South Korea Increases Space Spending

South Korea’s Planning and Budget Ministry has increased its budget for space technology investment to US$101.9 million (128.5 billion won), up 56 per cent from last year. As part of the budget increase, the government is endorsing the development of a second Korean Multi-purpose Satellite (KOMPSAT), a broadcast satellite and a space center. The government has allotted US$51.6 million (65.1bn won) for the KOMPSAT 2 project for this year, 34.5 per cent more than last year. The satellite's launch is scheduled for April 2004.

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