Korean Satellite Navigation System Development to Receive 3.7 Trillion Won Investment
Published2022.07.19 08:47The government will invest a total of 3,723.5 billion won through 2035 for the development of Korea's satellite navigation system in the space economy era.
The Ministry of Science and ICT (Minister Lee Jong-ho) held a launching ceremony for the Korean Positioning System Development Project Headquarters on the 18th at the Korea Aerospace Research Institute (President Lee Sang-ryul).
At the launching ceremony held that day, Minister Lee Jong-ho of the Ministry of Science and ICT and others attended to unveil the signboard and observe the research facilities.
The Korean Positioning System (KPS) development project is a project to develop and construct a satellite navigation system to provide ultra-precise position, navigation, and timing information to regions near the Korean Peninsula.
Position, navigation, and timing information provided by satellite navigation systems are essential elements in operating national critical infrastructure such as transportation, communications, and finance, and demand for ultra-precise position, navigation, and timing information is rapidly increasing in emerging industries such as autonomous vehicles and urban air mobility in recent years.
Accordingly, the government plans to invest a total of 3,723.5 billion won over 14 years from 2022 to 2035 to develop the KPS satellite system, ground system, and user system, and to deploy a total of 8 satellites in orbit.
In particular, Korea has developed earth observation satellites multiple times, but this is the first attempt at developing a navigation satellite. Through the joint statement of the Korea-U.S. summit, the government has agreed to cooperate with the United States, which has the most abundant technology and experience in the satellite navigation field.
As the largest-scale space development project ever, the KPS is expected to greatly contribute to the revitalization of the private space industry, as well as improve the accuracy of smartphones and navigation systems so that all citizens can experience its benefits.
Furthermore, by providing meter-level and centimeter-level services that are far more accurate than existing satellite navigation systems and contributing to the fostering of emerging industries such as autonomous vehicles and urban air mobility, it is expected to establish itself as a core infrastructure of the future space economy era.
The Korean Positioning System Development Project Headquarters is an independent project headquarters established within the Korea Aerospace Research Institute and oversees the overall research and development of the Korean Positioning System.
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