S. Korea to invest 615 billion won on space projects this year

South Korea will invest 615 billion won in space projects this year, including 189.7 billion won to launch its first locally built Nuri rocket in October and 322.6 billion won on developing new satellites.

According to the Ministry of Science and ICT, the country will also invest 52.6 billion won on space exploration, which includes its lunar orbiter project that is currently preparing for a launch next year.

The 200-ton Nuri rocket to be launched later this year will have a mock payload, while the launch of another carrying a real satellite is slated for May next year.

In 2013, South Korea sent its 140-ton Naro rocket into space after two failed attempts. However, the main rocket on that launch was Russian-built.

The ministry plans to launch a mid-sized observation next-generation satellite next month in Kazakhstan and is working on developing a new public communications geostationary orbit satellite.