Finland satellite information corporations ICEYE is setting up a Korea subsidiary to go after the domestic defense and space markets.
ICEYE said on the 27th that it established ICEYE Korea and appointed Eric Lee as CEO. Lee has more than 15 years of experience in defense, aerospace, and space systems. He will lead Korea business strategy overall and head the mission satellites, Earth observation data, and satellite-based solutions businesses.
ICEYE is a space corporations that operates the world's largest synthetic aperture radar (SAR) satellite constellation. Based on capabilities that span from satellite development and manufacturing to operations and observation data analysis, it supplies satellite systems that customers can operate on their own.
SAR satellites send radio waves to the Earth's surface and analyze the reflected signals to generate imagery. They can observe the ground at night without sunlight and in situations where visibility is obscured by clouds or smoke, so they are used for defense and intelligence, disaster response, maritime monitoring, and environmental observation.
ICEYE Korea will focus its business on strengthening domestic intelligence, surveillance, and reconnaissance (ISR) capabilities. It also plans to support the growth of Korea's space and defense industry ecosystem by pursuing technology validation, participation in the domestic supply chain, and the development of specialized talent.
Since 2018, ICEYE has launched 76 SAR satellites, including customer-dedicated satellites. Its latest fourth-generation satellites can image the Earth's surface at resolutions up to 16 centimeters. The company also set a goal to expand its satellite production capacity, currently around 50 per year, to 100 after 2027.
It is already laying the groundwork for domestic operations. On July, in cooperation with KT SAT, it agreed to provide flood and ground subsidence observation data to Korean government agencies and corporations. When heavy rain occurs, it supports disaster response by analyzing inundation ranges within hours based on SAR satellite observation data.
It will also expand industry-academia cooperation. ICEYE on the 26th signed a memorandum of understanding (MOU) with Seoul National University for research and education cooperation in satellites and artificial intelligence (AI). The two sides will review establishing the "SNU-ICEYE Cooperation Center," which would handle research, education, and satellite operations, and will seek joint next-generation space technology research and development (R&D).
Rafal Modrzewski, ICEYE chief executive officer (CEO), said, "Korea is an important market in Asia," adding, "We will work with the government, industry, and academia to help advance Korea's independent space and defense capabilities." Lee said, "We will focus on providing the technologies and solutions needed by domestic partners."