Under the arrangement inked in Seoul on Friday, the two entities will collaborate to select the optimal launch site and work together on constructing a launch facility equipped with the necessary infrastructure for satellite launches, including a launch pad, a launcher assembly facility and a control center, Innospace said.
In March last year, Innospace's test launch vehicle, Hanbit-TLV, made a successful flight from the Alcantara Space Center in Brazil, becoming the first Korean civilian space rocket.
The signing followed UAE President Mohamed bin Zayed Al Nahyan's visit to Seoul from Tuesday to Wednesday. He and President Yoon Suk Yeol held a summit on Wednesday and agreed to boost economic cooperation between the two countries.
In March, Innospace officials visited the UAE Space Agency for five days, during which the two sides discussed mutual space cooperation initiatives and conducted on-site inspections of potential launch sites in the Middle Eastern country.
"With the signing of this MOU, Innospace is dedicated to making a significant contribution to the implementation of the UAE's space commercialization plan," Innospace CEO Kim Soo-jong said.
"Furthermore, we anticipate that this opportunity will not only establish a foundation for our future entry into the launch service business in the Middle East but also contribute to securing demand for satellite launches."
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