LG exploring business opportunities in space industry: KASA

SEOUL, June 27 (Yonhap) -- South Korea's LG Group is considering entering the space industry and exploring potential business opportunities in the field, the Korea Aerospace Administration (KASA) said Friday after holding talks with the conglomerate. KASA Administrator Yoon Young-bin met with LG officials at the group's research and development (R&D) complex in Seoul earlier in the day to discuss strategies for expanding the private sector's role in South Korea's aerospace industry. At the meeting, LG outlined its ongoing review of space-related technologies and shared updates on its support for domestic space startups, according to KASA. The group presented a case study involving a successful lunar rover mobility test conducted in partnership with local startup Unmanned Exploration Laboratory, and unveiled a long-term goal of enabling lunar landing by 2032. LG Energy Solution Ltd., the group's battery manufacturing unit, was previously selected by the U.S. National Aeronautics and Space Administration (NASA) in 2016 to supply lithium-ion batteries for astronaut spacesuits used in deep space exploration. "LG is currently in the early stages of evaluating the feasibility of entering the space industry. We plan to closely assess various environmental factors in space and explore potential business models," an LG official said. KASA said it highlighted key government policies aimed at expanding private-sector participation in the space industry, and emphasized the importance of swift response to technological and policy shifts. This undated file photo shows LG Science Park, the research and development (R&D) complex of South Korea's LG Group, in Seoul. (PHOTO NOT FOR SALE) (Yonhap) odissy@yna.co.kr(END)

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SEOUL, June 27 (Yonhap) — South Korea’s LG Group is considering entering the space industry and exploring potential business opportunities in the field, the Korea Aerospace Administration (KASA) said Friday after holding talks with the conglomerate.

KASA Administrator Yoon Young-bin met with LG officials at the group’s research and development (R&D) complex in Seoul earlier in the day to discuss strategies for expanding the private sector’s role in South Korea’s aerospace industry.

At the meeting, LG outlined its ongoing review of space-related technologies and shared updates on its support for domestic space startups, according to KASA.

The group presented a case study involving a successful lunar rover mobility test conducted in partnership with local startup Unmanned Exploration Laboratory, and unveiled a long-term goal of enabling lunar landing by 2032.

LG Energy Solution Ltd., the group’s battery manufacturing unit, was previously selected by the U.S. National Aeronautics and Space Administration (NASA) in 2016 to supply lithium-ion batteries for astronaut spacesuits used in deep space exploration.

“LG is currently in the early stages of evaluating the feasibility of entering the space industry. We plan to closely assess various environmental factors in space and explore potential business models,” an LG official said.

KASA said it highlighted key government policies aimed at expanding private-sector participation in the space industry, and emphasized the importance of swift response to technological and policy shifts.