Photo : YONHAP News
The government will encourage the private sector to develop small orbital launch vehicles in the new global space era, in a bid to foster a “Korean SpaceX.”
The Ministry of Science and ICT ministry announced on Wednesday its plans to invest 27-point-eight billion won from this year through 2027 to help private companies develop two-stage launch vehicles for the commercial small satellite launch market.
This initiative in particular will be an expansion project using the first stage 75-ton engine originally developed for the Nuri rocket.
The ministry plans to select three private companies by next month and choose a finalist among them to conduct a performance test.
Science Ministry to Invest in Growing Small Orbital Launch Vehicle Market
Source: Matira Matibay
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