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S. Korea's space program budget smaller than other countries: KIEP Updated: 2021-10-22 17:02:27 KST

South Korea allocates a smaller portion of its budget to the space industry than other countries with space programs, such as the U.S. and Japan.
The Korea Institute for Foreign Economic Policy said on Friday that its research showed more economic support for the private sector is required for future space development.
According to the institute South Korea's 2020 space budget was reported as ZERO POINT ZERO FOUR percent of GDP much smaller than the U.S. with ZERO POINT TWO percent.
South Korea's space program budget for last year was around 700 million U.S dollars.
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