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Axiom Space Forms Joint Venture With Korea’s Boryung

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Houston, Texas-based Axiom Space has established a joint venture with South Korean company Boryung to explore opportunities in low-Earth orbit commercial space ventures. 

The new company, named Brax Space Corp., will be based in Korea, where Boryung operates from Seoul. It will focus on potential businesses from Axiom Space, a planned LEO commercial space station, according to Axiom’s press release announcing the joint venture. 

The space station is under development under Axiom’s partnership with NASA. The station’s Axiom Hab One module already has fabricated hatches and is set for pressure testing.

The new JV will handle all Axiom Space projects that will be pursued with Korea’s private and government sectors in such areas as research and development, South Korean manned spaceflight projects, and space module development.

Newly appointed Brax CEO Jack Lim, who headed Boryung’s new portfolio investments group, sees the JV as key to expanding Korea’s space exploration and scientific research.

As LEO access expands, “the demand to utilize space platforms for research and experimentation will continue to grow,” Lim said.

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