South Korea’s successful launch of a domestically-developed rocket on Tuesday has spurred companies’ hopes to capitalize on prospects in the national space program.
More than 300 private companies contributed to the development of the Nuri rocket, also known as Korean Space Launch Vehicle II (KSLV-II), which cost roughly 2 trillion won ($1.5 billion) in total.
South Korea became the seventh country in the world to independently launch a satellite into space, boosting its growing aerospace ambitions and demonstrating its ability to launch spy satellites.
Korea Aerospace Industries (KAI), the national aerospace company, led the companies in developing the Nuri rocket and manufacturing the first-stage fuel tank and oxidizer tanks….
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