Hanwha, KAI look to space for future growth Posted : 2021-02-05 15:30 By Kim Hyun-bin Korean defense companies are turning to space exploration for future growth engines as major countries speed up investments in the field. The global space industry has been growing at a rapid pace in recent years and was valued at $423.8 billion as of July last year, according to a report by the Space Foundation. Industry watchers believe the rise in autonomous driving will lead to a surge in data use, requiring more broadband satellites orbiting around the earth. Major defense companies in Korea have been increasing investments in satellite development in order to keep up with the anticipated rise in data demand.