The Korea Aerospace Research Institute (KARI) and Hanwha Aerospace have entered the final stages of negotiations for the technology transfer of the Korean launch vehicle Nuri, with only final adjustments remaining.
According to industry sources including the Korea Aerospace Administration on the 22nd, KARI and Hanwha Aerospace are planning to sign a technology transfer agreement on the 25th and are currently in the final stages of negotiations. The scale of the technology transfer that Hanwha Aerospace will receive is about 24 billion won.
Hanwha Aerospace was selected as the comprehensive prime contractor for the project to enhance the Korean launch vehicle by receiving Nuri technology through the 4th to 6th launches in October 2022. Although the goal of the project is to transfer Nuri technology to the private sector, it is known that there were significant differences in the valuation of the technology between KARI and Hanwha Aerospace.
This technology transfer is the first step toward commercializing the Korean launch vehicle project, and it is expected that private space development in Korea will accelerate once the negotiations are finalized.