Hancom InSpace Recruits Young-Joo Park, Former Executive Director of POSCO Group, as New Vice President

[Financial News] Hancom InSpace, a subsidiary of Hancom Group, has recruited Young-Joo Park, former executive director of POSCO Group, who was in charge of new business and strategic investments, as the new vice president. This appointment is a strategic decision to add momentum ahead of the initial public offering (IPO).
According to Hancom on the 27th, Young-Joo Park, the new vice president, is an expert with extensive experience in strategic planning and capital markets. After starting his career as an analyst at NH Investment & Securities and KB Securities, he served as the executive director in charge of new business at Cowell Holdings, a listed company in Hong Kong, and led the IPO of SK Bioscience as the head of IR. He then focused on discovering future growth engines while in charge of new business planning and strategic investments at POSCO Holdings, and recently managed a holding company fund of 130 billion won at POSCO Technology Investment. His experience across capital markets, IR, and new business is expected to play a key 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 private earth observation satellite, 'Sejong 1', and plans to launch 'Sejong 2' additionally through SpaceX this year. The company is building a daily observation system of the Korean Peninsula with up to 50 cluster satellites, while advancing platform technology that integrates, converges, and analyzes three-dimensional data from space, aviation, and ground. Based on this, it is evolving into a Korean mission platform company that understands complex sites based on data and responds proactively, like the American company Palantir.
Vice President Park explained that he decided to join Hancom InSpace, focusing on its technological prowess and growth potential. The company expects to effectively convey its technology and vision to external investors based on his IPO experience and new business promotion capabilities, accelerating the enhancement of corporate value.
Recently, Hancom InSpace was selected for the 'Innovation Premier 1000', jointly organized by 13 ministries including the Ministry of Land, Infrastructure and Transport, recognizing its technological prowess and growth potential externally. Its unmanned drone operation system 'DroneSAT' is being used in a demonstration project at a solar power plant in Japan, and it is pursuing a lunar image collection and analysis project with the Japanese space exploration company ispace. With the addition of Vice President Park's recruitment to this global market-targeted business expansion, the IPO preparation and future strategy establishment are expected to gain further momentum. 


jiany@fnnews.com Ji-An Yeon Reporter