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Space. South Korea seeks $553 million space budget for 2022 (Brian Berger, Space News)

In a bid to nurture its nascent domestic space sector, South Korea is seeking a 640 billion won ($553 million) annual space budget for 2022. If granted in full, it would amount to a 4 percent increase from this year’s 615 billion won.

The government’s budget request will go through a parliamentary review to get approval by the end of the year, with the nation’s new budget year beginning Jan. 1.

South Korea seeks $553 million space budget for 2022 – SpaceNews