Korean Air Lines (KRX:003490) and French aerospace company Exotrail signed a memorandum of understanding to develop an orbit transfer vehicle, Yonhap News Agency reported Friday, citing a press release.
Based on the agreement, the two organizations will collaborate on establishing a working group to discuss launch plans and create cost-efficient structures, the report said.
The OTV is aimed at transporting small satellites to their designated orbits with precision, it added.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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