Korea to Invest 480 Billion Won to Enhance Competitiveness of Satellite Communication Industry
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Update time : 2023-11-08 11:08:55
South Korea's blueprint to promote satellite communications-related technologies at the core of next-generation networks has made new progress. According to the industry, the 480 billion won (2.592 billion yuan) low-orbit satellite communications technology development project applied for by the Radio Policy Bureau of South Korea's Ministry of Science and ICT last month is likely to be selected for preliminary review. This is the first achievement after three times, following two failures in 2021 and 2022.
The first two failures were reportedly due to the inability to obtain a clear demand for services to complement terrestrial communications networks and a lack of commercial viability. But this time around, difficulties are also expected because of the overlap with the 1 trillion won K-Cloud project's advancement, but as the importance of securing national security, space territory and core infrastructure for future communications has gained prominence, judging the ability to secure secure technology is urgent.
If initially selected, the project will be reviewed for scientific and technological, policy and economic feasibility. Once it passes the formal review, it is expected that about 480 billion won will be invested in technology development from 2025 to 2030 to enhance the competitiveness of Korea's satellite communications industry. It is expected to serve as a catalyst to raise the competitiveness of Korea's satellite communication technology and industry to the world level.
Previously, Korea's Ministry of Science and ICT announced a future blueprint containing a satellite communications revitalization strategy aimed at establishing an independent satellite network, achieving self-sufficiency in core technologies for low-orbit satellite communications, and securing access to the global supply chain (GVC). The first step is to strengthen research and development in the field of satellite communications and independently develop and launch low-orbit satellites.
An industry source said, "The specific budget may change during the official review process, but it is expected that about 200 billion won will be invested in satellite development and launching costs, and about 280 billion won will be invested in the rest of the communication carriers and ground stations, terminal equipment, system development, etc."
Also, Korea's Ministry of Science and ICT plans to screen core technologies and spearhead support for technology developers. Next year, 11.1 billion won will be allocated for terminal equipment and ground stations, and assistance will be provided for export references of Korean technology companies, including the opening of experimental stations to help with technology verification. Korea will also support new technology development ahead of the launch of second-generation satellites from Starlink and One Web, as well as Amazon's new entry, in time for the expected entry into the third-generation global satellite market after 2027.
The satellite communications market is considered the core of next-generation communications infrastructure such as 6G and is currently dominated by global private operators such as Starlink and Oneweb. A market worth $216.2 billion is expected to be formed in 2030, of which low-orbit (300-1,500 kilometers) satellite communications will account for 67 percent.
In response, one of Korea's goals is to realize $3 billion in exports in the field of satellite communications by 2030 by actively supporting technological investments in globally competitive low-orbit satellite communications.
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