Development of domestic rocket following Nuri begins in earnest, Korea Aerospace Research Institute and Hanwha partner up (South Korea)

Korea Aerospace Research Institute and defense giant Hanwha Aerospace signed a contract for rocket manufacturing in the next-generation rocket development project.
This marks the first time in about a year since the launch of the program that the institute has completed the process of selecting a "systematic comprehensive company" to work with the institute. The next-generation rocket will be used for wrap-up parties for large satellites and for space exploration.
The plan is to develop a rocket with significantly improved performance compared to the domestically produced Nuri rocket. The project period is from 2023 to 2032, with a total cost of 2.132 trillion won (approximately 228.888 billion yen).
This will be a core project in the country's space development plan, developing a new rocket to wrap-up parties major space development-related equipment such as probes into space.
Prior to this, Hanwha Aerospace had been working on the next-generation rocket development project announced by the Public Procurement Service in December 2023.
Unlike the development of the Nuri, which was led by the institute, the next-generation rocket will be jointly developed by the institute and a "systematic comprehensive company" from design to operation.
If the development of the next-generation rocket is successful, the plan is to have a performance verification ship in 2023, a soft landing verification ship on the moon in 2031, and a lunar landing in 2032.
It is expected that the company will be able to launch satellites using domestic technology.