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Where Minds Meet to Launch Space Economy Association Off the Ground
Spacebiz in Hong Kong – a golden opportunity for Professional Services and STEM
HONG KONG SAR – Media OutReach Newswire – 29 June 2026 – Space Economy Association (Hong Kong) Ltd, or “SEA”, officially formed in the midst of the space economy boom. It is an independent membership-based non-government organisation dedicated to connecting and facilitating space-related industries, businesses, investors, educators, experts, and governments worldwide in their pursuit for businesses and technology in commercial space. SEA helps establish Hong Kong as a super-connector hub in the international space ecosystem by capitalising on our professional services, led by finance.
The new renaissance is in the space economy. The US$630 billion global space economy is set to triple to US$1.8 trillion[1] by 2035. With launch costs dropping 10-fold in the last 20 years, private and public sectors will soar with all humanity set to benefit. Space economy is ubiquitous and creating value beyond rocketry and satellites, everyone will flourish as the space economy grows 9% per annum. China is the world’s second largest player in space, highlighting it as one of the four emerging strategic industries in its 15th National Five-Year Plan. Its commercial space sector has already launched 81 rockets and 336 satellites into orbit, with over 100 space start-ups and companies raising around US$6.5 billion. Hong Kong, as a key international financial centre practicing Common Law with international arbitration system and robust insurance, data and intellectual property protection capabilities, uniquely stands to serve China and other countries to pursue capital, business, technology and talent in commercial space.
“From Hong Kong’s perspective, the NewSpace economy is not simply about rockets or satellites; it is about the commercial possibilities they create for our professional services community. As the nation advances its aerospace ambitions, Hong Kong’s strengths in finance, insurance, law and related fields equip the city to support activities ranging from project financing and initial public offerings to risk management and crossborder transactions. Our bankers, insurers, accountants and lawyers are ideally positioned to help turn space initiatives into viable enterprises — and to participate directly in the value they generate.” said the Honourable Bernard Charnwut Chan, GBM, GBS, JP. Patron of SEA.
“Hong Kong’s top-class professional services would facilitate the processes from research and innovation to startup, scale-up and successful space business. Besides a hub for IPOs, Hong Kong offers funding from seed and angel, to private equity, venture capital, mergers and acquisitions, in debt, equity, and lease financing. This space economy would contribute plentiful job and business opportunities to become a key pillar of Hong Kong in terms of economy and quality opportunities for our young generation,” said Professor Richard Leung, Chairman of SEA. “SEA’s global network of partners grows beyond Asia, North America and Europe to include the UNOOSA ecosystem. SEA is a platform that empowers astropreneurs to launch towards humanity’s collective space dream.”
SEA is governed by a Board of 19 members and supported by nine committees. SEA is also strongly supported by a Patron and five Fellows who share the vision to position Hong Kong as a leading hub in the international space economy. The Honourable Bernard Charnwut Chan, GBM, GBS, JP is SEA’s Patron with Fellows Dr. Anthony Neoh, KC, SC, JP, Chairman, Asian Academy of International Law, Prof. Jin-Guang Teng, BBS, JP, President, The Hong Kong Polytechnic University, Mr. Jimmy Tsang, General Manager, Goldlion, Mr. Roger Tong, Chief Executive Officer, AsiaSat, and Prof. Gregg Li, Adjunct Professor at the Laboratory for Space Research, The University of Hong Kong.
As this new economy requires education first, SEA began as the Orion Astropreneur Space Academy or OASA, with an aim to herald and teach this new economy. OASA was formed in 2020 to accelerate the awakening of young executives and professionals through action-learning and Artificial Intelligence, preparing them for the NewSpace economy. OASA has made important strides in advancing NewSpace awareness, talent development, and ecosystem building. It has engaged more than 200,000 visits, worked with over 50 partner organisations, and organised more than 60 courses and activities. As OASA evolves into SEA, the OASA remains the brand for school development programmes and youth-focused education.
SEA membership is a community of 100 co-founders, 150+ active members, 250+ student members, and 40+ industry partners shaping the future of NewSpace in the Greater Bay Area. Members connect with leading innovators, world-class institutions, global mentors, and industry leaders at the forefront of the commercial space. SEA provides a trusted platform for dialogue, collaboration, and engagement through events and direct connections. Members can access closed-door industry dialogues, international delegations, early opportunities for partnerships, and connect with an internationally respected network.
SEA’s membership framework has full, associate, and fellow membership options to serve this diverse community. All members benefit from preferential event rates, networking opportunities, curated market intelligence, professional development, and selected business support services. Full Members enjoy governance rights at general meetings, while higher-tier and charter members receive additional recognition and priority access.
Hashtag: #SpaceEconomyAssociation #SEA
The issuer is solely responsible for the content of this announcement.
About Space Economy Association (Hong Kong) Ltd
Space Economy Association (Hong Kong) Ltd (SEA) is an independent, membership-based NGO dedicated to connecting and facilitating space-related industries, businesses, investors, educators, experts, and governments worldwide in their pursuit of commercial space business and technology. SEA aims to help establish Hong Kong as a super-connector hub within the international space ecosystem by capitalising on its strengths in professional services, led by finance. SEA’s membership comprises a community of 100 co-founders, over 150 active members, more than 250 student members, and 40+ industry partners, all contributing to shaping the future of NewSpace in the Greater Bay Area. Members benefit from access to closed-door industry dialogues, international delegations, early partnership opportunities, and connections with a respected global network, including the UNOOSA ecosystem. SEA’s growing global network of partners spans Asia, North America, and Europe.
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CG Capital, the Leader in Branded Residences in Thailand, Marks Milestone Success for InterContinental Residences Bangkok Asoke Amid Global Economic Uncertainty
Reaffirming Thailand’s status as a world destination for the luxury residences market
Mr. Phoom Chirathivat, Managing Partner and Co-Founder of CG Capital, said that despite a difficult global economic backdrop, marked by slowing markets, geopolitical conflict, and volatility in traditional capital markets, CG Capital sees Thailand’s luxury real estate market moving in the opposite direction. Driving this is a major shift in the behaviour of the world’s wealthiest individuals: a wave of global wealth migration. Data from Henley & Partners shows the number of high-net-worth individuals (HNWIs) relocating globally has surged from 51,000 in 2013 to 142,000 in 2025, a 178% increase over 12 years.
“Global markets are slowing down, but Thailand is holding its position as a world destination. Demand from HNWI buyers, both Thai and international, hasn’t dropped off. If anything, these buyers have become more selective about the assets they choose. That tracks with what we’re seeing from Thailand’s Board of Investment, which has approved Long-Term Resident visas for more than 6,000 wealthy global citizens since 2022. Thailand isn’t just a tourism destination anymore. It’s become a place HNWIs choose for long-term residence and investment,” said Mr. Phoom.
Claiming the Asian Crown: The “Right Brand, Right Partners, Right Product” Strategy
Rising demand for high-end residences has pushed CG Capital’s investment strategy toward branded residences, the fastest-growing segment of the market. Thailand currently holds the largest market share of branded residences in Asia at 23.3% of the region’s USD 26.6 billion total market value, ahead of the Philippines (17.3%) and South Korea (11.6%). CBRE’s Global Branded Residences report ranks Thailand 4th in the world by number of projects, with Bangkok and Phuket sitting among the world’s top 10.
Mr. Phoom Chirathivat added:”The success of InterContinental Residences Bangkok Asoke comes down to understanding global trends. What sets us apart is ‘Right Brand, Right Partners, Right Product,’ paired with Bangkok’s best location, Sukhumvit. We’re not chasing a trend. We’re reading the market and building on the long-term confidence we have in this country.”
From Private Equity DNA to World-Class Product Development
What sets CG Capital apart, as the largest private equity fund manager in Thailand’s real estate and hospitality sector, is the way it applies institutional investment thinking to every part of development. Long-term asset value gets weighed through two lenses at once: capital appreciation and living experience.
CG Capital’s Next Steps and the Official Sales Gallery Launch
Looking ahead, Mr. Phoom said CG Capital will keep pursuing new investment opportunities in the hospitality segment, setting new standards for Thailand’s real estate industry. “Reservations above 60% so far are a clear vote of confidence in CG Capital. Now that the sales gallery is open to the public, we’re confident the design and craftsmanship on display will help the project move quickly toward its sales target, further cementing CG Capital’s position as Thailand’s leading branded residences developer,” he said.
InterContinental Residences Bangkok Asoke welcomes visitors to view show units at the sales gallery from 4–5 July onward. Interested parties may schedule an exclusive private appointment via https://residencesasoke.com/
or Tel: 092-989-2616
Expanding the Reach: Bringing the Project to International Buyers
Alongside the sales gallery opening in Bangkok, CG Capital continues to take InterContinental Residences Bangkok Asoke directly to international buyers. The project will next be featured at “Thailand: A New Chapter Begins,” an exclusive showcase hosted by CBRE Thailand in collaboration with Taiwan Sotheby’s International Realty in Taipei on 3 – 4 July 2026, from 1:30 p.m. – 5:00 p.m. at W Taipei (Strategy Room 1).
Taiwan is a market CG Capital sees as a promising source of long-term residence demand. According to CBRE Thailand and Real Estate Information Center (REIC), Taiwanese buyers now rank as the fourth-largest group of foreign buyers in Thai property market, with transaction value growing an average of 27% a year between 2023 and 2025. Thailand’s appeal to this group comes down to geographic proximity, competitive entry pricing, and a lifestyle suited to long-stay living.
For CG Capital, the event is also a chance to read first-hand how Taiwanese HNWIs are thinking about long-term residence and investment in Thailand. Interested parties in Taiwan may get in touch, please contact Taiwan Sotheby’s International Realty 0800.887.288 (Taiwan) or CBRE Thailand +66(0) 81 742 6624 (Thailand).
Hashtag: #CGCapital #InterContinentalResidencesBangkokAsoke
https://centralgroupcapital.com/
https://www.facebook.com/Centralgroupcapital/
The issuer is solely responsible for the content of this announcement.
About CG Capital
CG Capital Advisory Limited manages private equity investments for blue-chip domestic and international institutional and UHNW investors with an inaugural fund size of THB 10 billion, investing primarily in Thailand’s hospitality, tourism, and real estate sectors through greenfield, brownfield, and turnaround strategies. Its diversified portfolio includes hotels, branded residences, condominiums, amusement and water parks, and mixed-use developments, focusing on Thailand’s leading travel destinations such as Bangkok, Phuket, Koh Samui, and Pattaya.
Led by Mr. Phoom Chirathivat, Managing Partner and Co-Founder of CG Capital, the firm combines deep expertise in investment and hospitality with a strong conviction in Thailand’s tourism potential—particularly within the luxury and lifestyle segments.
Legal disclaimer
Sixteen Residences Limited, being the current owner and developer of InterContinental Residences Bangkok Asoke, is solely responsible for the development, marketing, and sale of the Units. The Units are not owned, developed or sold by InterContinental Hotels Group PLC or its affiliates (collectively “IHG”). There exists no joint venture, partnership, ownership or similar relationship between Sixteen Residences Limited and IHG. IHG is not responsible for the content presented in this press release.
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World’s First Commercial Multimodal LLM for Cultural Tourism Enters Broad Application
Xi’an is one of China’s oldest cities and one of its most popular international tourist destinations. Shaanxi Culture Industry Investment Group (SCG) is working with partners like Huawei, China Telecom Shaanxi, and China West Airport Group (CWAG) to promote cultural tourism using digital technologies including AI and 5G-A.For example, BoGuan is used to support a new AI travel companion agent that had been made available to over 4 million users by March of this year.
In September 2025, SCG and Huawei unveiled the BoGuan Large Model, the world’s first commercial multimodal LLM for cultural tourism. It is also China’s first industry-specific model dedicated to the preservation of cultural heritage. This model is built on intelligent computing infrastructure and a high-quality dataset. The dataset has over 1.2 PB of data, including 31 million images, 4.4 million minutes of video footage, 2.18 million minutes of audio recordings, 510 3D models, and 960 million pieces of structured text.
BoGuan can generate highly-accurate multimodal content, such as museum-quality content about cultural relics. This allows it to support the creation of new digital relic presentations, the digitalization and preservation of traditional craftsmanship, and the creation of digital IP for intangible cultural heritage. Zhang Beiyuan, a dough sculpture artisan, said, “With this model, I can complete a dough sculpture that used to take two or three months in less than a week.” BoGuan is also used to create digital IP like the popular cartoon character Tang Biaobiao, which is designed by integrating local cultural heritage elements with the stone carvings of the Six Steeds of Zhao Mausoleum. The sales of related digital collectibles and creative products have exceeded CNY2 million.
In addition to supporting cultural heritage preservation, BoGuan has been used to develop a range of cultural tourism apps, such as AI photography and AI travel companion agent. Visitors can directly talk with this agent on the GO-SHAANXI app to create and adjust travel itineraries and get real-time performance recommendations at attractions. The Zhiying Camera mini program provides paid services that instantly integrate user photos with AI-generated scenes from history, allowing visitors to “travel back to ancient times.” These new consumption options unlock the business value of quality cultural tourism data. Furthermore, SCG is using BoGuan to integrate short drama production with cultural tourism and improve production efficiency and quality in Xi’an, a renowned short drama hub.
Additionally, China Telecom Shaanxi and Huawei have deployed a 5G-A network based on three component carrier aggregation (3CC) technology at Xi’an’s Grand Tang Mall, a popular tourist attraction. The network delivers peak uplink and downlink rates of 600 Mbps and 3.5 Gbps, respectively, about 10 times faster than common 5G networks. During the 2026 May Day holiday, this network supported concurrent access for 23,000 users, guaranteeing smooth video watching and social media experiences. Furthermore, 5G-A-powered HD live streaming at the Grand Tang Mall has become an important way for the attraction to bring in new visitors. According to public data, the average user dwell time of these live streams has nearly doubled and the average transaction value has increased by 62%.
Edric Chu, General Manager of Huawei’s Shaanxi Rep Office, said, “Artificial intelligence is not simply a stack of technologies. It has become a key enabler that can activate thousands of years of cultural heritage, reshape travel experiences, and inject new momentum into the industry. Moving forward, Huawei will continue working with our partners to enhance cultural heritage preservation with digital and intelligent technologies, and stimulate development within the cultural tourism industry.”
Hashtag: #Huawei
The issuer is solely responsible for the content of this announcement.
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