Space Network Signs $50M Binding Pre-Order to Bring Satellite Connectivity to the Philippines Highlights: Space Network signs a $50 million binding pre-order with HQ Company International Holdings to bring Freeport satellite connectivity to the Philippines, pairing its low-Earth orbit (LEO) satellites with HQ Company's local operations. HQ Company is led by CEO Yongsoo Samuel Cho, grandson-in-law of former Philippine President Fidel V. Ramos, whose long-standing local networks and cross-border investment experience anchor the partnership. The agreement stacks on the $100 million deal Space Network signed with Vietnam's DETI Technology in June 2026, bringing its commercial pre-orders to $150 million in just 4 months. The deal is another step toward an open, decentralized satellite internet network, with commercial deployments driving growth in key regions. Space Network has signed a $50 million binding pre-order agreement for its Freeport satellite network services with HQ Company International Holdings, Inc. ("HQ Company") to deliver decentralized satellite communications infrastructure across the Philippines. The official signing ceremony was held at the SKY 31 Convention in Seoul, attended by key executives from both organizations, including Tae Lim Oh, CEO of Space Network, and Yongsoo Samuel Cho, CEO of HQ Company. As the grandson-in-law of the 12th President of the Philippines, Fidel V. Ramos, Mr. Cho has lived in the Philippines for many years, leading cross-border investments and infrastructure enterprises while fostering economic and cultural exchanges between South Korea and the Philippines. "The Philippines has more than 7,000 islands, and reaching all of them has always been the hardest part of building telecom infrastructure here," said Yongsoo Samuel Cho, CEO of HQ Company. "Freeport gives us a satellite network we can build our own services on, designed around what Philippine customers actually need. We're excited to get started." What is Freeport? Freeport is the core of Space Network: the LEO satellite network Space Network builds, launches and operates as the foundation for an open, global connectivity network. Space Network currently operates four LEO satellites and plans to grow the Freeport constellation to approximately 230 by 2029, when commercial services begin. The name comes from trade. A freeport is a zone where goods move under lighter rules, and any trader can use the port without owning it. Freeport brings that idea to connectivity. Telecom operators like HQ Company buy capacity in the regions they serve and run their own services on top of it, without building a constellation of their own. Independently owned satellites and ground stations can also join the network, carry each other's traffic and get paid for it automatically, so every operator that joins adds coverage and capacity the next one can use. Freeport delivers two kinds of service. In space, satellites link to each other by laser, forming a secure optical network that carries data long distances without touching the public internet. On the ground, Ka-band links deliver private connectivity to businesses and governments anywhere on Earth, from remote mines and rigs to national networks. Every Freeport node runs the same in-house software stack: SOLAR (routing): lets the sender choose the path its traffic takes through the network, so control over routing stays with the customer LUMEN (settlement): each hop signs for the data it actually delivered and is paid through on-chain contracts, so operators who have never met can carry each other's traffic without invoices or intermediaries PHOTON (payment): private payments powered by zero-knowledge cryptography, keeping payment details confidential SPONTE: Space Network's universal satellite operating system, which lets spacecraft from any manufacturer join the network To accelerate Freeport's development, Space Network recently appointed Jinmin Chung as VP of Engineering. Chung is a former Executive Vice President at Samsung Electronics, where he headed the Software Innovation Center at Samsung Research and led the telephony, network and connectivity frameworks for the Tizen platform. The partnership Under the $50 million partnership, Space Network will supply the Freeport network access, technical hardware, proprietary software stack and ongoing engineering support. HQ Company will lead local commercial operations, including sales, customer acquisition, spectrum authorizations and regional service execution across the Philippines. The agreement follows Space Network's $100 million deal with Vietnam's DETI Technology, signed in June 2026, and brings its total commercial pre-orders to $150 million. This local operator-centric expansion aligns directly with the vision of Spacecoin, a blockchain project combining LEO satellite hardware with Web3 technology to build an open, decentralized physical infrastructure network (DePIN). The agreement is a concrete commercial deployment of Spacecoin's global connectivity vision in the Philippine telecommunications market. "Samuel's team knows this market in a way we currently don't yet, and that's exactly how Freeport is meant to work," said Tae Lim Oh, CEO of Space Network. "We build the network, and local partners run the service in the markets they know best. The Philippines is the second country to commit this year, and it won't be the last." About Space Network Space Network (Space Telecommunications Inc.) is a satellite communications infrastructure company bridging global connectivity divides through open, decentralized network architectures. The company is developing its next-generation LEO satellite infrastructure, Freeport, targeting satellite backbone services alongside B2B and B2G private network solutions. Learn more: https://spacenetwork.com/ About Spacecoin Spacecoin is a Web3 project combining blockchain protocols with low-Earth orbit (LEO) satellite technology to build an open, decentralized physical infrastructure network (DePIN). By expanding connectivity options in underserved regions, Spacecoin aims to provide universal, borderless and reliable internet access. Learn more: https://spacecoin.org/ About HQ Company HQ Company International Holdings, Inc. is an infrastructure company in the Philippines specializing in solar energy and renewable infrastructure. Dedicated to advancing underserved markets in the Philippines, HQ Company is building and deploying sustainable energy and satellite communication networks across the nation. Led by CEO Yongsoo Samuel Cho, HQ Company draws on extensive local networks and cross-border investment expertise to drive large-scale infrastructure projects. Learn more: https://hqcompanyintl.com/ Reader's note: In order to avoid the confusion between Space Network and Spacecoin, allow us to elaborate. After all, we are working on pretty amazing things, so it helps to understand how our businesses work. Space Network is the neutral layer that lets independently owned satellites, ground stations, and terminals in orbit and on the ground carry each other's traffic — and get paid for it — without anyone's permission. To keep it permissionless, we use permissionless currency, Spacecoin. Satellites within the Space Network price their relay services in Spacecoin. Users pay satellites in Spacecoin to transmit their data. If we use a currency gated by anyone, Space Network cannot stay neutral. If we use another currency not optimized for space telecommunications, Space Network cannot optimize its performance. Hence why we are building Spacecoin. Upward, $SPACE Cadets!