The Korea Space Technology Promotion Association said Lee Yong-bae, CEO of Hyundai Rotem, was elected as its new chairman at a general meeting on the 26th. His term is three years.
Lee graduated from Jeonju University with a degree in business administration and earned a master’s in business administration from Kyung Hee University. He has held senior planning roles at Hyundai Motor, served as a vice president in charge of planning at Hyundai Wia, and was CEO of Hyundai Motor Securities before becoming CEO of Hyundai Rotem in 2020.
Hyundai Rotem has been strengthening its aerospace capabilities, including launching development last year of methane engine technology for the country’s first reusable space launch vehicle.
In his inaugural remarks, Lee said he felt a “heavy sense of responsibility” to lead the association at a time when South Korea’s space industry is entering the NewSpace era in earnest. He said he would focus all efforts on building a globally competitive space ecosystem.
He said he would pursue three key tasks: expanding government-private cooperation, identifying business models such as boosting investment, and strengthening international cooperation networks so Korean companies can compete in global markets.
The association was established in May 2014 to foster the space technology industry. It has 118 member companies, including Hyundai Rotem.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.