South Korea to Build Three Space Industry Parks with $274.8 Million Investment

The Korea Aerospace Administration (KASA) has announced an investment of 380.8 billion won (approximately $274.8 million) over the next seven years to develop three dedicated industrial parks for the space sector. This funding will be allocated to constructing a specialized industrial complex focused on space vehicles alongside two additional parks aimed at advancing civilian satellite technology and training professionals in the space industry.

These initiatives are part of KASA’s broader strategy to enhance South Korea’s capabilities in space exploration and technology. The new facilities are expected to support the growth of the domestic space industry, driving innovation and fostering expertise in key areas of space development.

The remaining two industrial parks will focus on the development of civilian satellites and the training of industry professionals. These projects are part of South Korea’s broader vision to advance its space capabilities. The country has set ambitious goals, including landing a domestically developed spacecraft on the moon by 2032 and reaching Mars by 2045.

With this investment, South Korea plans to become a major player in space exploration. The establishment of these industrial parks is expected to contribute to the nation’s space programs, supporting both technological innovation and the growth of a skilled workforce.

In addition to the industrial park projects, South Korea’s new national space agency, the Korea Aerospace Administration (KASA), is focusing on developing small reusable rockets in partnership with the private sector. The initiative aims to enhance the country’s space capabilities and secure a prominent position among the top five global space powers.

Rho Kyung-won, deputy chief of KASA, confirmed in a recent press briefing that the agency plans to delegate the development of these reusable rockets to private firms. This move aligns with South Korea’s broader goal of exploring stable Lagrange points and advancing its space technology.

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