Satrec Initiative Co., Ltd. announced that it has received KRW 108.92193312 billion in funding from Hanwha Aerospace Co., Ltd.
April 29, 2021
Share
On April 30, 2021, Satrec Initiative Co., Ltd. (KOSDAQ:A099320) closed the transaction. The company issued 1,817,120 common shares for gross proceeds of KRW 58,921,933,120 in its second tranche.
Satrec Initiative Co., Ltd. is a Korea-based company engaged in the provision of satellite systems. The Company operates its business through four divisions: satellite, earth, derivative and other. Its satellite division provides satellite systems, including 300 kilogram (KG) and 200 KG class earth observation small satellite systems, 100 KG class low earth orbit micro-satellite systems, as well as electronic optical cameras, among others. Its earth division provides satellite image signal processing devices and software. Its derivative division provides radioactive ray source and amount monitoring systems. Its other division provides memories used in aerospace industry. On April 1, 2014, it divested its image business into a new wholly owned subsidiary, namely SI Imaging Services Co., Ltd.
SATREC INITIATIVE CO., LTD. 
