Space Agency's budget for next year will increase by 27%... KRW 964.9 billion confirmed

The National Aeronautics and Space Administration's budget for next year has been confirmed at 964.9 billion won.

The Space Agency said it organized the government's plan at KRW 964.9 billion, 27% higher than this year's budget, and submitted it to the National Assembly in September, and it was confirmed as the original plan through a resolution of the National Assembly plenary session.

Next year's budget will spend 310.6 billion won on projects to expand space transport capabilities, such as upgrading Korean-style projectiles and developing next-generation projectiles, and 212.3 billion won on advanced satellite development.

It will also invest 54.3 billion won in the development of lunar landers and participation in the construction of international giant radio telescopes, 40.5 billion won in technology and parts independence projects in the high-tech aviation industry, and 115.3 billion won in securing regional base infrastructure.