Hancom Group subsidiary Hancom Inspace announced on the 27th that it has hired Park Young-joo, former executive director in charge of new business and strategic investments at POSCO Group, as its new vice president. This appointment is a strategic decision aimed at enhancing momentum ahead of the initial public offering (IPO).
New Vice President Park Young-joo is an expert with extensive experience in strategic planning and capital markets. He began his career as an analyst at NH Investment & Securities and KB Securities, then served as an executive director responsible for new business development at Hong Kong listed Cowell Holdings and led the investor relations department during the IPO of SK bioscience. He later focused on new business planning and strategic investments at POSCO Holdings, concentrating on discovering future growth drivers. Until recently, he managed a holding company fund worth 130 billion won at POSCO Technology Investment. His experience across capital markets, investor relations, and overall new business is expected to play a crucial role in establishing and executing Hancom Inspace's growth strategy.
Hancom Inspace is developing various businesses in the public and private sectors based on satellite, space, and artificial intelligence (AI) convergence technology. In 2022, it launched Korea's first privately developed Earth observation satellite, 'Sejong 1.' This year, it plans to launch 'Sejong 2' through SpaceX. The company is working to establish a daily observation system for the Korean Peninsula using up to 50 cluster satellites, while also enhancing platform technology that integrates, converges, and analyzes three-dimensional data from space, aviation, and ground. Based on this, it is striving to become a Korean mission platform company that understands complex field situations based on data and proactively responds, similar to Palantir in the United States.
Vice President Park decided to join Hancom Inspace, focusing on the company's technological capabilities and growth potential. The company expects that, based on his IPO experience and new business development capabilities, it can effectively communicate its technology and vision to external investors and accelerate its corporate value enhancement.
Recently, Hancom Inspace was recognized externally for its technological capabilities and growth potential by being selected for the 'Innovation Premier 1000,' co-organized by the Ministry of Land, Infrastructure and Transport and 12 other ministries. The unmanned drone operation system it developed, 'DroneSAT,' is being utilized in a demonstration project at a solar power plant in Japan, and it is pursuing a video collection and analysis project with the Japanese space exploration company ispace. With the addition of Vice President Park to the company's expansion into global markets, it is expected to gain further momentum in preparing for the IPO and establishing future strategies.