Hanwha Systems makes strategic $30 mln investment in U.S. satellite communications company

By Lim Chang-won Posted : May 26, 2021, 09:38 Updated : May 26, 2021, 09:38

[Courtesy of Hanwha Systems]

SEOUL -- Hanwha Systems, a key defense contractor involved in the development of antennas in South Korea, has secured U.S approval to make a strategic $30 million investment in Kymeta, an American satellite communications company. The investment underscores Hanwha's push for the development of low-orbit satellite communication technologies that could be used for air taxis.

Hanwha Systems said its investment in Kymeta has been approved by a U.S. inter-agency committee that reviews the national security implications of foreign investments in U.S. companies or operations. Kymeta has unveiled metamaterials-based flat, lightweight and cost-effective satellite tracking antennas that are designed to work seamlessly for communication in high-volume markets.

Hanwha Systems said the investment is aimed at preoccupying key technologies for low-orbit satellite communication. The company has been involved in the development of high-performance electronic antenna technology based on semiconductor chips since it acquired the business and asset of Phasor Solutions, a Britain-based satellite communication antenna developer, in 2020.

As a key member of UAM Team Korea, a public-private consultative body that would commercialize drone taxis in 2025, Hanwha Systems has proposed an air taxi capable of flying at a maxim speed of 320 kilometers (199 miles) per hour. Urban air mobility (UAM) is an ecosystem covering personal air vehicles and infrastructure.

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