Key Takeaways:
Space Network signed a $50 million binding pre-order with HQ Company International Holdings to bring Freeport satellite connectivity to the Philippines.
HQ Company is led by CEO Yongsoo Samuel Cho, grandson-in-law of former Philippine President Fidel V. Ramos.
The agreement stacks on the $100 million deal Space Network signed with Vietnam's DETI Technology in June 2026, bringing total commercial pre-orders to $150 million in just 4 months.
Space Network currently operates 4 LEO satellites and plans to grow to approximately 230 by 2029.
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. 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" .
What Is 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 .
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, Space Network uses permissionless currency, Spacecoin. Satellites within the Space Network price their relay services in Spacecoin. Users pay satellites in Spacecoin to transmit their data. If Space Network used a currency gated by anyone, it could not stay neutral. If it used another currency not optimized for space telecommunications, Space Network could not optimize its performance. Hence why Spacecoin is being built .
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 .
Frequently Asked Questions
What did Space Network and HQ Company sign?
A $50 million binding pre-order agreement for Freeport satellite communication services in the Philippines .
What is Freeport?
A decentralized satellite internet network that allows local operators to lease capacity without launching their own satellites. It operates 4 LEO satellites today and plans to expand to approximately 230 by 2029 .
How does this connect to Spacecoin?
Space Network is the infrastructure company behind Spacecoin, a DePIN project that uses the SPACE token to fund and coordinate the satellite network. Satellites price their relay services in Spacecoin .
What was the Vietnam deal?
A $100 million MOU with DETI Technology signed in June 2026, targeting Vietnamese telecom operators with a three-year exclusivity period .
What's next?
Space Network plans to expand to approximately 230 satellites by 2029, with the Philippines and Vietnam serving as early commercial markets. The company says the Philippines is the second country to commit this year, "and it won't be the last" .
Bottom line: Space Network's Philippines deal brings its total pre-orders to $150 million and marks another step toward commercializing its Freeport satellite network. The company is targeting emerging markets where traditional broadband infrastructure falls short. But the hard parts — spectrum licensing, service rollout, and actual revenue — are still ahead.head.
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