President Yoon Suk Yeol on Nov. 28 said, "We will plant Taegeukgi (the Korean national flag) on Mars by 2045, the centennial anniversary of national liberation."

At a ceremony to announce the nation's roadmap for the future space economy at JW Marriott Hotel Seoul, he added, "Korea will develop a projectile engine to reach the moon within five years and land on the moon 10 years later in 2032 to begin mining resources there."

The president announced plans to make the nation a global power in the space economy by 2045 through exploring the moon and Mars; rising as a global power in space technology; developing the domestic space industry; fostering talented personnel in the sector; fulfilling space security; and leading international cooperation.

A national space administration for implementing the roadmap will be opened next year in Sacheon, Gyeongsangnam-do. The budget for development of this sector will be doubled over the next five years with cumulative investment of KRW 10 trillion scheduled by 2045. The president also decided to chair the National Space Committee, the highest policymaking body for Korea's space development.

The Ministry of Science and ICT on the same day launched an internal task force for the agency's foundation and began preparations.

"Through the space economy roadmap, we will go beyond our economic territory on Earth and expand to the moon and Mars," President Yoon said. "To take a giant leap as one of the world's top five space technology powers, we will develop a next-generation projectile more powerful than the Nuri rocket (KSLV-II) and gain technological independence in core components of launch vehicles and satellites."

"In the future, a country with a vision for space can lead the world economy and resolve issues facing humanity," he added. "The dream of becoming a space power is not a distant future but an opportunity and hope for children and youth."

Around 70 domestic companies in space development including Hanwha Aerospace, LIG Nex1 and KT SAT responded to the president's roadmap announcement with a joint statement on achieving a space economy.

Korea.net