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 Aerospace Administration (KASA) is set to request a record-breaking 1.65 trillion won ($1.2 billion) budget for the fiscal year 2027, as it strives to position aerospace as one of the nation's strategic industries. This proposed budget, to be submitted to the National Assembly, marks a substantial 47.2 percent increase from the current year's allocation, and represents the highest sum ever requested since KASA's inception in 2024.
The lion's share of the budget, 562.9 billion won, will be directed towards the development and deployment of projectiles, with a focus on bolstering the homegrown Nuri rocket. This funding represents more than double the amount allocated this year, according to the agency. The Nuri rocket is slated for its fifth launch on October 7, aiming to place 15 satellites into orbit.
In the realm of lunar exploration, KASA is seeking a total of 279.4 billion won, nearly tripling the financial support provided in 2026. These funds will be channeled towards the creation of a lunar orbit communication network, alongside the development of supplementary moon exploration equipment, including small lunar landers. Korea's objective is to achieve an unmanned lunar landing by the year 2030.
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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