SEOUL, Feb. 29 (Korea Bizwire) – The Korean government has announced that 200 billion won will be invested in space exploration over the next three years. For the first time in Korean history, plans to explore the moon will be established. Through the project, a shuttle that will orbit the moon and a satellite that will execute scientific duties will be designed and developed. An international agreement with NASA will also be inked for technological cooperation.
The Ministry of Science, ICT and Future Planning announced that it has decided to make a push into space exploration. Seeing that space technology and related industries represent new opportunities for growth, the government decided to invest 746.4 billion won in the development of space technology, which is a 19.5 percent increase over last year.
Through the investment, the government is hoping to develop the technology required to launch rockets into space, develop satellites using Korean technology and know how, and pursue projects to explore the moon.
Firstly, 197.8 billion won will be designated for the first space exploration project in Korean history over the next three years. Designing and developing space shuttles, deep space satellite stations and antennas will be the main goals of the project. International agreements for technological cooperation are expected to be inked.
Development of a launch vehicle made solely with Korean technology will be continued. A 75-ton propulsion system that is currently under development will be assembled, with ignition and launch procedures to be developed concurrently. In addition, the rocket’s thrust will be measured in tests. The launch pad at the Naro space center will be improved before a test launch tentatively scheduled for next year.
Through strategic satellite development, the government is hoping to develop technology that can help national security efforts. New technology is expected to help guard against the collision of space objects, and strengthen current response systems to protect national security and space assets. Other systems that will allow for greatly improved surveillance capabilities are also expected to be developed.
The participation of the business sector in space development will be expanded, and strategies to enter the international market to export space products will be implemented.
By Kevin Lee (firstname.lastname@example.org)