The national space agency has announced its investment plan for this year.

The Korea AeroSpace Administration said Wednesday that it will invest a combined 806-point-four billion won, or about 563-point-three million U.S. dollars, in 44 research and development projects this year.

It is the first annual budget for the agency, which launched in May.

The agency’s budget for 2025 marks a 43-point-three percent increase from the figure for the sector last year. 

Some 147-point-eight billion won will go to projects to advance the country’s space launch vehicles, while more than 150 billion won will be spent to develop next-generation launch vehicles. 

Another 500 million won will be injected into the development of reusable rocket technologies.