Asia Pacific Satellite

What Asia Pacific Satellite does

Asia Pacific Satellite Inc. (APSI) is a KOSDAQ-listed South Korean space technology company founded in 2000 that operates three integrated business lines: (1) satellite communication products, including Thuraya-branded satellite phones (XT-PRO, XT-LITE, X5-Touch, Thuraya ONE), maritime devices (MarineStar), broadband terminals (MBH), military modems (Link-K, APT7000), and accessories; (2) satellite onboard electronics and subsystems — proprietary SOBC onboard computers with LEON2 processor and radiation-tolerant FPGA, SDR space data recorders, DLS data link subsystems, micro-satellite avionics, a 100kg-class small satellite platform, EGSE, and 5G NTN/6G modems; and (3) satellite services including Assembly, Integration & Test (AIT), GMPCS satellite communication services via Thuraya, and ICEYE SAR imagery distribution. Flight heritage on Korean national programs — KOMPSAT, CAS500-1&2, KPLO lunar orbiter, PVSAT (launched on Nuri/KSLV-II in June 2022), and Space Verification Satellite-3 (Nuri 6th mission, 2027) — anchors the technology position.

Revenue derives from a mix of hardware sales (recent KRW 6.2 billion XT-PRO contract, June 2026; completed KRW 12.9 billion SAR satellite payload contract with Hanwha Systems 2019–2024), professional services (AIT, GMPCS subscription), and distribution of Thuraya products across 180+ countries. Customers are concentrated in Korean government and defense — KARI, KASA, Hanwha Systems, KAI, Agency for Defense Development, and the Korean military — supplemented by commercial satellite-phone distribution via Thuraya. The company is controlled by CONTEC (same CEO, Lee Sung-hee), and together the group operates 16 ground stations worldwide, with a newly completed AIT Center in Bucheon and the Jeju Asian Space Park (12 LEO receiving antennas). No annual revenue figure is disclosed publicly; contract values and operating scope suggest a small-cap Korean aerospace hardware and services business.

Name

Asia Pacific Satellite

Legal name

ASIA PACIFIC SATELLITE INC

Website

https://apsi.co.kr

Company type

Public

Founded year

2000

Operating status

Operating

Short description

Asia Pacific Satellite (APSI) is a South Korean KOSDAQ-listed space technology company that develops and manufactures satellite onboard electronics, satellite phones, and small satellite platforms for Korean government agencies, defense contractors, and commercial customers, with flight heritage on KOMPSAT, KPLO, and PVSAT missions.

Ownership category

akta.pro rank

Product category

Satellite Communication Equipment

NAICS

Guided Missile and Space Vehicle Manufacturing (336414), Radio and Television Broadcasting and Wireless Communications Equipment Manufacturing (334220), Satellite Telecommunications (517410), Other Communications Equipment Manufacturing (33429), Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System and Instrument Manufacturing (334511)

SIC

Guided Missiles & Space Vehicles & Parts (3760), Radio & Tv Broadcasting & Communications Equipment (3663), Communications Equipment, Nec (3669), Computer Communications Equipment (3576)

akta.pro primary industry

Spacecraft & Satellites (Civil/Commercial) (IMABACAB)

akta.pro secondary industries

Satellite Broadband Terminals & Gateways (VSAT/LEO CPE) (HDAFAIAM), Satellite Network Operations & Capacity Services (NOC, Capacity Leasing, Managed Payload Services) (HDAIAJAI), Satellite IoT & Machine-to-Machine (M2M) Connectivity (LPWAN over Satellite) (HDAIAJAF)

Keywords

• Satellite communication systems
• Satellite onboard electronics
• Satellite ground support equipment
• Satellite AIT services
• GMPCS satellite services

Headquarters

HQ city

Doksansadong

HQ country

South Korea

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Infrastructure, Technology or R&D, Personnel, Supply Chain, Operations, Marketing or Sales

Revenue model

1. Satellite Communication Services (GMPCS): AP Satellite provides GMPCS (Global Mobile Personal Communications by Satellite) services using Thuraya geostationary satellites. Revenue from monthly/usage-based service fees for voice, data, and SMS services.
2. Satellite Phones and Terminal Equipment: Sale of satellite communication devices including Thuraya XT-PRO, XT-LITE, X5-Touch, MarineStar, SatSleeve+, and related accessories. Recently secured KRW 6.2 billion contract for XT-PRO satellite phones.
3. Satellite Payload and Electronics Manufacturing: Manufacturing and supply of satellite onboard computers, payload electronics, data recorders, and ground support equipment for Korean national satellites (KOMPSAT series, CAS500 series, KPLO). Previously completed KRW 12.9 billion SAR satellite payload contract with Hanwha Systems.
4. Satellite AIT Services: Assembly, Integration, and Testing services for satellite manufacturers. AIT Center with 10-meter clean room and electromagnetic environmental testing facilities.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels4 records

Core offering

Asia Pacific Satellite Inc. (APSI) develops, manufactures, and sells satellite communication terminals (Thuraya-based satellite phones, modems, maritime and broadband devices) and satellite onboard electronics (on-board computers, space data recorders, data link subsystems, micro-satellite avionics, and small satellite platforms). The company also provides satellite Assembly, Integration, and Testing (AIT) services, GMPCS mobile satellite communication services, and SAR satellite imagery through partnership with ICEYE.

Product overview

Asia Pacific Satellite (APSI) offers a comprehensive portfolio of satellite communication products and space technology solutions. The satellite communication portfolio includes Thuraya-based satellite phones (Thuraya ONE, X5-Touch, XT-PRO, XT-LITE), maritime devices (MarineStar), dual-mode phones (XT-PRO DUAL), broadband terminals (MBH), vehicle/telematics systems, and various accessories (SatSleeve+, SatSleeve Hotspot, FDU-XT PLUS, VDK). Military/professional modems include APT7000 (TEDS) and Link-K. The space technology division provides onboard computers (SOBC), data recorders (SDR), data link subsystems (DLS), small satellite platforms, avionics, and EGSE for national satellite programs including KOMPSAT and KPLO. Services include satellite AIT, GMPCS communication services, and ICEYE SAR imagery partnership. R&D focuses on 5G NTN and 6G mobile/satellite terminal modems.

Differentiator

Problem solved

Functional benefit

Products and services

• Thuraya ONE Dual-mode smartphone that seamlessly switches between Thuraya satellite and GSM networks, offering connectivity across 150+ countries with 370+ roaming partners. Features 6.67-inch AMOLED display, 50MP camera, and Android 14.
• X5-Touch World's first Android-based satellite and GSM phone with 5.2-inch full HD touchscreen, dual SIM slots, IP67 rating, and MIL 810 G/F compliance. Supports 'Always On' mode for simultaneous satellite and GSM communication.
• XT-PRO Satellite Phone Professional-grade satellite phone featuring longest battery life (9 hours talk time), largest Gorilla glass display, GPS/BeiDou/GLONASS navigation, and dedicated SOS button. Designed for government, energy, media, and NGO users.
• XT-LITE Satellite Phone Entry-level satellite phone offering optimal quality at affordable price. Features satellite calls and SMS, 2,680mAh battery (6 hours talk time, 80 hours standby), and easy operation for non-experts.
• XT-PRO DUAL Satellite Phone World's first dual mode and dual SIM phone supporting both satellite and GSM communication simultaneously. Features IP55 rating, GPS/BeiDou/Glonass/Galileo navigation, and coverage across 160+ countries.
• MarineStar Maritime Satellite Device Maritime satellite device combining durable design with circuit-switched voice, SMS, GmPRS data, and tracking services. Designed per IEC 60945 standard for stable operation in extreme environments.
• MBH Mobile Broadband Hub Integrated broadband data communication terminal with auto-tracking antenna and access point. Supports Standard IP 300/100kbps, built-in satellite modem with Wi-Fi, tracking, geofencing, and remote programming capabilities.
• Telematics Monitoring System Remote vehicle control system delivering vehicle speed, status, location, and fuel data to web servers for real-time monitoring via satellite and ground communication networks.
• APT7000 TEDS Modem World's first internationally certified TEDS (TETRA Enhanced Data Service) modem for high-speed data communication. Supports 4x faster packet data than standard TETRA modems. Received international TEDS certification in 2014.
• Link-K Military Satellite Modem Military satellite communication modem for vehicle, fixed, and ship terminals. Enables real-time tactical situation information exchange via TDMA with transmission rates up to 256kbps. Supplied to Korean military.
• SOBC Standard On-Board Computer Standard satellite onboard computer for LEO/GEO satellites featuring LEON2 processor and radiation-tolerant FPGA. Supports CAN, MIL-STD-1553B, SpaceWire interfaces. Flight heritage on CAS500-1&2, KPLO lunar orbiter, and CAS4&5 missions.
• SDR Space Data Recorder High-speed space data recorder for compressing, storing, encrypting, and transmitting high-resolution imagery from EO, IR, and SAR sensors. Available in SDRAM-based (128 Gbits per module) and NAND flash memory-based (1.4 Tbits per module, up to 15 Tbits) configurations.
• DLS Data Link Subsystem Payload subsystem consisting of SDR, X-band Transmitter Assembly, and X-band Antenna Assembly for storing and transmitting high-resolution satellite imagery to ground stations via RF signals.
• 100kg-Class Small Satellite Platform High-performance 100kg-class compact satellite platform developed for KSLV-II performance verification. COTS and open-source-based design with precise attitude control. Supports missions up to 700km SSO.
• Micro Satellite Avionics Core avionics for small satellites including System Control Unit (SCU) and Power Control & Distribution Unit (PCDU). Compact/lightweight design using LEON2 processor, optimized for constellation satellites.
• EGSE Electrical Ground Support Equipment Test and verification equipment for satellite electronics development. Supports TC&R, EPS, payload, and launch site testing with GUI-based automated test capabilities.
• Satellite AIT Service Assembly, Integration & Test services for satellites. Supports KOMPSAT, GEOKOMPSAT, and CAS500 satellite programs with space environment testing capabilities at the AIT Center's 10-meter clean room and electromagnetic environmental testing facilities.
• GMPCS Satellite Communication Service Global Mobile Personal Communications by Satellite service using Thuraya geostationary satellites. Provides voice, data (up to 9.6kbps), SMS, and GPS services. APSI designated as key telecommunications service provider by Korea Communications Commission in February 2009.
• ICEYE SAR Imaging Service Strategic partnership with ICEYE OY for small SAR satellite imagery. Provides 1-15m resolution SAR imagery with 24-hour operation capability and 6 revisits per day.

Quantifiable outcome

• Reduced satellite development costs through modular SOBC design enabling function module reconfiguration for new satellites
• +1 more outcomes

Named customers7 records

Segments3 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature10 records

Partnerships

13 partnerships are on record, tiered minor and core.

• Korea Automobile Testing & Research Institute (KATECH)minorStrategic or Co-development Partner · 4 February 2026MOU signed February 4, 2026 for joint research on space exploration mobility. Collaboration includes prototype lunar exploration mobility platform development and AI-integrated electronic systems for space mobility applications.
• ICEYE OYcoreStrategic or Co-development Partner · 27 May 2019Strategic partnership and satellite image supply agreement signed May 27, 2019 for small SAR satellite business. ICEYE is a Finnish startup specializing in small SAR satellites. Partnership includes MOU for new space market pioneering and satellite imaging project collaboration.
• Thuraya Telecommunications CompanycoreChannel Partner/ Reseller/ DistributorExclusive distribution partner for Thuraya satellite communication services in Korea using UAE geostationary satellites (Thuraya-3 at 98.5° longitude). AP Satellite designated as key telecommunications service provider by Korea Communications Commission in February 2009.
• Korea Aerospace Research Institute (KARI)coreStrategic or Co-development PartnerLong-standing partner for national satellite programs including KOMPSAT series, KPLO lunar orbiter, and Nuri launch vehicle satellite development. AP Satellite developed PVSAT for KSLV-II performance verification.
• Hanwha SystemscoreStrategic or Co-development PartnerStrategic partner for SAR satellite development. Completed KRW 12.9 billion contract (2019-2024) for SAR satellite payload development. Currently collaborating on ultra-high resolution (0.15m) test satellite for VLEO.
• Korea Aerospace Industries (KAI)coreStrategic or Co-development PartnerJoint development partner for Arirang 3A satellite. Consortium partner for next generation medium satellite 1 and 2 payload programs.
• ConteccoreStrategic or Co-development PartnerRelated group company under CEO Lee Sung-hee. Contec operates global ground station network and satellite operation services. Combined entity forms Contec Space Group providing integrated space solutions from satellite manufacturing to ground station services.
• Agency for Defense DevelopmentcoreStrategic or Co-development PartnerKorean defense research agency. AP Satellite supplies military satellite communication equipment including Link-K modems for tactical communications systems.
• KT SATminorStrategic or Co-development PartnerCollaboration on 5G NR NTN technology demonstration. AP Satellite successfully demonstrated 5G NR NTN capabilities in partnership with KT SAT.
• HFRminorStrategic or Co-development PartnerMOU signed for 5G-based terrestrial and non-terrestrial communications collaboration. Partnership exploring integration of satellite and ground communications.
• Ajou UniversityminorStrategic or Co-development PartnerMOU for joint research on next-generation satellite communication technologies. Collaboration on academic research and talent development.
• Korea Advanced Institute of Science and Technology (KAIST)coreStrategic or Co-development PartnerResearch partner for 200mN-class plasma propulsion system development. Partnership includes Satellite Technology Research Center collaboration and national space R&D projects.
• Korea Aerospace University (KAU)minorStrategic or Co-development PartnerAcademic partner for 200mN-class plasma propulsion system development as part of Space Pioneer Program.

Scale indicators7 records

Recent moves8 records

Expansion highlights7 records

Emerging players

• ICEYE: Finnish small SAR satellite operator. APSI resells ICEYE imagery in Korea under a 2019 partnership, making ICEYE both a commercial counterpart (SAR data services) and a channel partner for APSI's satellite manufacturing ambitions.
• LeoSpace: Daejeon-based startup specializing in small-satellite optical payloads and laser communications. APSI and Contec jointly took minority stakes in LeoSpace in Jan 2026, making it both a portfolio investment and a complementary Korean NewSpace peer in payloads.
• York Space Systems: U.S. small satellite bus and payload manufacturer. Both companies compete on standardized, COTS/open-source small satellite platforms targeted at government constellation customers — APSI's 100kg-class platform is a direct functional analog.

Broad incumbents

• Viasat: Global satellite operator with broadband, mobility, and defense terminal businesses. Overlaps with APSI on satellite communication equipment (terminals, modems) and defense satellite services via Link-K/TEDS-style offerings.
• Iridium Communications: Global L-band MSS operator with Iridium Certus and direct-to-handset plans. Competes with Thuraya/GMPCS in the satellite phone and IoT space APSI serves, and is the most relevant global benchmark for the company's GMPCS recurring service.
• Hanwha Systems: Major Korean defense and satellite systems integrator. Hanwha is APSI's customer and partner on the KRW 12.9B SAR satellite payload and is also a competitor in Korea's defense satellite programs, making it the closest comparable Korean prime.
• Korea Aerospace Industries (KAI): Korea's flagship aerospace manufacturer, a joint development partner with APSI on Arirang 3A and next-gen medium satellite payloads. Operates in the same national satellite programs and pursues overlapping bus/platform work.

Direct peers

• Satrec Initiative: Korean small-satellite platform and EO payload manufacturer (spun out from KAIST). Directly comparable on national satellite payload programs and the small satellite platform category, and competes for similar KARI/KASA contracts.
• Thuraya Telecommunications Company: UAE-based operator of the geostationary satellites that APSI resells as its exclusive Korean distributor. The two share the satellite-phone/GMPCS value chain — Thuraya on the space segment and APSI on the terminal/service distribution side.

Regional players

• Contec: APSI's parent company and the operator of the global ground station network (16 sites). Combined under CEO Lee Sung-hee into the Contec Space Group, Contec provides the ground segment counterpart to APSI's space segment and is effectively an integrated sister peer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Asia Pacific Satellite