The government plans to expand its space sector fund in order to support domestic space launch vehicle companies in their efforts to compete in the global market. In addition, the government aims to provide assistance to the development and launch of small satellites using private launch vehicles, as well as grant launch licenses to these companies.
This announcement was made during the 29th Ministerial Meeting on Government Affairs, chaired by the Prime Minister on the 21st. The government’s objective is to enhance the innovation capabilities of space launch vehicle companies by encouraging the infusion of technology, manpower, and funds. Furthermore, a focus will be placed on supporting the creation of startup markets, allowing domestic companies to grow independently. To alleviate the burden on these companies, the government plans to establish a launch service infrastructure.
To facilitate the smooth transfer of public space technology to private companies in need, a public-private advisory body will be established. Furthermore, corporate internships will be provided for graduate students, and education and training programs will be offered to current employees. The government also plans to introduce financial support measures, including an expansion of the space fund to 50 billion won by 2027.
In an effort to streamline the management of satellite development requirements across ministries, a system will be implemented to connect domestic satellites and launch vehicles. This will enable the use of private launches for domestic public satellites and international space cooperation projects. Additionally, a new project will be launched to support the development and launch of small satellites using private launch vehicles, creating an environment where companies can take charge of the design and production processes.
Private launch sites currently under construction will be permitted for use by companies even before completion. The government aims to ensure that administrative procedures are efficiently completed through consultation prior to companies applying for a launch license. Standards for calculating damage insurance for space launch vehicles will also be established.
As part of these efforts, the government is considering transitioning from the current license system for each launch to a licensing system. Legislation will also be prepared to support the participation of companies in the space transportation business. All of these initiatives will be incorporated into the ‘3rd space industry development plan’, set to be published this year.
Related articles:
1. “New Measures to Boost Competitiveness of Domestic Space Launch Vehicle Companies Announced”
2. “Government Expands Space Fund to Support Domestic Space Industry Growth”
3. “Smooth Transition of Public Space Technology to Private Companies Planned”
The government is expanding its space sector fund to help domestic space launch vehicle companies advance to the global market. We will also support the development and launch of small satellites using private launch vehicles, and provide launch licenses to launch vehicle companies.
The government announced the ‘Measure to Strengthen the Competitiveness of Domestic Space Launch Vehicle Companies’ with this content at the 29th Ministerial Meeting on Government Affairs held under the chairmanship of the Prime Minister on the 21st.
To increase the innovation capabilities of space launch vehicle companies, we encourage the influx of technology, manpower and funds, and support the creation of start-up markets so that domestic companies can grow on their own. Reduce the burden on companies by building a launch service infrastructure.
Nuri takes off from Naro Space Center on the 25th. (Photo = Ministry of Science and ICT)
A public-private advisory body will be established to facilitate the smooth transfer of public space technology to private companies in need, and corporate internships for graduate students and education and training for incumbents will be provided. Financial support measures will be prepared, such as expanding the space fund to 50 billion won by 2027.
We will connect domestic satellites and launch vehicles by creating a system that integrates the management of satellite development requirements across ministries. It allows domestic public satellites and international space cooperation projects to use private launches. A new small satellite development and launch support project using private launch vehicles will be established to create an environment where companies can pursue design/production on their own.
Related articles
In addition, private launch sites currently under construction are allowed to be used by companies even before completion. We ensure that administrative procedures are completed in a timely manner through consultation before a company applies for a launch licence. We also intend to establish standards for calculating damage insurance for space launch vehicles.
We are also considering changing the current license system for each launch to a licensing system. Legislation will also be prepared to support the participation of companies in the space transportation business. The government intends to reflect these tasks in the ‘3rd space industry development plan’ to be published this year.
#Set #discover #domestic #private #space #launch #vehicle #companies
