The country has allocated 100 trillion won to finance its space ambitions
South Korea is seeking to expand its presence in space, announcing plans to land on Mars by 2045. President Yoon Suk Yeol inaugurated the KASA Aerospace Administration on May 30, ushering in a new era of space exploration for the country.
KASA will oversee space policy, support the aerospace industry and promote specialist training. The country has earmarked 100 trillion won ($72.6 billion) to support its space ambitions by 2045.
South Korea has already made significant strides in space. It launched the Danuri satellite into lunar orbit, providing data for NASA's Artemis program. The country has also developed its own Nuri launch vehicle and plans to make the first robotic landing on the Moon by 2032.
With the creation of KASA, South Korea has joined a growing number of Asian countries seeking to become leading space powers. Last year, India, Japan and China successfully landed on the moon as part of their missions Chandrayaan-3, Slim. and «Chang'e-6» respectively.
South Korea, like other emerging space powers, expects investment in space to lead to innovation and economic growth. The country aims to secure its place in the space race and contribute to expanding human presence beyond Earth.