Space Aviation Agency Launches 'Space Industry Cluster Triangular System Establishment Project'

Announcement of Jeonnam Goheung Launch Vehicle Technology Commercialization Center Project... 9.67 Billion KRW National Funding Invested

The Korea Aerospace Agency (Director Yoon Young-bin) announced on the 11th the launch of a new project call for the first phase of the 380.8 billion KRW 'Space Industry Cluster Triangular System Establishment Project (R&D)', specifically the construction of the 'Launch Vehicle Technology Commercialization Center' within the Launch Vehicle Specialized Zone in Goheung, Jeonnam.

[Image source=Yonhap News]

The Space Industry Cluster Triangular System Establishment Project is aimed at strengthening private-led space development capabilities and creating a self-sustaining ecosystem. From 2024 to 2030, a total budget of 380.8 billion KRW will be invested over seven years into three specialized zones: the Launch Vehicle Specialized Zone in Jeonnam, the Satellite Specialized Zone in Gyeongnam, and the Research and Talent Development Specialized Zone in Daejeon.

The institution selected to build and operate the Launch Vehicle Technology Commercialization Center within the Launch Vehicle Specialized Zone will receive 9.6 billion KRW in funding by 2027. This center will focus on performance evaluation and verification of core components for the space launch vehicle industry ecosystem, as well as establishing a support system for companies.

Director Yoon Young-bin stated, "Through this project, we will secure growth engines for the space industry and significantly contribute to building a sustainable space industry ecosystem. We will continue to cooperate with various stakeholders including the government, local governments, and the private sector to do our best for the growth and development of the space industry."

This content was produced with the assistance of AI translation services.