Hanwha Aerospace Acquires Full Rights to South Korea Nuri Rocket Technology

Hanwha Aerospace Takes Over Nuri Rocket Technology in Private Space Push

South Korea’s space ambitions took a historic turn with Hanwha Aerospace’s acquisition of the full lifecycle technology of the Nuri rocket, marking the first time a private Korean company gained complete control over a national space launch system. This transfer signifies a broader shift in the global aerospace industry, where public-private partnerships are becoming the norm, and private firms are stepping into roles traditionally held by government agencies.

The Nuri rocket, officially known as the Korea Space Launch Vehicle-II (KSLV-II), is South Korea’s first entirely homegrown space launch vehicle. Developed by the Korea Aerospace Research Institute (KARI) in collaboration with over 300 private companies, Nuri represents more than a decade of technological advancement and strategic investment by the South Korean government. With this transfer, Hanwha Aerospace is poised to lead the next chapter of Korea’s space journey, potentially positioning itself as a regional competitor in the growing commercial space launch market.

This move not only underscores the maturation of South Korea’s aerospace sector but also reflects the increasing importance of commercial viability, innovation, and international competitiveness in space exploration. As Hanwha Aerospace takes the helm, the stakes are high for both the company and the country’s long-term space strategy.

Background: The Nuri Rocket Program

The Nuri rocket project began in 2010 with the goal of establishing South Korea as a nation capable of independently launching satellites into orbit. The project culminated in a successful launch in June 2022, making South Korea the seventh country globally to achieve this milestone. The program was spearheaded by KARI and supported by a network of more than 300 domestic firms, including Hanwha Aerospace, which played a critical role in engine development.

Key technical specifications of the Nuri rocket include its three-stage liquid-fueled design, powered by KRE-075 engines in the first and second stages and a KRE-007 engine in the third stage. It has a payload capacity of approximately 1,900 kilograms to low-Earth orbit (LEO), placing it in the medium-lift category of launch vehicles. The rocket has undergone three launches to date: a failed attempt in October 2021, a successful orbital launch in June 2022, and a third mission in May 2023 that deployed multiple satellites.

The South Korean government invested approximately 2 trillion won (around $1.7 billion) into the development of the Nuri rocket, showcasing its commitment to building a sovereign space launch capability. This extensive investment laid the groundwork for the eventual privatization of the technology, culminating in Hanwha Aerospace’s acquisition of full lifecycle rights in 2025.

Technological Significance

The Nuri rocket stands as a testament to South Korea’s engineering capabilities. Its development involved the creation of complex propulsion systems, structural components, and Avionics, most of which were produced domestically. Hanwha Aerospace, in particular, was responsible for manufacturing the engines that power all three stages of the rocket.

Beyond its technological milestones, Nuri’s development fostered a robust aerospace supply chain within South Korea. This ecosystem now provides a foundation for further innovation, including the development of next-generation launch vehicles and potential reusable systems. The successful deployment of satellites during the third mission also demonstrated the rocket’s operational maturity and reliability.

Despite these achievements, challenges remain. Nuri is currently a non-reusable rocket, which limits its cost efficiency compared to competitors like SpaceX’s Falcon 9. This has prompted discussions about future upgrades, including reusable variants and heavier-lift versions aimed at geostationary orbit missions.

“This transfer marks a first step toward rebuilding trust and fostering future collaboration between KARI and Hanwha Aerospace. It will accelerate the private sector’s role in advancing Korea’s space industry.”, Yoon Young-bin, KASA Administrator

Hanwha Aerospace’s Acquisition and Strategic Goals

On July 25, 2025, Hanwha Aerospace officially signed an agreement with KARI to acquire full lifecycle rights to the Nuri rocket technology. The deal, valued at 24 billion won (approximately $17.5 million), grants Hanwha exclusive rights to manufacture and launch Nuri rockets until 2032. This includes control over design, production, and operations, though it excludes certain government-owned facilities such as the launchpad and propulsion test sites.

Hanwha plans to leverage its broader corporate ecosystem to commercialize the Nuri platform. Through subsidiaries like Hanwha Systems and Satrec Initiative, the company aims to offer integrated space solutions, including satellite manufacturing, launch services, and space-based applications. This vertically integrated model mirrors that of global leaders like SpaceX, which have successfully combined multiple space-related services under one corporate umbrella.

The fourth launch of the Nuri rocket is scheduled for November 2025. Hanwha will oversee this mission in collaboration with KARI, marking its first operational involvement under the new agreement. This launch is expected to serve as a critical test of Hanwha’s capabilities in managing the complex logistics and technical requirements of space missions.

Challenges and Considerations

Despite the strategic advantages, Hanwha faces several challenges. One of the most pressing is the high cost of producing the Nuri rocket. Each unit reportedly costs hundreds of billions of won to manufacture, making cost reduction a priority for future competitiveness. Transitioning to reusable rocket technology could be one solution, though it would require significant R&D investment.

Another issue is the ongoing negotiation over intellectual property rights for next-generation rockets. While Hanwha now controls Nuri’s technology, the development of future vehicles, such as the GEO KSLV for geostationary missions, will likely involve shared IP with KARI. Resolving these issues will be essential for avoiding legal disputes and ensuring smooth commercialization.

Finally, Hanwha must secure a steady stream of launch Contracts to sustain operations. This includes attracting international satellite operators and partnering with governments or commercial entities in Asia and beyond. The estimated $30 million launch cost for Nuri positions it competitively in the regional market, but success will depend on execution and market dynamics.

“Hanwha must focus on securing competitive semi-large projectiles and achieving economic feasibility to meet market needs. This deal is a starting point for global competitiveness in low-Earth orbit and deep-space exploration.”, Bang Hyo-chung, National Space Commission

Global Market Context and Future Outlook

The global space launch services market is experiencing rapid growth, driven by increasing demand for satellite constellations, Earth observation, and telecommunications. According to industry research, the market is projected to grow at a compound annual growth rate (CAGR) of 14.6%, reaching $41.3 billion by 2030. This expansion presents significant opportunities for new entrants like Hanwha Aerospace.

In this context, Hanwha’s acquisition of the Nuri rocket technology could position South Korea as a competitive player in the commercial launch sector. The country’s existing aerospace infrastructure, combined with Hanwha’s industrial capabilities, provides a strong foundation for growth. Moreover, Nuri’s relatively low launch cost could make it attractive to small satellite operators in Southeast Asia-Pacific and other emerging markets.

Looking ahead, Hanwha plans to develop upgraded versions of the Nuri rocket, including a variant capable of reaching geostationary orbit. This would expand its service offerings and enable participation in more lucrative segments of the launch market. There is also the potential for dual-use applications, though government officials have emphasized that the current focus remains on civilian and commercial missions.

Conclusion

Hanwha Aerospace’s acquisition of the Nuri rocket technology marks a pivotal moment in South Korea’s space journey. It represents a strategic shift toward private-sector leadership, aligning the country with global trends and setting the stage for expanded commercial activity in space. With exclusive rights until 2032, Hanwha has a unique opportunity to shape the future of Korea’s space industry.

However, realizing this potential will require overcoming significant challenges, including cost reduction, IP resolution, and market expansion. By investing in reusable technology and fostering international partnerships, Hanwha can build a sustainable business model while contributing to South Korea’s long-term space ambitions. The coming years will be critical in determining whether this bold move translates into lasting success.

FAQ

What is the Nuri rocket?
The Nuri rocket (KSLV-II) is South Korea’s first fully indigenous space launch vehicle, designed to place satellites into low-Earth orbit.

Who developed the Nuri rocket?
The rocket was developed by the Korea Aerospace Research Institute (KARI) in collaboration with over 300 domestic companies, including Hanwha Aerospace.

Why is Hanwha Aerospace’s acquisition significant?
It marks the first time a private South Korean company has acquired full lifecycle control over a national space launch system, signaling a shift toward privatization and commercial space development.

Sources

Hanwha Newsroom, JoongAng Daily, Korea.net, Wikipedia