Space Hub, an aerospace task force of Hanwha Group, will form a joint space research center with the Korea Advanced Institute of Science and Technology to launch an intersatellite-link project.

Hanwha and KAIST will invest 10 billion won ($8.8 million) into the space research center, the largest one formed by a private company and a university, officials said Monday. The first project will involve the development of intersatellite-link technology, which enables data transmission by shooting lasers between low-Earth orbit satellites.

“The ISL technology can provide internet to moving planes and ships as well as remote areas that don’t have electricity,” a Hanwha official said.

Launched in March, Space Hub consists of key personnel and engineers from Hanwha affiliates including Hanwha Aerospace and Hanwha Systems. Kim Dong-kwan, the 37-year-old chief executive of Hanwha Solutions and the eldest son of Hanwha Group Chairman Kim Seung-youn is leading the task force.

The space research center will further develop technologies that can accelerate the commercialization of private satellites including rocket and satellite-positioning technologies.

By Kim Byung-wook (kbw@heraldcorp.com)