Recommended by Yoon Young-bin, the first director of the Korea Aerospace Research Institute!
A Must-Read for the Space Economy in the New Space Era

“An excellent article summarizing the current state and future of the space economy from an insider’s perspective.
“If you work in the space economy, you must read this book.”
—Chris Hadfield, former commander of the International Space Station (ISS)

Minumsa has published "Space Economy," a space business guidebook that provides an in-depth analysis of the key changes in investment and entrepreneurship in the era of private space development.
Author Chad Anderson is the founder of Space Capital, which has led investments in global space companies such as SpaceX and Rocket Lab, and is evaluated as “one of the people who will have a great influence on the present and future of the space startup industry in terms of investment and operation” (TechCrunch).
As someone who has observed the space market from its early days, he laments the reality that despite the rapidly increasing economic value of space, its potential is not properly embraced. He willingly shares his secret expertise in this book to overcome these limitations and promote the desirable growth of the space economy.
"Space Economy" provides a neutral and clear overview of the background and obstacles to space commercialization, key industries (GPS, GEOINT, SatCom), and key figures, and generously shares practical lessons learned from the market about entrepreneurship and investment.
In addition, we introduce the launch vehicle 'Starship' that will change the existing paradigm and future industries that are increasing in size.

In this way, "Space Economy" comprehensively covers the present and future of the space economy and is recognized as an introductory and guidebook to the space economy by experts in the field.
Yoon Young-bin, the head of the Korea Aerospace Research Institute (KARI), which was established in recognition of the importance of commercial space development in Korea, praised the book, saying, “It provides a direction for countries, companies, and individuals to take in space investment.”
In addition, Dr. Lee Ki-joo, who participated in the Nuriho development project at the Korea Aerospace Research Institute, was in charge of recommendation and review, and recommendations were received from leading domestic space industry experts, including Choi Seong-hwan, a specialist at Hanwha Systems and former head of the Air Force Space Center.
Overseas, it has been praised by authorities in the space and economics fields, calling it “an excellent book that summarizes the current state and future of the space economy from an insider’s perspective” (Chris Hadfield, former commander of the International Space Station), “an essential guide to the revolution taking place in space” (Matthew Wineziel, professor at Harvard Business School), and “full of insights for entrepreneurs, investors, and policymakers” (Mark Ventresca, professor at Oxford Saïd School of Management).

“The value of the universe is infinite.
As global space development opportunities expand to include private space startups, this article provides guidance on the direction countries, companies, and individuals should take in space investment.
Yoon Young-bin, Administrator of the Korea Aerospace Administration and Professor of Aerospace Engineering at Seoul National University

Technological innovation that shook the world,
After the Internet comes space.

The world has changed rapidly since the advent of the Internet in the 1990s.
Elon Musk, one of the few people who saw the Internet's potential early on, already identified space as the next big thing after the Internet in 2003.
And now, the market value of the space economy is growing day by day, making that prediction a reality.
Bank of America predicts the space economy will be a “$1.4 trillion market” by 2030, Morgan Stanley predicts that space-based businesses will “create the world’s first trillionaires,” and CNBC predicts it will be “the next trillion-dollar Wall Street industry.”
Given that private sector activity in space has only been around for a decade, the space economy is still in its infancy.
Private companies are rapidly entering the launch and satellite industries, and the types of new industries that are emerging from them are endless.
This book explains how the space industry is positioning itself as an innovation that surpasses the Internet and how it is changing the world.
Furthermore, it reveals “a world of new possibilities” by detailing how it will actually impact our daily lives and our future.

“Anderson provides insights into how, why, and where the space industry is moving.”
—Peter Marquez, Head of Space Policy, Amazon Web Services (AWS)

What is needed in the new space era?
The right perspective to distinguish between reality and fantasy

We cannot grasp the true value of the space economy simply by referring to the deluge of media reports, corporate advertisements, and statements from relevant individuals.
This is because the market itself has many unique characteristics, requiring a great deal of effort to properly understand.
The space economy differs from other sectors in that it is closely linked to government agencies and policies.
From Neil Armstrong's moon landing (1969) to Dragon's first successful commercial space flight (2012), the pause in space development was intertwined with complex political and economic situations.
If you don't understand the context, it's hard to see the forest for the trees.
Moreover, the space economy is vast in scope and size, and as a newly emerging market, it generates countless rumors.
Distinguishing between reality and fantasy requires a basic and general understanding of the subject.
The author has observed the emergence of the space economy market since its inception and has keenly recognized the importance of cultivating a sound perspective.
Thus, throughout the book, we introduce credible experts and make their hard-won insights available to a wide audience.
This book, which covers everything we want to know and everything we need to know, will help you develop the discernment to distinguish between truth and fiction among countless possibilities.

The label of technology has now lost its meaning.
Because all companies are technology companies.
Space now occupies the same position as technology did then.
As every company in the future begins to rely on space-based technologies to deliver value in some way, the label “space” will eventually lose its usefulness.
--- p.17

Among the space economy companies, there are those that genuinely strive to improve our quality of life—from reducing pollution to ensuring we have enough food—but are often difficult to explain to the general public.
On the other hand, there are companies that grab media attention with flashy and dramatic promises, but pursue an approach that is not in the right direction.
--- p.31

The space economy is a complex and influential topic that deserves a book of its own.
The space economy isn't something you can understand by reading recent newspaper headlines.
(...) Understanding today's space economy requires not only a balanced, fact-based perspective, but also sufficient context to understand its implications.
--- p.31

People always misunderstand the pace of technological advancement.
When a new innovative technology emerges, we all imagine the incredible possibilities that will soon be realized.
But if that possibility isn't immediately realized, we quickly become cynical and lose interest in the technology.
Meanwhile, outside the public eye, early innovations continue to develop, albeit slowly at first, and at an increasingly rapid pace.
(...) the space economy has reached this inflection point.
Are you interested now?
--- p.52

Much of the growth in the space economy we've seen over the past decade has been built on a launch paradigm that's now a decade out of date.
With the arrival of SpaceX's massive Starship, a 100 percent reusable spacecraft, we will enter a new phase of development that will further accelerate growth and enable entirely new industries.
The space economy promises viable solutions to some of the most pressing and urgent problems of our time, from resource depletion to climate change.
--- p.57

When observing the world through the lens of the space economy, it is as important to notice what is not yet there as it is to see what is already there.
We are now at an inflection point in the S-curve of new technological innovation and opportunity.
And we're just beginning to feel the impact of that inflection point.
My hope is that the gaps you uncover in this chapter will become future opportunities for new startups.
--- p.108

What matters to investors is not what is sold to consumers today, but what will be sold in this new market tomorrow.
(...) “The smart investment, as I see it, is to invest in markets where I think there is unique value to be gained from space.
For example, with so many satellites in orbit, we might ask questions like, “Do they need regular refueling, or do they need ongoing service and maintenance?”
--- pp.245-246

We believe the space economy will continue to move against the economic cycle.
Investing in space companies is not as high-risk as investing in other cutting-edge technologies.
Many of the companies driving the space economy are largely unaffected by changing market conditions.
Because it is part of a value chain that provides critical data to governments and businesses, which increase their data purchases when market conditions become unstable.
--- p.250

As leaders in the space economy, we cannot afford to focus solely on the current challenges.
Things are changing very quickly.
(...) The future of the space economy is becoming present at an alarming rate.

--- p.311