What Happened
South Korea Urged to Secure Orbital Resources Amid Global Satellite Rush
KT SAT CEO Choi Kyungil has identified Hwaseong City in Gyeonggi Province as an ideal location for a satellite communications ground gateway, citing its proximity to the Seoul metropolitan area and potential for minimal radio interference. Choi emphasized the need for South Korea to secure orbital and frequency resources quickly, as the global space economy is expected to grow to over $1 trillion by 2034. The proposal was made at the launch ceremony of the Hwaseong Special City Aerospace Industry Promotion Group, where Mayor Jeong Myeonggeun expressed support for the commercialization of private space companies’ technologies and the creation of early-stage markets. This development was first reported by The Asia Business Daily.