In a bid to nurture its nascent domestic space sector, South Korea is seeking a 640 billion won ($553 million) annual space budget for 2022. If granted in full, it would amount to a 4 percent increase from this year’s 615 billion won.
Hackers linked to North Korea broke into the network of a South Korean aerospace company last month that holds confidential rocket propulsion technologies developed for the nation’s first indigenous space launch vehicle KSLV-Ⅱ, the state spy agency said July 8.
The chief of South Korea’s space agency has vowed to spin off near-term applications to the private sector and refocus the agency on long-term investments that “won’t pay off until 2050.”
President Moon Jae-in of South Korea has vowed to launch the nation’s first robotic lunar lander on a domestically developed rocket by 2030.
South Korea will spend 615 billion won ($553.1 million) in 2021 on space activities aimed at bolstering its capacity to produce satellites, rockets and other key equipment.