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South Korea creates “its own SpaceX” to launch satellites

The Ministry of Science and Information and Communication Technologies of the Republic of Korea has launched a program of financial support for private space companies. The project budget will be $22.5 million, which will be received by the most promising missile developer.

Aerospace Research Institute in Daejeon, South Korea
Aerospace Research Institute in Daejeon, South Korea
“The funds will be used to support private companies in the creation of a two-stage light-class launch vehicle, the developers will be transferred to the relevant technologies,” the department notes.

It is reported that the ministry will select the three most promising companies, one of which, following the results of the competition, will design the rocket itself and its engine. As a result of the project, the country’s government intends to create a local analogue of the American SpaceX to launch satellites and other cargo into space.

In October last year, South Korea already successfully launched its own Nuri rocket, but at the final stage of testing it failed to launch a 1.5-ton satellite model into orbit. In May 2022, a re-flight of the same carrier is planned, but with a 200-kilogram payload on board.

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