South Korea has budgeted $4.26 billion to develop a national satellite launch vehicle capable of carrying 1,000kg (2,200lb) to low Earth orbit by 2010. A previous plan to develop a smaller rocket by 2005 has been shelved. The country will build a $101 million space centre and launch site on the southern coast, capable of launching the country's first satellite on an indigenous booster in 2005. The centre will include an assembly building, launch pad and tracking station.

Source: Flight International