Science & Tech · Space · 5 hrs ago
South Korea sets $18 million insurance cap for Hanbit-Nano rocket launch
South Korea’s space agency has proposed an $18 million insurance cap for a private rocket launch.
The cap applies to Innospace’s Hanbit-Nano rocket, which is being considered for launch in Brazil.
South Korean law requires launch operators to hold liability insurance to cover damage caused by an accident.
The amount is set with factors such as the rocket, technical difficulty, launch-site conditions and insurance-market conditions in mind.
This is the first time South Korea has set an insurance amount for a private launch vehicle under the law.
The $18 million figure is a maximum, so the actual insurance policy could be smaller.
Innospace is considering launching Hanbit-Nano in Brazil in the first half of next year, and the agency says it may add rules for launches from other countries.
South Korea’s Space Agency has proposed an $18 million cap on liability insurance for Innospace’s Hanbit-Nano rocket launch in Brazil.
The cap is the first insurance amount set for a private Korean space launch vehicle under the relevant law.
The actual insurance coverage may be lower than the cap.
The agency considered the rocket’s earlier insurance amount and the lack of expected impact in South Korea.
Innospace is considering launching Hanbit-Nano from Brazil in the first half of 2027.
- Who
- South Korea’s Space Agency set the proposed cap for Innospace’s Hanbit-Nano.
- What
- The cap for launch liability insurance is $18 million, or 23.8 billion won. Actual coverage may be lower.
- When
- The proposal was announced in October 2026. A launch is being considered for the first half of 2027.
- Where
- The launch is planned for Brazil.
- Why
- Launch operators seeking permission must have liability insurance. The cap reflects factors including the rocket, launch-site conditions and insurance markets.
This story does not have two clearly opposing sides.
Hanbit-Nano made its first launch attempt, with an insurance amount of $15 million.
The Space Agency announced a proposed $18 million insurance cap for a launch from Brazil.
Innospace is considering launching Hanbit-Nano from Brazil.
- Insurance cap
- $18 million
- Won equivalent
- 23.8 billion won
- Earlier insurance amount
- $15 million for Hanbit-Nano’s first launch attempt
- Rocket
- Two-stage vehicle designed to carry payloads weighing up to 90 kg
- Planned orbit
- 500 km sun-synchronous orbit
1 source
What people are saying
There was no preparation for launching from overseas, so during the first launch attempt there was internal discussion about whether a notice was needed
If launches take place from launch sites in other countries in the future, we plan to respond by adding them to the notice