The Korea AeroSpace Administration's 2027 government budget proposal was set at 1.6491 trillion won, up 529 billion won from this year. It is about a 47% increase compared with this year's 1.1201 trillion won.
The Korea AeroSpace Administration said on the 1st that next year's budget will focus on five areas: launch vehicles and lunar exploration, advanced satellites, future aviation, and the private industrial ecosystem.
The space transportation sector was allocated 562.9 billion won, up 113.8% from this year. It will invest 155 billion won in the Korean launch vehicle advancement project and 291.6 billion won in next-generation launch vehicle development. It also newly set aside 75 billion won for the follow-up project supporting regular launches of the Nuri rocket. The third-phase advancement project to expand facilities and equipment at the Naro Space Center will receive 25.3 billion won.
The lunar exploration budget will nearly triple from 99.8 billion won to 279.4 billion won. It newly allocates 106.3 billion won to develop a small lunar lander aimed at a 2030 lunar landing and technology demonstration, and it sets aside 93.7 billion won for the existing lunar lander development project. It will also newly pursue development of a lunar orbit communication satellite and research on lunar surface mobility technology.
The advanced satellite sector was allocated 264.7 billion won. It will newly invest 28.5 billion won in developing a geostationary environment and ocean satellite, and expand the budget for Multipurpose Practical Satellite No. 8 from 18.8 billion won to 56.5 billion won. Development of the Korea Positioning System (KPS) and low Earth orbit satellite communication technology will also continue.
The budget for the future aviation sector is 56.8 billion won. It will launch new projects to develop Advanced Air Mobility (AAM) breakthrough technologies and inter-drone operation technologies, and invest in electric-turbine hybrid propulsion systems and advanced aircraft engine materials and parts. It will also newly pursue a project to support domestic corporations' entry into the global commercial aircraft supply chain.
Meanwhile, 184.5 billion won was set aside to build the private space and aviation industrial ecosystem. It will maintain 100 billion won for the New Space investment support fund and expand budgets for commercializing space technology through demonstrations, supporting startups and exports, and training specialized personnel.
O Tae-seok, administrator of the Korea AeroSpace Administration, said of next year's budget proposal, "We focused on linking government research and development (R&D) outcomes to the growth of corporations and industrial competitiveness."
Meanwhile, the 2027 budget proposal for the Korea AeroSpace Administration is to be finalized at a plenary session after reviews by the National Assembly standing committee and the Special Committee on Budget & Accounts.