INNOSPACE is showing strength on the 11th following news that it has applied for a launch permit from the Korea AeroSpace Administration.

INNOSPACE Space launch vehicle 'Hanbit-Nano' (left) and Hanbit TLV. /Courtesy of INNOSPACE

As of 9:26 a.m. on this day, INNOSPACE is trading at 16,820 won, up 1,090 won (6.93%) from the previous trading day.

The space launch corporation INNOSPACE has reportedly applied for permission for the launch of the 'Hanbit-Nano' rocket in Brazil. Applications were submitted twice in March and April, and it became the first target for launch review after the space administration was established.

The Hanbit-Nano is a two-stage space launch vehicle capable of deploying a 90 kg payload into a 500 km sun-synchronous orbit. INNOSPACE is promoting commercial launches in collaboration with Brazil.

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