The Korea AeroSpace Administration (KASA) plans to invest 806.4 billion won ($562.5 million) in research and development projects in 2024, representing a 43.3% increase in R&D spending. Established in May, KASA aims to position South Korea among the top five nations in aerospace technology. Key investments include 187.4 billion won ($130.5 million) for research at national aerospace institutes, 150.8 billion won ($105 million) for a new rocket, and 45 billion won ($31.3 million) for lunar spacecraft development. KASA is also collaborating with NASA on the Lunar Space Environment Monitor for a 2025 mission, with 7.3 billion won ($5.1 million) allocated to this project. These initiatives reflect South Korea’s commitment to advancing its capabilities in space exploration and technology.
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