[Korea.net News, Science / Tech, January 17 2008] Space industry to get 316 bil. won in funding

More than 316 billion won of government funds this year will go into the development of the Korean space industry.

The Science and Technology Ministry said Wednesday (Jan. 16) that it will allocate 316.4 billion won ($402 million) for space projects this year, including satellite development, space center construction, and development and launch of space vehicles.

The ministry said the funding is part of efforts to raise the domestic space industry to a new level, as Seoul seeks to end its reliance on other countries and keep pace with global advances.