The Space Aviation Agency (SAA) announced on the 18th that it has decided to construct its headquarters through a Build-Transfer-Lease (BTL) approach, and will announce a planning proposal competition on the 19th to select excellent BTL proposals. This marks the first step in the construction of the SAA headquarters.
BTL is a method where private entities construct public facilities and transfer ownership to the government, then receive rental payments over a certain period. The SAA aims to complete the headquarters by 2030 and plans to expedite the construction process by using the BTL method to capitalize on private expertise and creativity, handling the project’s planning, design, and construction concurrently.
On the 11th, the Ministry of Economy and Finance made a final decision to acquire land in Block A4 (approximately 21,000 pyeong) of the Gyeongnam Aerospace National Industrial Complex (Sacheon District) as the site for the headquarters. The building is expected to be constructed with a total floor area of 20,913 square meters, making it 2.5 times the size of the currently leased headquarters.
The SAA intends to evaluate participants in the proposal competition and select top proposals by the end of December. Selected participants will work with the SAA to develop a detailed business plan. If the project’s feasibility is confirmed through an assessment by an independent agency, the selected proposer will be granted the status of the first proposer (with incentives such as extra points) under the Private Investment Act.
Director Yoon Young-bin of the SAA stated, “We aim to establish a headquarters that becomes a landmark symbolizing South Korea’s future vision and achievements in the aerospace industry,” adding, “By quickly completing the headquarters, we hope to consolidate and lead national efforts for South Korea to become a powerhouse in the aerospace industry.”
Details regarding the BTL planning proposal competition for the SAA headquarters will be announced on the SAA’s website (www.kasa.go.kr). A business briefing related to the proposal will be held on the 25th. Further details about the competition and future plans can be checked on the website.