2020 Launch
The Ministry of Science, ICT and Future Planning announced on April 8 that it would accelerate the progress of its launch vehicle development project and the transfer of related technology to the industry.
To this end, the Ministry will hold a policy discussion meeting on April 9 with the companies participating in the project. A total of 10 companies are scheduled to attend the meeting, including Doowon Heavy Industry in charge of the development of propellant tanks, Vitzro Tech working on combustors and gas generator prototypes, and Danam Systems to supply electronic systems. They are going to discuss measures for the smooth progress of the second phase of the launch vehicle development project that is slated to continue from August this year to March 2018 with an investment of 802 billion won (US$733 million).
The ministry explained that more than 420 companies have taken part in the launch vehicle development project that started five years ago, and it is trying to expand budget execution so that small and medium enterprises can continue to take a leading role in the project.
During the course of the project, a 75-ton liquid rocket engine is being developed between March 2010 and March 2021 with an investment of 1.9572 trillion won (US$1.7891 billion). Launch vehicles will be produced for tests scheduled for 2019 and 2020, after which a 1.5-ton commercial satellite will be put into low Earth orbit.