The government says it will provide eleven-and-a-half billion won this year for the development of aerospace technology.

The Ministry of Commerce, Industry and Energy said Thursday that it plans to inject around nine billion won into 22 projects currently being pursued while providing two-point-four billion won for ten new projects.

The ministry said the ten new projects are ones considered to have a high possibility of being commercialized, including a project to develop "control moment" gyros that can be used for multipurpose satellites.

The development of 32 other aerospace products has already been completed following the government's provision of some 58-billion won in financial support for 91 projects since 2000.