KASA seeks record budget for 2027 to nurture space as strategic industry
Korea's space agency said Tuesday it will seek a 1.65 trillion-won ($1.2 billion) budget next year, as part of its effort to nurture aerospace as one of the country's strategic industries. The 2027 budget proposal to be submitted to the National Assembly is a 47.2 percent increase from the budget this year, the highest since the agency was established in 2024, according to the Korea AeroSpace…
The Korea Space Administration (KASA) is seeking a record budget of 1.65 trillion won ($1.2 billion) for 2027, aimed at bolstering aerospace as one of the nation's strategic industries. This proposed budget, to be submitted to the National Assembly, marks a 47.2 percent increase from this year's allocation and represents the largest sum since the agency's inception in 2024.
A significant portion of the funds, totaling 562.9 billion won, will be dedicated to projectile development, with a particular focus on supporting regular launches of the domestically-built Nuri rocket. This amount is more than double the budget allocated for projectiles in the current year. The Nuri rocket is set to embark on its fifth launch on October 7, with the mission to deploy 15 satellites into orbit.
In lunar exploration endeavors, KASA has earmarked a total of 279.4 billion won, nearly a threefold increase from the 2026 allocation. This financial support will be channeled towards the creation of a lunar orbit communication network and the development of smaller lunar landers, among other essential equipment for lunar exploration. Korea has set its sights on achieving an uncrewed lunar landing by the year 2030, with KASA playing a pivotal role in realizing this ambitious goal.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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