From Samsung¡¯s smartphones to SK Hynix¡¯s semiconductors, South Korean companies have spent decades catching up to ¡ª and in many cases then overtaking ¡ª powerful rivals from the U.S., Japan and other countries.
So far, the country has been an also-ran in the space industry, with weak funding and a few technology flops. But a new wave of government officials like Lee Jong-ho is betting that history could repeat itself.
The country¡¯s minister of science and technologies, Lee oversees a new space agency that was launched Monday with a mission to propel South Korea into the ranks of major space nations. The government is planning to double the current annual space budget by 2027 to 1.5 trillion won ($1.1 billion).
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