Space Company Sees Market Cap Surge of 1 Trillion Won with Government Contract

Planet Labs PBC (NYSE: PL), an Earth‐observation satellite operator, surged 8.5% on the New York Stock Exchange on January 27, closing at $28.05 (approximately KRW 36,000). Trading volume jumped well above its norm, driving the company’s market capitalization to about $8.2 billion (roughly KRW 11 trillion). Rather than losing value, the stock added some $760 million (around KRW 1 trillion) in a single day.

The rally followed news that Planet Labs signed a national‐level enterprise agreement with the Slovenian government. Under the deal, the company will supply satellite data to support applications in agriculture, urban planning and disaster management—an indication that it may secure further large government and public‐sector contracts.

Planet Labs operates hundreds of small satellites to image the entire globe, offering subscription‐based data and analytics services. In fiscal 2026’s third quarter, its revenue grew more than 30% year‐over‐year and its backlog exceeded $700 million. With rising defense and intelligence demand and strong AI‐driven analytic capabilities, investors anticipate both robust growth and improved profitability.