Boryung Invests US$50 Million in Axiom Space

Seoul, South Korea, December 22,2022 - Boryung Co. announced  that it has decided to make a strategic investment of US$ 50 million in Axiom Space, Inc., a U.S. company promoting the construction of the world’s first commercial space station.

In early 2022, Boryung announced the “Care in Space” (CIS) project, with the goal of looking for new business opportunities related to space healthcare in order to preemptively respond to the upcoming space age.

Axiom is building the Axiom Station, the world’s first commercial space station, to replace the International Space Station (ISS), which will be decommissioned within the next decade.

Axiom plans to launch the first module at the end of 2025 and add three more modules to complete the space station, a commercial laboratory and residential infrastructure that will fly independently in the low-earth orbit.

“This strategic investment in Axiom will lay the foundation for finding diverse business opportunities in the private space industry," a Boryung official said. The company plans to launch the global CIS Challenge this year, an annual event designed to look for new business opportunities in space healthcare.