Asset Finance & Alternatives in APAC & Beyond
Aviation Finance, Alt Asset Finance in APAC & Beyond
Your exclusive gateway to the latest developments across transportation and space, and most importantly, how to finance it all - debt, equity, and defi! We follow and forecast where the money’s at.
Join us as we navigate through the latest roundup to uncover key developments across the region.
**Nothing in this article is intended to be or should be construed as legal or financial advice.**
Summary
Financing & Investments: AirTrunk Opens Singapore HQ; AirTrunk Secures JP¥191.6 Billion Green Loan in Japan; Accelerated Infrastructure Capital to Develop $2.1B AI Data Center in Vietnam; Bursa Malaysia Seeks Feedback on Digital Currency ETF Rules; CUSTA Raises $4.3M in Pre-Series A; PDG Plans Up to $5B in Debt Financing; MetaComp Completes Pre-A+ Round Backed by Alibaba; Empyrean Sky Partners Announces $90M First Close; KAST Raises $80M in Series A; and Cooler Master Invests $200M in Vietnam
Environmental Sustainability: Sydney Airport Research Supports SAF Development; ISCC Partners with OMV and Airbus on SAF Ecosystem; Re Sustainability and Indian Oil to Launch Lubricant Recycling Program; CTDC, BGMC, and reNIKOLA Sign Green Energy Term Sheet; and Equator Renewables Asia Raises S$50M for Indonesian Project
Aviation: Qantas Agrees to $105M Settlement Over Flight Credits; Report Details Slot Utilization at Sydney Airport; IATA Rolls Out Three AI Initiatives for Air Cargo; IndiGo CEO Resigns Following Major Operational Failure; Bharat Forge Inaugurates Landing Gear Facility with Liebherr; and Air New Zealand to Cancel Roughly 1,100 Flights
Advanced Air Mobility: Eve Partners for eVTOL Operations in Australia; EHang Reports First GAAP-Profitable Quarter; EHang Partners with Türk Telekom for AAM in Türkiye; WEF Releases 10-Step Strategy for AAM in India; Japan Identifies 61 Priority Tech Targets Including AI and Robotics; and SkyDrive Signs LOI with Aeroauto for U.S. eVTOL Sales
Marine: ILO and BIMCO Launch Pilot Injury Scheme for Bangladesh Ship Recycling; ONE Boosts Stake in Seaspan Holding Company; Singapore Offshore Wind Sector Set for Rapid Workforce Growth; Seatrium Secures Contract for FSRU Conversion from Karpowership; and US Treasury Issues One-Month OFAC License Easing Crude Voyages
Space: China Plans Series of Deep-Space Exploration Missions; Dassai Sake Fermented Aboard ISS Returns to Japan; South Korea to Test Domestically Developed Space Technologies on Nuri Launch; Taiwan Mobile and Telkomsel Sign Satellite and HAPS Connectivity Agreements; and Vietnam Inaugurates Space Centre at Hoa Lac Hi-Tech Park
Financing & Investments
Capital deployment in the region is heavily concentrated on enabling infrastructure for AI and digital finance, with cross-border investments and large-scale debt financing playing a central role.
Australia-Singapore
Australia-based hyperscale data center operator AirTrunk has opened a new regional headquarters in Singapore at the Ocean Financial Centre. The office, located in a BCA Green Mark Platinum Super Low Energy building, will house senior executives and teams across design, development, operations, treasury, legal and corporate functions.
💡Since 2016, AirTrunk has committed several billion dollars in direct investment across three Singapore hyperscale data centers with a combined 180MW of information technology load.The company also secured a S$2.25 billion ($1.76 billion) green loan in 2025 to finance its second Singapore facility, SGP2, representing the country’s largest data center loan and green loan at the time.
Australia-Japan
AirTrunk has secured a JP¥191.6 billion ($1.24 billion) green loan to refinance and expand its TOK1 hyperscale data center campus in East Tokyo. The financing, the largest data center deal in Japan, will fund additional capacity at TOK1—scalable to over 300MW—to support growing cloud and artificial intelligence workloads.
💡The loan is structured under AirTrunk’s Green Financing Framework and was led by SMBC, MUFG, Crédit Agricole CIB, and Société Générale, with 12 banks acting as Mandated Lead Arrangers and Bookrunners.
Hong Kong-Vietnam
Hong Kong-based Accelerated Infrastructure Capital will co-develop a $2.1 billion AI data center in Ho Chi Minh City with KinhBac City Development Holding Corporation, a leading industrial real estate developer in Vietnam. The two parties signed a memorandum of understanding with the Ho Chi Minh City Department of Science and Technology, with groundbreaking scheduled for April 30 and capital expected to be fully deployed by the end of the first quarter of 2027.
💡The first phase will feature a 50MW AI facility, equivalent to 28,000 GPUs, providing high-performance computing capacity for clients domestically and internationally.
Malaysia
Bursa Malaysia Securities Berhad has issued a consultation paper seeking public feedback on proposed rule amendments to support the listing and trading of digital currency exchange-traded funds on the exchange. The move follows a revision by Securities Commission Malaysia to its ETF guidelines, which now allow digital currency ETFs to be offered under an enhanced regulatory framework. The products are designed to give investors regulated and transparent exposure to digital currencies through established capital market instruments.
💡The proposed amendments to the Main Market Listing Requirements and Bursa Malaysia Securities directives focus on strengthening disclosure and investor safeguards. Measures include requiring additional material information disclosures for digital currency ETFs in immediate announcements and annual reports, as well as a mandatory risk disclosure statement highlighting key risks that investors must acknowledge before investing.
Malaysia
CUSTA has raised approximately $4.3 million in a Pre-Series A round co-led by Delight Ventures and Global Brain. The funding will support platform development, key talent hiring, and marketing expansion to grow its customer base in Malaysia and Singapore.
💡The company targets the corporate gifting, events, and branding sector, addressing challenges such as unclear pricing, fragmented sourcing, and small-lot production difficulties. CUSTA is also advancing AI-driven operations across customer service, creative production, planning, and logistics to enhance speed, predictability, and scalability.
Singapore
Princeton Digital Group plans to raise up to $5 billion in debt financing to support its expanding hyperscale data center platform across Asia. The company operates in seven markets with a total portfolio exceeding 1.8 GW, and the financing will fund both contracted capacity and new campus development.
💡As part of this plan, PDG closed a $350 million debt tranche, expanding a $400 million HoldCo loan from May 2025 to a total $750 million facility. The consolidated facility has been converted into a sustainability-linked loan, with pricing tied to operational and sustainability performance targets. The $350 million tranche was secured from a consortium of global banks including Barclays, BNP Paribas, Deutsche Bank, HSBC, SMBC, Société Générale, and Standard Chartered.
Singapore
MetaComp Pte. Ltd. has completed its Pre-A+ funding round backed by Alibaba Group, bringing total capital raised to $35 million across two rounds in three months. The financing will support the development of MetaComp’s unified Web2.5 payments and wealth platform, which integrates stablecoin and fiat payment capabilities with securities and real-world asset token wealth management through its licensed affiliate Alpha Ladder Finance Pte. Ltd..
💡The funding round also included Spark Venture and other institutional investors, with 100Summit Partners as exclusive financial adviser. Capital will be used to expand the StableX Network across Asia, the Middle East, Africa, and Latin America, and to develop an Agent-Skills-MCP architecture supporting Web2.5 services.
Singapore
Empyrean Sky Partners has completed a $90 million first close for its $200 million Global Technology Fund, marking the fastest first close of 2026. The fund targets growth-stage companies at the intersection of artificial intelligence, robotics, and advanced manufacturing, aiming to accelerate innovations that enhance industrial productivity and technology deployment. It is co-managed with Lion X Ventures, advised by OCBC, combining ESP’s investment experience with Lion X’s venture network to provide capital, operational support, and global market access for portfolio companies.
💡The fund has also formed a strategic partnership with Dreame Technology, allowing portfolio companies to leverage industrial insights, engineering experience, and commercialization capabilities.
Singapore
KAST has raised $80 million in a Series A funding round co-led by QED Investors and Left Lane Capital, with participation from returning investors including Peak XV Partners, HSG, and DST Global Partners. Founded in July 2024, KAST provides USD-denominated accounts and global pay-in and payout services to more than 190 countries, leveraging stablecoin rails rather than traditional settlement networks. Since launch, the platform has grown to over one million users and processes nearly $5 billion in annualized transaction volume, with projected revenue reaching a $100 million annual run rate in 2026.
💡The funding will support international expansion across Latin America, North America, and the Middle East, as well as product development, compliance, licensing, and headcount growth.
Taiwan
Taiwan-based Cooler Master has invested $200 million in Bac Ninh province, Vietnam, and plans to expand total investment to $3 billion. The initial 10-hectare project in Gia Binh Industrial Park, producing cooling devices for AI servers, data centers, and machine learning systems, began production in July 2025 with 1,300 workers and is expected to grow to 5,000 this year.
💡Bac Ninh is a major foreign investment hub in Vietnam, known for hosting Samsung’s production facilities.
Environmental Sustainability
Sustainability initiatives are moving beyond pilot projects toward structured, cross-border programs and circular economy models that integrate financing, infrastructure, and corporate partnerships.
Australia
New research commissioned by Sydney Airport indicates strong public support in Australia for developing a domestic sustainable aviation fuel (SAF) industry. Australians see SAF production as a way to create regional jobs, support farmers, and retain local resources and manufacturing capacity.
💡Although awareness of SAF is low, support rises to 60% once the concept and benefits are explained.
Global
The International Sustainability and Carbon Certification (ISCC) system has partnered with OMV and Airbus to advance the global SAF ecosystem, focusing on Book and Claim Chain-of-Custody models. The systems let sustainability attributes of SAF be claimed independently of physical fuel delivery, helping overcome infrastructure limits and expand market participation while maintaining credibility and transparency.
💡Under this pilot, Airbus will act as a facilitator in the ISCC Credit Transfer System, enabling transactions between airlines, corporate partners, and fuel producers.
India
Re Sustainability has signed an exclusive memorandum of understanding with Indian Oil Corporation Limited to launch India’s first structured national program for collecting and recycling used lubricating oil. The initiative will establish a dedicated SPV to create a nationwide reverse logistics network, aggregating oil from industrial and automotive sectors and producing Re-Refined Base Oil (RRBO) for reuse in lubricant manufacturing, reducing reliance on virgin crude-derived base oils.
💡The program targets annual collection of 100 KTA of used lubricants and the development of a re-refining facility with 50–100 KTA capacity for Group II+ RRBO. It will also cover the recovery and recycling of plastic lubricant containers under Extended Producer Responsibility regulations
Malaysia
Computility Technology (Malaysia) Sdn Bhd (CTDC), BGMC Energy Holdings Sdn Bhd, and reNIKOLA have signed a strategic term sheet to launch a long-term green energy supply program in Malaysia. Under the agreement, CTDC will power ZDATA’s first AI-focused data center in Gelang Patah using renewable energy from BGMC’s solar farms. Scheduled to begin in 2028, the program is expected to deliver around 630,000 MWh of clean energy annually, supporting Malaysia’s national energy transition and decarbonization of industrial infrastructure.
In addition, CTDC has eliminated its reliance on municipal water for cooling systems by implementing a proprietary water recycling loop, enhancing operational autonomy and reducing local water demand in Johor.
💡Together, the renewable energy initiative and water circularity measures position CTDC and its partners to deliver large-scale, environmentally sustainable digital and industrial infrastructure. All parties are now entering the implementation phase to meet the 2028 operational target.
Singapore-Indonesia
Equator Renewables Asia has raised S$50 million ($39.3 million) to develop large-scale solar, green hydrogen, and sustainable industrial zone projects in Indonesia. Strategic cornerstone investors KPN Corporation and Tsao Pao Chee contributed S$30 million, with the remainder funded by ERA’s management. The company has conditional approval from Singapore’s Energy Market Authority to import up to 400 MW of renewable power from Indonesia, supporting regional decarbonization efforts.
💡ERA’s Indonesian portfolio includes 2.2 GWp of solar photovoltaic capacity, 3.2 GWh of battery energy storage, and green hydrogen production initiatives.
Aviation
The aviation sector is simultaneously navigating significant operational and regulatory challenges, from crew scheduling failures and fuel cost pressures to consumer class actions, while also investing in new technologies and local supply chain capabilities.
Australia
Qantas has agreed to a $105 million settlement in a class action lawsuit over COVID-era flight credits. The case, filed by Echo Law in August 2023 on behalf of hundreds of thousands of customers, alleged that passengers were entitled to cash refunds for flights cancelled between January 2020 and November 2022 but were instead issued restricted flight credits.
💡The settlement allows eligible customers to claim compensation in addition to any existing refund rights. Qantas stated the agreement includes no admission of liability and noted that, since August 2023, it has removed expiry dates on COVID-era flight credits, enabling customers to request cash refunds indefinitely.
Australia
A report from ACL Asia Pacific provides the first detailed analysis of aircraft slot utilisation at Sydney Airport three largest users—Qantas, Virgin, and Jetstar—hold 71% of total slots, recording utilisation rates of 94%, 96%, and 93%, respectively.
Airlines reported that unused slots were mainly due to commercial considerations (32%), operational issues (23%), maintenance or technical problems (20%), crew availability (9%), and weather (8%). Delays were primarily caused by late-arriving aircraft (41%), airline/network operations (11%), and aircraft defects or safety issues (10%).
💡ACL highlighted Sydney Airport as the only airport in its 79-airport global network to release slot utilisation data, reinforcing transparency in slot management. The next update, covering the full winter 2025 season, is expected in May.
Global
The International Air Transport Association (IATA) is rolling out three AI initiatives to boost efficiency, safety, and innovation in air cargo. The first, an AI Subject Matter Expert (AI SME), lets operational teams query IATA publications in plain language, initially covering the Dangerous Goods Regulations (DGR) and Cargo Handling Manual (ICHM).
IATA is also launching the Air Cargo AI Excellence Hub to promote collaboration on governance, compliance, and best practices among airlines, handlers, freight forwarders, technology providers, and regulators.
💡Additionally, the association is exploring AI to improve interline air cargo, helping airlines with different IT systems coordinate bookings, disruptions, and cancellations in real time.
India
IndiGo and its parent InterGlobe Aviation announced that CEO Pieter Elbers has resigned following a major operational failure in December 2025. The disruption, caused by the airline’s inability to adapt crew rosters to new Flight Duty Time Limitation rules, led to the cancellation of roughly 4,500 flights over 10 days and affected more than 300,000 passengers. In the interim, Managing Director Rahul Bhatia will oversee the airline until a permanent CEO is appointed.
💡The Directorate General of Civil Aviation found that Elbers had not acted in time to prevent the scheduling collapse and issued a show cause notice, while the airline was instructed to reduce its schedule by 10% and process outstanding passenger refunds.
India-France
Bharat Forge’s aerospace division has inaugurated a new landing gear components machining facility in Pune, India, in partnership with Liebherr-Aerospace. The facility, equipped with advanced machining centres for high-precision landing gear parts, makes Bharat Forge one of the first Indian companies with OEM-approved capabilities at scale, strengthening India’s role in global aerospace supply chains.
💡The facility complements Bharat Forge’s aerospace portfolio, which includes aero-engine components, airframe structures, and landing gear sub-systems for civil and military aviation. The company is also developing an advanced aerospace ring mill to produce high-value forged rings for engine programmes.
New Zealand
Air New Zealand plans to cancel roughly 1,100 flights through early May 2026, affecting an estimated 44,000 passengers, as it contends with high jet fuel costs amid ongoing Middle East energy disruptions. The cancellations, representing about 5% of the airline’s schedule, will impact both domestic and international routes, excluding New Zealand–United States flights. Passengers will be rebooked on alternative services, with priority given to same-day travel, and cuts will focus on off-peak flights while maintaining regional connectivity.
💡The airline cited soaring fuel prices driven by supply shocks from the US-Israeli conflict with Iran as the key factor behind the reduction.
Advanced Air Mobility
The AAM industry is maturing from technology demonstration toward commercial scalability, marked by profitability milestones, cross-border infrastructure partnerships, and the development of national regulatory strategies and investment targets.
Brazil-Australia
Eve Air Mobility has partnered with Sydney-based Alt Air and Skyports Infrastructure to develop eVTOL operations across New South Wales and Queensland, Australia. The collaboration aims to create a sustainable Urban Air Mobility (UAM) ecosystem using existing airports, operating bases, and new vertiport locations, supporting passenger services, route planning, airspace integration, and ground operations.
💡The network will focus on linking key population centers, commercial districts, and tourism hubs, with early routes including Western Sydney International Airport to downtown Sydney.
China
EHang reported a strong finish to 2025, achieving its first GAAP profitable quarter in Q4 with net income of RMB10.5 million (US$1.5M) and record quarterly revenues of RMB243.8 million (US$34.9M), up 48.4% year-over-year. Adjusted net income (non-GAAP) soared 96.4% YoY to RMB71.5 million (US$10.2M).
The company delivered 100 eVTOL aircraft in the quarter, including 95 EH216-series and five VT35 units, while gross margins remained healthy at 62.1%. Operationally, EHang is preparing to launch commercial EH216-S services in Guangzhou and Hefei in March 2026, following successful internal trials and a landmark cross-province flight over the Qiongzhou Strait, while the VT35 completed its first public demonstration and is advancing through CAAC certification.
💡Management highlighted 2026 priorities including scaling EH216-S commercial operations, advancing VT35 certification, and expanding overseas markets, targeting total revenues of around RMB600 million (~18% YoY growth).
China-Türkiye
EHang has announced a strategic partnership with Türkiye’s leading telecom company, Türk Telekom, and its technology subsidiary Argela, to advance Advanced Air Mobility in Türkiye. Signed at Mobile World Congress 2026, the agreement integrates EHang’s certified EH216-S pilotless eVTOL aircraft with Argela’s Unmanned Traffic Management system and Türk Telekom’s 5G, IoT, cloud, and cybersecurity infrastructure, creating a framework for safe, digitally connected low-altitude operations.
💡The collaboration will support regulatory engagement, validate UTM integration, and accelerate commercial use cases including passenger mobility, aerial tourism, cargo transport, and medical deliveries
India
The World Economic Forum, in partnership with Deloitte, has released a new community paper, Activating Advanced Air Mobility in India: A 10-Step Strategy. The report highlights the potential of eVTOL aircraft and low-altitude technologies to complement existing transport, enhance regional connectivity, reduce congestion, and drive sustainable economic growth. It emphasizes AAM as a nation-building opportunity, focusing on broad societal impact rather than just urban, premium transport solutions.
The paper outlines a structured 10-step strategy covering regulatory alignment, sandbox testing, phased market activation, and infrastructure integration, anchored on five pillars: India-focused use cases, multimodal infrastructure, domestic R&D, safe airspace governance, and sustainable deployment.
💡It proposes a three-phase approach—pilot trials, operational evaluation, and commercialization—with priority actions including regulatory frameworks, vertiport development, public awareness, economic viability, and ecosystem capacity building
Japan
Japan has identified 61 products and technologies as priority investment targets under Prime Minister Sanae Takaichi’s economic strategy to channel public and private capital into 17 strategic sectors. The list includes 27 early-stage technologies such as physical artificial intelligence systems, regenerative medicine, quantum computing, and marine drones.
💡Targets under discussion include capturing over 30% of the global AI robotics market and increasing domestic semiconductor sales to ¥40 trillion ($254 billion) by 2040.
USA-Japan
Japan’s SkyDrive has signed a Letter of Intent with Florida-based Aeroauto Global to establish a U.S. presence and purchase eight SD_05 eVTOL aircraft. Under the agreement, four aircraft are scheduled for delivery in 2028 and four in 2029. SkyDrive has also extended its partnership with SAI Flight from South Carolina to Florida, creating a regional operational network to support Advanced Air Mobility (AAM) infrastructure and deployment.
💡The partnerships aim to integrate eVTOL operations with local governments, airports, and tourism hubs in Florida, leveraging Aeroauto’s infrastructure and SAI Flight’s operational base. SkyDrive plans to use the cluster to facilitate service introduction in 2028 and accelerate adoption of eVTOL transportation across the U.S. Southeast, combining aircraft innovation with regional sales, vertiport development, and collaborative mobility initiatives.
Marine
The marine sector is characterized by strategic financial maneuvers—including stake-building and contract awards—alongside the development of new social and regulatory frameworks for worker protection and risk management in global shipping and energy logistics.
Bangladesh
The International Labour Organization (ILO), in partnership with BIMCO, has launched a pilot Employment Injury Scheme (EIS) to improve protections for workers at ship recycling yards in Bangladesh, the world’s largest ship recycling nation.
The scheme functions as social insurance: by paying $0.5 per light displacement tonnage through a BIMCO letter of intent, ship sellers ensure that workers and their families receive timely compensation for permanent injury or death, aligned with international labour standards. Contributions apply to facilities meeting the Hong Kong International Convention’s safety and environmental standards.
💡Operating voluntarily, the EIS is a temporary measure as Bangladesh transitions from its employer-liability system to a mandatory national, wage-based employment injury insurance scheme, expected in July 2027. The pilot draws on a successful model from Bangladesh’s Ready-Made Garment sector, covering millions of workers.
Singapore
Singapore-based liner Ocean Network Express (ONE) is boosting its stake in Poseidon Acquisition Corp, the holding company of boxship lessor Seaspan, from 28.7% to 48.9%. The move strengthens ONE’s access to long-term vessel supply and aligns with its “ONE 2030” strategy of growth through container shipping investments, building on the 2023 take-private of Seaspan’s parent, Atlas Corp.
💡Meanwhile, Chinese shipbuilder Yangzijiang Shipbuilding is joining Poseidon’s shareholder base, acquiring a 10% stake worth $825.7m from Fairfax Financial and the Washington family, with an additional 5% purchased via its chairman’s private vehicle.
Singapore
Singapore’s offshore wind sector is set for growth, with rising demand for engineers, especially in floater design, as deeper-water projects expand. Floating platforms, now just 1–2% of capacity, could reach 15% in a decade. The Marine and Offshore Energy Industry Plan aims to create 1,000 roles by 2030, focusing on turbine installation, cable-laying, and operations and maintenance positions.
💡Emerging roles include project managers, hydrogen specialists, digital twin engineers, and sustainability officers, while companies like Seatrium recruit for robotics, UX, cybersecurity, and data analytics. Key skills span turbine systems, high-voltage work, carbon accounting, and renewable integration, with training available through SkillsFuture, NTU, Singapore Polytechnic, and the Maritime and Port Authority to prepare the workforce for this sector expansion.
Singapore-Turkiye
Shipyard group Seatrium has secured a contract from Turkiye’s Karpowership to convert a new LNG carrier into a high-capacity FSRU, LNGT Karadeniz, with regasification capacity up to 600 mmscfd. The project, set to start in Q3 2026, includes installing a regasification module, spread-mooring system, and integrating cargo handling, LNG offloading, utilities, electrical distribution, and advanced automation systems.
💡The contract also covers life extension and repairs for three additional LNGCs and integration of four new-generation powerships, with options for two more.
US-Global
The US Treasury has issued a one‑month OFAC wind‑down licence allowing Russian crude already at sea to complete voyages, easing disruptions from the Strait of Hormuz crisis. Valid through April 11, the licence covers routine voyage services—including bunkering, crewing, insurance, and piloting—ensuring cargoes already loaded can legally reach buyers. Brokers estimate India could receive about 65 million barrels previously off‑limits, enough to offset roughly 23 days of lost Middle East crude.
💡Vortexa tracking shows 8 million barrels in transit have been rerouted to India, 49 million lifted pre‑March 5 remain candidates for discharge there, and 7.6 million sit in floating storage in East Asia.
Space
Space activity is diversifying beyond government-led exploration to include commercial experimentation and novel manufacturing, while nations across the region invest in domestic technology verification, infrastructure, and connectivity solutions to build sovereign capabilities.
China
China is planning a series of deep-space exploration missions, according to Sun Zezhou, a National People’s Congress deputy and researcher at the China Aerospace Science and Technology Corporation. The Tianwen-2 mission is currently underway, targeting near-Earth asteroids to collect samples and return them to Earth.
💡Looking ahead, the Tianwen-3 mission is expected to retrieve samples from Mars, while Tianwen-4 will focus on exploring Jupiter. Sun also emphasized that China intends to maintain opportunities for international cooperation, including the potential inclusion of international payloads on future missions.
Japan
Japanese sake producer Asahi Shuzō’s premium brand Dassai has received a fermentation sample brewed aboard the International Space Station (ISS), marking what is believed to be the first attempt to produce sake in space.
The ingredients and brewing equipment were sent to orbit on the HTV-X1 cargo spacecraft launched in October, with the fermentation process carried out in the ISS’s Japanese experimental module with assistance from astronauts. The returned sample arrived in Japan earlier this month for further processing, with the company expecting to extract about 100 ml of sake.
💡Dassai has offered the limited batch through pre-orders priced at about ¥100 million, with proceeds planned for donation to Japan’s space development efforts. The project explores how fermentation behaves in microgravity, as sake production—relying on rice, koji mold, and water—is highly sensitive to environmental conditions.
South Korea
South Korea will test a range of domestically developed space technologies aboard the sixth launch of its Korea Space Launch Vehicle Nuri, scheduled for 2027. 15 devices and components produced by industry, universities and research institutes have been selected to fly on Space Verification Satellite No. 3, a CubeSat platform designed to test hardware in orbit.
💡The payloads include semiconductors, sensors, batteries and other components developed by organisations such as LG Electronics, SK hynix, the Electronics and Telecommunications Research Institute, and Korea University. The mission aims to help Korean technologies gain “space heritage,” a key requirement for adoption in satellites and launch systems, as components used in orbit are strongly preferred due to the difficulty of repairing spacecraft once deployed.
Taiwan
Taiwan Mobile and Telkomsel have signed agreements with aerospace partners to expand connectivity in remote regions using satellite and high-altitude technologies. Taiwan Mobile will collaborate with AST SpaceMobile to develop direct-to-cell services via low-Earth orbit satellites, allowing standard smartphones to connect directly to space-based networks. The system will integrate with Taiwan Mobile’s terrestrial infrastructure to strengthen coverage and improve network resilience during natural disasters.
💡Separately, Telkomsel has partnered with AALTO HAPS, a subsidiary of Airbus, to explore connectivity using the solar-powered Zephyr High Altitude Platform Station. Demonstration flights are planned for 2027, with commercial services targeted from 2028 to help extend connectivity across Indonesia’s remote areas.
Vietnam
Vietnam has inaugurated the Vietnam Space Centre (VNSC) at Hoa Lac Hi-Tech Park in Hanoi, marking a major step in the country’s space development and its cooperation with Japan. Speaking at the Viet Nam–Japan Space Horizons 2026 Forum, Prime Minister Pham Minh Chinh said Vietnam’s space ambitions will focus on innovation, international collaboration and expanding practical applications of satellite technology.
💡Vietnam has gradually expanded its capabilities through projects such as VINASAT-1, VINASAT-2, PicoDragon, MicroDragon, and NanoDragon, while the radar observation satellite LOTUSat-1 is expected to launch by 2027. The new centre, developed with Japanese support and an investment of more than $266 million, will serve as a hub for satellite research, testing, operations and data analysis.
**Nothing in this article is intended to be or should be construed as legal or financial advice.**