[Edaily Reporter Kang Min-koo ] A conclusion has been reached that there are no grounds for suspicion regarding allegations, including the leakage of national core technologies, raised against a domestic space company last year.

Satrec Initiative Co., Ltd.(099320)announced on the 2nd that it had received a “no charges” decision from the police regarding the allegations raised last year.

Since its founding in 1999, Satrec Initiative Co., Ltd. has accumulated proprietary technological capabilities ranging from satellite system development to manufacturing, operation, and image utilization. To protect its technological competitiveness, the company operates an internal control system across all aspects of research and development and overseas operations, managing and supervising to ensure that relevant procedures are properly followed.

The police conducted an investigation into allegations of violating the Industrial Technology Protection Act due to the leakage of national core technologies, as well as allegations of violating the Defense Industry Technology Protection Act due to non-compliance with export procedures related to defense technology.

Throughout the investigation, Satrec Initiative Co., Ltd. explained the facts based on objective evidence and consistently pointed out the appropriateness of the application of laws and regulations. The company also explained that it had fulfilled the reporting and licensing procedures required for the export at the time through the relevant authorities.

In its notice of investigation results, the police stated, “It was confirmed that Satrec Initiative Co., Ltd. demonstrated a willingness to comply with export-related laws and regulations, as evidenced by the company’s voluntary application for a determination of national core technology and its receipt of the results,” and added, “There is no evidence to support the allegations under the Industrial Technology Protection Act and the Defense Industry Technology Protection Act.”

Satrec Initiative Co., Ltd. is focusing on advancing its core businesses, including the development of a follow-on satellite to the ultra-high-resolution Earth observation satellite “SpaceEye-T” and the expansion of satellite leasing services. The company plans to continue contributing to strengthening the global competitiveness of South Korea’s space industry based on its accumulated technological capabilities and compliance-oriented management.

CEO Kim Yi-eul said, “We will redouble our efforts for the development of South Korea’s space industry,” adding, “I hope this case will serve as an opportunity for South Korean space companies to enter overseas markets in a more stable and predictable environment.”