Korea Aerospace shares were strong early on the 12th. Buying picked up after word that Korea Aerospace would take part in the Korea Research Institute for defense Technology planning and advancement (KRIT)'s project to develop "ground-based reusable space launch vehicle methane engine technology."
As of 9:53 a.m., Korea Aerospace was trading on the main bourse at 118,700 won, up 9,100 won (8.30%) from the previous session.
Korea Aerospace Industries (KAI) said the previous day it would join, as a consortium member, the Korea Research Institute for defense Technology planning and advancement (KRIT)'s project to develop "ground-based reusable space launch vehicle methane engine technology."
The project aims to secure, with homegrown technology, a reusable launch vehicle propulsion system that is drawing attention as a core technology for space launch vehicles. It will run for about five years through Oct. 2030 with a total budget of 49.1 billion won.
The consortium includes Hyundai Rotem, which oversees the project, as well as Korea Aerospace, Korean Air, Doosan Enerbility, Vitzro Nextech, Perigee Aerospace, and academia and research groups such as Seoul National University, Pusan National University, Chungnam National University, and Kookmin University.