The Korea Aerospace Research Institute announced that it has allocated a budget of 9.649 trillion won for next year, an increase of 2.051 trillion won from this year.
The institute explained that it will focus its investments on five areas for next year’s budget, including expanding space transportation capabilities, innovation in economic efficiency, advanced satellite development, full-scale development of lunar landers, and participation in the construction of an international giant radio telescope.
The budget increase is mainly due to new investments in the development of precursor technologies for economically efficient launches, the advancement of Korea’s indigenous launch vehicle for the repeated launch of the Nuriho satellite, and the development of next-generation launch vehicles for sending lunar landers.
However, the budget for the aerospace industry sector has decreased to 405 billion won, a reduction of 207 billion won from this year, as many projects in this field are ending this year.