Satrec Initiative teams up with Naver for cloud-based satellite imagery service

[Source: Naver]

Satrec Initiative, a Korean space satellite company, has joined hands with Naver Cloud to launch cloud-based satellite services to local and global customers.

Satrec Initiative, which was established in 1999 by key engineers who developed Korea’s first satellite, Wooribyul-1, has so far participated in more than 30 local and global projects. Hanwha Aerospace, a defense industry unit of Hanwha Group, controls a 30 percent stake in Satrec Initiative.

Satrec Initiative and its subsidiaries SIIS and SIA signed a memorandum of understanding (MOU) with Naver Cloud for strategic collaboration for the space satellite service market, Satrec Initiative said on Thursday. Under the agreement, Naver Cloud will provide its cloud platform to Satrec Initiative.

Satrec Initiative is targeting the global earth observation solution market by integrating satellite image services from SIIS and artificial intelligence-based geographic information analysis services from SIA. Satrec Initiative, which has provided various satellite image services based on satellite systems and core image analysis technology, is planning to launch its own satellite SpaceEye-T in 2024.

Ovision, a satellite and aerial image data analysis platform developed by SIA, will be available through SaaS (Software as a Service) on Naver Cloud on top of its existing infrastructure under the MOU, enabling faster and more efficient satellite image delivery to government, public and private companies, Satrec Initiative said.

In the mid- to long-term, the company plans to advance its AI solution by combining Naver’s AI, search, and 3D map technologies with satellite images to provide services for global customers as well as private companies.

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