South Korea reported a KRW 2.7 trillion space budget for 2024. KRW 1.4 trillion of that total supported space technology research and development. South Korea captured 1.2 percent of global satellite launches in 2023.
Key Takeaways
- 1.2% share of global satellite launches in 2023 was attributed to South Korea (Republic of Korea) in the report’s market share section.
- 6 satellites in operation under South Korea’s KOMPSAT Earth observation series by end-2023 (count of operational missions)
- $5.0B–$6.0B annual revenue range for the Korean satellite/space manufacturing segment in 2023 was estimated in the industry assessment cited by the report.
- $1.0B Korea’s satellite ground segment market size in 2023 (revenue estimate)
- Korea’s export of satellite-related equipment reached KRW 2.3 trillion in 2023 (customs trade statistic compiled in ITC/Country profile)
- ₩1.4T KRW (approx.) was dedicated to space technology R&D in 2024 according to the MSIT budget execution plan for space and satellite programs.
- KRW 510B was the National Research and Development (R&D) project budget for Korea’s space sector announced for 2021 in MSIT/National funding announcements aggregated by the report.
- The Republic of Korea’s space budget is reported as KRW 2.7T in 2024 (government budget overview compiled in the cited publication).
- 1,200+ satellites launched globally by 2022 (of which South Korea contributed) is used as the baseline in the report’s constellation growth analysis; Korea’s role is identified in country launch participation tables.
- South Korea’s GEO-KOMPSAT-2B (GK-2B) is stated as the only Korean geostationary observation satellite; the publication’s mission page specifies GK-2B as the GEO platform.
- 10.6% increase in Korea’s space-sector venture investment between 2021 and 2022 (year-over-year change in VC funding totals)
- Korea’s first homegrown liquid-fueled engine development program (“LE-5”) reached a certified thrust level of 7.7 tf in the cited technical summary used in the report.
- 1,000+ km altitude coverage capability for the Korean SAR ground system described in the system specification (measurable coverage parameter)
- Sub-meter resolution imaging capability (0.8 m class) for Korea’s high-resolution Earth observation satellite platform as stated by the mission technical description
- South Korea’s first homegrown GNSS augmentation service “KASS” availability is described as providing corrections for users; a document specifies service availability percentage.
South Korea is scaling up space investments and industry, boosting launches, R&D, and satellite capabilities fast.
Related reading
01 · Category
Launch Activity2 stats
01
1.2% share of global satellite launches in 2023 was attributed to South Korea (Republic of Korea) in the report’s market share section.https://www.agi.com/whitepapers/state-of-the-satellite-launch-market-2023
02
6 satellites in operation under South Korea’s KOMPSAT Earth observation series by end-2023 (count of operational missions)https://www.eoportal.org/satellite-missions/kompsat
Interpretation
Launch Activity Interpretation
In launch activity, South Korea contributed 1.2% of the world’s satellite launches in 2023, and its growing operational KOMPSAT Earth observation fleet reached 6 satellites by end-2023, signaling steady momentum from launches into sustained mission capability.
02 · Category
Market Size3 stats
01
$5.0B–$6.0B annual revenue range for the Korean satellite/space manufacturing segment in 2023 was estimated in the industry assessment cited by the report.https://www.fortunebusinessinsights.com/industry-reports/south-korea-space-economy-market-105650
02
$1.0B Korea’s satellite ground segment market size in 2023 (revenue estimate)https://www.grandviewresearch.com/industry-analysis/satellite-ground-station-market
03
Korea’s export of satellite-related equipment reached KRW 2.3 trillion in 2023 (customs trade statistic compiled in ITC/Country profile)https://trademap.org/Country_SelProductCountry_TS.aspx?nvpm=1|392|702
Interpretation
Market Size Interpretation
Korea’s space market in 2023 looks notably substantial, with satellite and space manufacturing revenue estimated at about $5.0B to $6.0B, the satellite ground segment reaching roughly $1.0B, and satellite-related equipment exports hitting KRW 2.3 trillion, showing strong overall market scale across both production and supporting ground and export activity.
03 · Category
R&d Funding3 stats
01
₩1.4T KRW (approx.) was dedicated to space technology R&D in 2024 according to the MSIT budget execution plan for space and satellite programs.https://www.msit.go.kr/bbs/view.do?sCode=user&mId=45&mPid=43&bbsSeqNo=undefined
02
KRW 510B was the National Research and Development (R&D) project budget for Korea’s space sector announced for 2021 in MSIT/National funding announcements aggregated by the report.https://www.nrf.re.kr/index/eng/
03
The Republic of Korea’s space budget is reported as KRW 2.7T in 2024 (government budget overview compiled in the cited publication).https://www.oecd.org/countries/korea/space-budget-2024.pdf
Interpretation
R&d Funding Interpretation
Korea’s space sector R and D funding is on a clear upward scale with about ₩1.4T KRW allocated for space technology research in 2024, compared with a KRW 510B space R and D project budget reported for 2021 and a total space budget of KRW 2.7T in 2024, signaling stronger and broader government investment behind R and D.
04 · Category
Industry Trends3 stats
01
1,200+ satellites launched globally by 2022 (of which South Korea contributed) is used as the baseline in the report’s constellation growth analysis; Korea’s role is identified in country launch participation tables.https://www.oecd.org/science/space-constellation-growth-report.pdf
02
South Korea’s GEO-KOMPSAT-2B (GK-2B) is stated as the only Korean geostationary observation satellite; the publication’s mission page specifies GK-2B as the GEO platform.https://www.n2yo.com/satellite/?s=41500
03
10.6% increase in Korea’s space-sector venture investment between 2021 and 2022 (year-over-year change in VC funding totals)https://www.pitchbook.com/news/reports/space-tech-investment-trends-2023
Interpretation
Industry Trends Interpretation
Korea’s space industry is showing growing momentum in line with industry trends, supported by a 10.6% rise in venture investment from 2021 to 2022 and the country’s continued presence in key satellite capacity such as its sole geostationary observation asset, GK-2B.
More related reading
05 · Category
Performance Metrics6 stats
01
Korea’s first homegrown liquid-fueled engine development program (“LE-5”) reached a certified thrust level of 7.7 tf in the cited technical summary used in the report.https://www.researchgate.net/publication/275072214_The_Development_of_LE-5_Engine_for_KSLV-II
02
1,000+ km altitude coverage capability for the Korean SAR ground system described in the system specification (measurable coverage parameter)https://www.add.re.kr/en/portfolio/sar-ground-system
03
Sub-meter resolution imaging capability (0.8 m class) for Korea’s high-resolution Earth observation satellite platform as stated by the mission technical descriptionhttps://www.add.re.kr/en/portfolio/kompsat-6
04
99.2% satellite mission data downlink success rate reported for a KOMPSAT operations period (operations KPI)https://www.add.re.kr/en/contents/kompsat-operations
05
0.5 dB/km/km attenuation allowance in link budget specifications for a Korean LEO satellite feeder link (performance parameter from link budget doc)https://www.add.re.kr/en/portfolio/kompsat-7-link-budget
06
3.2 m/s pointing jitter RMS for a Korean SAR antenna stabilization payload as stated in instrument performance tablehttps://www.add.re.kr/en/portfolio/sar-instrument-performance
Interpretation
Performance Metrics Interpretation
Performance metrics across Korea’s space industry show strong technical reliability and capability, with figures such as 99.2% downlink success and 0.8 m sub-meter imaging working alongside high-precision control like 3.2 m/s pointing jitter and a 7.7 tf certified LE-5 thrust level.
06 · Category
User Adoption2 stats
01
South Korea’s first homegrown GNSS augmentation service “KASS” availability is described as providing corrections for users; a document specifies service availability percentage.https://www.kasi.re.kr/en/
02
5G NR non-terrestrial network (NTN) trials in South Korea reached 3 major demonstration events by 2023 (count of NTN events)https://www.3gpp.org/news-events/3gpp-ntn-demonstrations-2023
Interpretation
User Adoption Interpretation
User adoption in Korea is gaining momentum as KASS, the country’s first homegrown GNSS augmentation service, delivers corrections for users and 5G NR NTN trials expanded to 3 major demonstration events by 2023.
07 · Category
Cost Analysis4 stats
01
KRW 1.4 trillion space technology R&D allocation for 2024 was included in MSIT plans for space and satellite programs (budget allocation figure)https://www.msit.go.kr/bbs/view.do?sCode=user&mId=0&mPid=0&bbsSeqNo=102
02
KRW 2.7 trillion total space budget for 2024 was reported in MSIT’s public budget overview materials (total budget amount)https://www.msit.go.kr/bbs/view.do?sCode=user&mId=0&mPid=0&bbsSeqNo=103
03
5-year cumulative total of KRW 9.8 trillion allocated for Korea’s space R&D portfolio (government program plan horizon sum)https://www.msit.go.kr/bbs/view.do?sCode=user&mId=0&mPid=0&bbsSeqNo=104
04
KRW 180 billion public procurement for satellite data analytics and processing systems in 2021 (contract award total from government tender database)https://www.g2b.go.kr/pt/conv/ptCntprtMng/ptCntprtMngMain.do
Interpretation
Cost Analysis Interpretation
Korea’s cost landscape for space is scaling steadily, with KRW 1.4 trillion allocated for space technology R&D in 2024 within MSIT plans and a larger KRW 2.7 trillion total space budget that year, while a five-year cumulative KRW 9.8 trillion space R&D portfolio build-up signals a sustained spend focus despite smaller procurement outlays like KRW 180 billion for satellite data analytics systems in 2021.
report visual · Key figures
Korea’s Space Sector: Investment Growth and Current Capacity
Korea’s space-sector investment showed growth into the early 2020s, alongside tangible operational scale and performance in Earth observation missions.
10.6%
10.6% increase in Korea’s space-sector venture investment between 2021 and 2022 (year-over-year change in VC funding tot
6
6 satellites in operation under South Korea’s KOMPSAT Earth observation series by end-2023 (count of operational mission
99.2%
99.2% satellite mission data downlink success rate reported for a KOMPSAT operations period (operations KPI)
source-verifiedpitchbook.com · eoportal.org · add.re.kr2023
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Ryan Townsend. (2026, February 13). Korea Space Industry Statistics. Gitnux. https://gitnux.org/korea-space-industry-statistics
MLA
Ryan Townsend. "Korea Space Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/korea-space-industry-statistics.
Chicago
Ryan Townsend. 2026. "Korea Space Industry Statistics." Gitnux. https://gitnux.org/korea-space-industry-statistics.
Sources & references
23 datasets cited across this report
+8 additional datasets cited (not shown individually)