of Hanwha Aerospace, will serve as Vice Chair.

Participants include the Korea Aerospace Administration (KASA), Korea Aerospace Research Institute (KARI), and Science and Technology Policy Institute (STEPI), which will collaborate on infrastructure and regulatory development. Private-sector participants include IMM Investment, Bluepoint Partners, Perigee Aerospace, TelePIX, and Spex, representing deep-tech investors and emerging New Space startups.

The forum’s first mandate is to design frameworks that help startups attract venture funding, develop international partnerships, and scale globally—issues long constrained by Korea’s historically government-centered space model.

Korea’s Transition from Old Space to New Space

Globally, the space industry has shifted from public-sector exploration to private-sector commercialization, covering everything from launch vehicles and satellites to data analytics and ground infrastructure. Yet Korea’s ecosystem has struggled to match this pace due to fragmented coordination and limited public-private integration.

The K-Space Forum directly addresses this gap. It functions as a cross-sector business platform, providing both policy dialogue and a network for capital formation. Its mission is to expand Korea’s industrial focus beyond launch technologies to the full space value chain—satellite production, data services, materials and components (SoBuJang), and software-driven operational capabilities.

This approach aligns with international New Space trends seen in the United States, Japan, and Europe, where public-private partnerships have proven critical to transforming aerospace innovation into scalable economic value.

Building a “Knowledge and Capital Hub”

Professor Lee Bok-jik, Chair of the K-Space Forum, described the initiative as a pivotal shift:

“Korea’s space industry is moving from government-led to private-sector-centered. We will lead efforts to expand our domestic industry and help Korean companies rise to the core of the global space economy.”

Vice Chair Lee Jun-won of Hanwha Aerospace emphasized ecosystem development:

“Our primary goal is to strengthen Korea’s global competitiveness and establish a sustainable, private-led industrial ecosystem.”

Kang Ho-byeong, CEO of Money Today, added that technological progress alone is insufficient:

“The space industry can only grow when policy, markets, research, and investment move in the same direction. The K-Space Forum will become a platform for collaboration where industry stakeholders can shape strategy, align regulation, and prepare for global expansion.”

GDIN CEO Kim Jong-gap also announced plans to help Korean companies globalize by providing legal, patent, accounting, and market-entry consulting, as well as Proof-of-Concept (PoC) support through GDIN’s “Korean Valley” cluster in Brazil.

Ecosystem Significance: A Structural Pivot in Korea’s Space Economy

The K-Space Forum’s establishment reflects a broader industrial reorientation—one where space technology is treated not as a state project but as a growth industry for K-space startups and private enterprise. Its creation signals that Korea aims to position space as an integral component of its innovation economy, much like semiconductors and AI.

By uniting universities, policy think tanks, venture investors, and startups, the forum is creating Korea’s first cohesive space venture capital network. This model may serve as a blueprint for how emerging economies can develop public-private frameworks to compete in the global space race without relying solely on government budgets.

The inclusion of investors such as IMM Investment and Bluepoint Partners—both known for deep-tech portfolios—indicates growing venture confidence in aerospace as an investable sector.

Meanwhile, startup participation by Perigee Aerospace, Spex, and TelePIX illustrates the depth of Korea’s private engineering capabilities in launch systems, satellite imaging, and AI-based space data.

Forward Outlook: K-Space Forum’s Global Roadmap

The K-Space Forum will link with major global events, beginning with its first official program in April 2026 during Money Today’s Key Platform global conference at Conrad Seoul. It also plans to collaborate with Smart Energy Plus 2026 at COEX in October to showcase Korea’s space startups to domestic and international investors.

GDIN will drive Korea’s space sector globalization strategy by connecting startups with foreign venture capital, joint venture opportunities, and international R&D networks. Unicorn Factory will serve as the primary communication channel, reporting industry sentiment and policy needs directly to government stakeholders.

Building Korea’s Venture-Powered Space Ecosystem

The launch of the K-Space Forum marks Korea’s most structured effort yet to build a venture-powered space ecosystem. Beyond signaling industrial ambition, it reflects a systemic recognition that the space economy—like semiconductors or green energy—requires private capital, global networks, and policy agility to thrive. If successful, Korea’s “New Space” transition could redefine how emerging nations participate in the global space economy.

Key Takeaways on K-Space Forum Launch 2026

• K-Space Forum launched (Feb 2026) to foster a private-led New Space ecosystem integrating startups, investors, and policy agencies.
• Chair: Prof. Lee Bok-jik (Seoul National University). Vice Chair: Lee Jun-won (Hanwha Aerospace).
• Co-secretariat: Unicorn Factory and GDIN. Members include KASA, KARI, STEPI, IMM Investment, Bluepoint Partners, Perigee Aerospace, TelePIX, and Spex.
• Focus areas: full space value chain—launch systems, satellite data, SoBuJang components, and commercialization infrastructure.
• GDIN to support overseas PoC projects and investment linkages via Korean Valley in Brazil.
• Korea’s model reflects a strategic shift from “Old Space” state projects to venture-driven economic ecosystems.

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