(Korea Travel News Jungchan Lee) The Seoul Tourism Foundation announced the official launch of the ‘Space Cities Network (SCN)’ on October 20 in Abu Dhabi, UAE, with participation from four cities, including Seoul. This network aims to foster international cooperation among major global cities in the fields of the space industry and MICE (Meetings, Incentives, Conferences, and Exhibitions).
The SCN includes Seoul, Lausanne in Switzerland, Christchurch in New Zealand, and Houston in the United States. The network seeks to enhance international collaboration in the space and MICE sectors through city marketing support organizations.
Seoul received the proposal to join the network in November 2023 and plans to begin active participation in January 2024.
During the launch event, the importance of international cooperation through the convergence of the space industry and MICE was emphasized, along with the screening of promotional videos outlining the network’s goals and activities. Each city is ramping up efforts to promote the launch of the SCN through domestic and international media coverage.
Specific Activities of the SCN
The SCN aims to establish itself as a leading international cooperation body in the space sector by operating academic and advisory committees, hosting and attracting international conferences, and expanding member organizations. Seoul plans to actively involve domestic experts through these committees. Notably, Kim Min-seok, the Executive Vice President of the Korea Aerospace Industries Association, and Lee Dong-hoon, a professor in the Department of Space Science at Kyung Hee University, are expected to be appointed as advisors representing Seoul. Additionally, Kim Kang-san, the Asia-Pacific coordinator of the International Young Space Alliance, will participate in the Young Professionals Committee.
Economic Outlook for the Space Industry and the Importance of Collaboration
The global space industry is projected to grow from $397.3 billion in 2020 to $1.1 trillion by 2040. In particular, the satellite communications market is expected to reach $412 billion by 2040, accounting for 53% of the total market. The entry of private companies like SpaceX and OneWeb into the low Earth orbit satellite communications market, supported by small satellite technology, is expected to drive significant growth.
In this context, the SCN emphasizes that the convergence of the space industry and MICE will positively impact the global economy, asserting that collaboration between cities will create new opportunities. Experts predict that “the development of the space industry will contribute to technological innovation and job creation, ultimately boosting local economies.”
Future Plans and Expected Benefits
The SCN aims to grow into a global network for the space industry, leveraging the strengths of each city to promote cooperation and development. Seoul expects to enhance its status as a global MICE city through the integration of the space and MICE sectors.
In particular, government initiatives to bridge the digital divide, along with the adoption of AI, machine learning, and cloud technology, are expected to create new opportunities in the space internet market. As the 6G communication era approaches, the combination of terrestrial mobile communications and space internet is anticipated to significantly alter the communication service paradigm.
These innovative changes and collaborations are expected to contribute to Seoul’s positioning as a central hub in the global space industry.