Perigee
Founded 2018 · 30 employees on LinkedIn · 5 known investors
Perigee is involved in space launch and propulsion technologies. This investors/IR page provides shareholder notices and meeting announcements but gives little concrete detail about the company's products or operations.
Also known as Perigee Aerospace · Perigee Aerospace Inc.
Investors · 5
Also in the syndicate · 1
Company profile
researched Aug 2026Perigee Aerospace is a privately held South Korean developer and manufacturer of sub-orbital and orbital launch vehicles, headquartered in Daejeon. The company describes itself as an end-to-end space mobility company that develops and operates launch vehicles and propulsion systems, with a stated focus on liquid propulsion technology and on providing access to Earth orbit and beyond. It began with sounding rockets for Korean government meteorological research and has since concentrated on small-lift orbital launch.
Its principal vehicle is Blue Whale 1, a two-stage, partially reusable small-lift orbital rocket in development. Published specifications give a height of 21 m, a diameter of 1,600 mm, a mass of 2,200 kg, a first stage with nine Blue 1S engines producing 306 kN of vacuum thrust, and a second stage with a single Skyblue engine producing 4.3 kN of vacuum thrust; both stages burn LOX/methane. Stated capacity is up to 170 kg to a 500 km Sun-synchronous orbit and 150 kg to a 500 km low Earth orbit, with a target price below US$3 million per launch and an ambition to conduct up to 40 flights per year from a sea launch pad at the Jeju Space Center. A smaller suborbital vehicle, Blue Whale 0.1, developed with KAIST, has been used to validate Blue Whale 1 engines.
The company reports four facilities and five engine lineups. The Rocket Development Complex in Okcheon spans 16,500 square meters and houses assembly and test buildings, a mission control center, a 3.5-meter autoclave, a tank test site, a turbopump test facility and stage combustion test systems. The Rocket Research Center on the KAIST campus in Daejeon operates a vertical test stand for engines up to 5 tons with GN2 production, LOX/methane storage, noise reduction, LN2 fire suppression and automated remote monitoring across 12 zones. A Future Tech Lab in Seoul works on satellite propulsion and launch vehicle electronics.
Founding story
Development activity started in 2012 with sounding rockets built and launched for Korean government meteorological research, before the company was formally established in 2018. Yoon Shin is the founder and CEO; Korean press coverage in 2024 described the company as a startup created by a founder who was 27 at the time, preparing Korea's first private space launch vehicle flight. KAIST, where the company's Rocket Research Center is located, has supported the effort.
Business model
Perigee Aerospace develops, manufactures and intends to operate its own launch vehicles and propulsion systems, positioning itself as an end-to-end space mobility provider. Revenue sources indicated by the sources include launch services priced per flight, government-funded research and development awards and contracts, and work for a client base described as more than ten customers.
Launch services sold per flight, with Blue Whale 1 targeted at under US$3 million per launch, complemented by government and institutional research and development awards and contracts (more than ten reported) and work for a reported client base of more than ten organizations.
Traction
Reported metrics include more than ten clients, more than ten R&D awards and contracts, five engine lineups, four facilities and over 5,000 seconds of cumulative engine burn time. Flight experience consists of sounding rockets from 2012 onward and Blue Whale 0.1 suborbital tests, including a successful third flight on 24 March 2022; Blue Whale 1 has not yet launched.
Latest developments
The suborbital test flight of the Blue Whale program, previously scheduled for May 2024, was subsequently planned for 2025, with the orbital maiden flight of Blue Whale 1 expected in late 2024 at the time of reporting. Korean media coverage in December 2024 described the company as preparing for South Korea's commercial spaceflight era.
▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies
Market position
Perigee Aerospace is one of the small privately held South Korean launch developers, alongside Innospace, operating in a national space sector otherwise led by government institutions such as KARI and KASA. It is compared in reference material to small-launch companies including Rocket Lab and Firefly Aerospace. Blue Whale 1 remains in development with no launches to date.
The company positions itself around in-house liquid propulsion expertise and vertically integrated infrastructure that allows it to design, build and test launch vehicles internally, including its own engine test stands, autoclave and combustion test systems. Blue Whale 1 is described as partially reusable and low cost, with a target launch price of under US$3 million, and uses LOX/methane propellant across both stages. Sea-based launch from the Jeju Space Center and a reported 5,000-plus seconds of cumulative engine burn time are also cited.
Technology
Liquid propulsion using LOX/methane propellant across a lineup of five engine types. Blue Whale 1's first stage uses nine Blue 1S engines (306 kN vacuum thrust, 327 s vacuum specific impulse, 210 s burn time) and its second stage a single Skyblue engine (4.3 kN vacuum thrust, 355 s vacuum specific impulse, 400 s burn time). The vehicle is two-stage and partially reusable, 21 m tall, 1,600 mm in diameter and 2,200 kg in mass. Supporting test infrastructure includes a vertical test stand for engines up to 5 tons, turbopump and tank test facilities, stage combustion test systems and a 3.5-meter autoclave. A Seoul lab develops satellite propulsion and launch vehicle electronics.
Go-to-market
The company markets launch services and propulsion capability directly, inviting partnerships, investment and inquiries through its website, and works with government research programs and launch-site operators. It has agreements for launch access in South Korea (Jeju Space Center) and South Australia (Southern Launch).
Operators of small satellites requiring launch to low Earth and Sun-synchronous orbits, plus government and institutional research customers; the company previously built sounding rockets for Korean government meteorological research.
Geography
Headquarters in Daejeon, South Korea, with four facilities: the Rocket Development Complex in Okcheon, the Rocket Research Center on the KAIST campus in Daejeon, and the Future Tech Lab in Seoul. Launch operations are planned from a sea launch pad at the Jeju Space Center in South Korea, and the company has signed an agreement to use the Southern Launch facilities in South Australia.
History
Work that became Perigee Aerospace began in 2012 with the development and launch of sounding rockets for meteorological research on behalf of the Korean government. The company was formally established in 2018 and raised two venture rounds in 2018 and 2019 from investors including Samsung Venture Investments and LB Investment, alongside support from KAIST. It employed about 30 people as of 2019 and announced plans in 2019 to launch from Southern Launch facilities in South Australia. The Blue Whale 0.1 suborbital test vehicle flew on 29 December 2021, a flight terminated shortly after takeoff by strong winds, and a successful third Blue Whale 0.1 suborbital test flight followed on 24 March 2022 from Jeju Island. The Blue Whale 1 maiden orbital flight, originally planned for July 2020, has been repeatedly delayed; a suborbital flight was scheduled for May 2024 and subsequently planned for 2025.
Risks & controversies
The Blue Whale 1 maiden orbital flight has slipped repeatedly from an original July 2020 target, and as of the latest reporting the vehicle had not flown. The 29 December 2021 Blue Whale 0.1 launch was terminated shortly after takeoff because of unexpectedly strong winds.
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 4
launches, deals, and filingsThe third flight of the Blue Whale 0.1 suborbital test vehicle took place from Jeju Island and was reported as successful.
Perigee Aerospace launched the Blue Whale 0.1 suborbital sounding rocket, developed in collaboration with KAIST, to validate Blue Whale 1 engines. The flight was terminated shortly after takeoff due to unexpectedly strong winds.
Perigee Aerospace signed an agreement to use the Southern Launch rocket facilities in South Australia, with plans reported for a first South Australian rocket launch.
Between 2018 and 2019 Perigee Aerospace received two rounds of venture capital backing from South Korean technology investors including Samsung Venture Investments and LB Investment, to support development of the Blue Whale vehicle.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 8
primary sources listed
- Perigeeperigee.space · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Perigee do?
- South Korean developer of small orbital and sub-orbital launch vehicles and LOX/methane propulsion systems.
- Who are Perigee's investors?
- Perigee's investors include Aju IB Invesment Corporation, Colopl Next, KT investment Inc., LB Investment.