Seoul: South Korean space launch startup Innospace Inc. announced a significant US$5.8 million contract with Media Broadcasting Satellite (MBS), a German satellite communications company, for the provision of launch services. The agreement involves two launch missions utilizing Innospace's Hanbit launch vehicle to deploy MBS satellites into low Earth orbit between 2026 and 2029.
According to Yonhap News Agency, the contract also includes a separate agreement where MBS will serve as Innospace's exclusive launch service and marketing agent in Germany. This strategic move is designed to enhance Innospace's foothold in the European space market, with MBS holding exclusive rights to distribute and market launch services based on the Hanbit vehicle to German satellite customers.
Innospace CEO Kim Soo-jong emphasized the importance of the German market, stating, "Germany is a key market in Europe with high technological demand and a rapidly growing space sector." The exclusive agency agreement with MBS is expected to bolster Innospace's local sales capabilities and expand its customer networks within the region.