South Korea Establishes National Space Agency, KASA

• South Korea has officially launched its space agency, the Korea Aero Space Administration (KASA), to lead policy and industrial development in its aerospace sector. The establishment was made possible after the Country’s national assembly passed a special law in January to unify government organizations in charge of space policy and projects. The new agency is based in Sacheon, South Gyeongsang Province, with an annual budget of 758.9 billion won ($556 million).
• The Korea Aerospace Administration (KASA) will lead the country’s “space economy,” with hundreds of businesses and enterprises working to catapult South Korea into the ranks of the world’s top five space powers, Yoon said.
• “KASA will usher in a new space era by cultivating experts while intensively supporting the aerospace industry ecosystem and fostering challenging and innovative R&D,” Yoon said. The country’s first lunar lander is planned for 2032.
• South Korea became the seventh country to own an indigenous space launch vehicle and satellite development technology with the launch of the Nuri rocket in May last year that put a commercial grade satellite in orbit.

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Published date : 08 Jun 2024 05:17PM