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South Korea will invest 12 billion won in developing high-performance, liquid-fuel engines by next year as part of its space project, according to the ICT and science ministry.
The country unveiled the "Space Challenge" program in 2020 intending to invest 49.6 billion won until 2028 to secure future space industry technologies and leadership in 2030.
Of the total, the ministry has set aside a budget of 4.5 billion won this year and 7.5 billion won for 2023 to develop a 100-ton liquid-fuel engine.
The project also seeks to develop the next-generation rocket to succeed the Nuri rocket, which was equipped with 75-ton engines.
Nuri, also known as the KSLV-II, is South Korea's first homegrown space launch vehicle that successfully flew to a target altitude of 700 kilometers in October last year.
However, Nun failed to put a dummy satellite into orbit as its third-stage engine burned out sooner than expected.
South Korea plans to launch its first lunar orbiter this year.
