The Korea Aerospace Agency (Director Yoon Young-bin) announced that it held the kickoff meeting for the first planning project aimed at developing reusable launch vehicles led by the private sector on the 3rd in Daejeon.
The agency had announced its intention to promote the development of reusable launch vehicles at the '1st National Space Committee' meeting held shortly after its inauguration in May last year. Accordingly, the agency plans to actively proceed with core technology development projects and system development exploratory research to concretize the roadmap for reusable launch vehicle development starting this year.
To select a competitive system model, the agency will prepare a planning project that links the mission performance and economic analysis of reusable launch vehicles initiated in 2024 with the selection of system models based on private companies' commercialization models. This project will be promoted under the supervision of the Korea Aerospace Technology Promotion Association.
Seven experts from the government, research institutes, and universities attended the kickoff meeting to discuss public-private partnership strategies for selecting private companies' reusable launch vehicle business models and the direction of the planning project. Furthermore, they agreed to continuously collect various opinions to specify system development plans for private sector-led reusable launch vehicles during the research process.
Park Soon-young, Program Manager of the reusable launch vehicle program at the agency, stated, “To accelerate the development of reusable launch vehicles led by domestic private companies, it is important to discover business systems that align with private companies' business models and incorporate rapid private sector innovation.” He added, “We plan to establish a win-win cooperation strategy based on mutual understanding between the private and public sectors.”
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