South Korea commits $38 million to support space startups
The South Korean government has now established a space investment fund committed to raising $38 million to support startups in its nascent private space industry.
It will be interesting to see which management companies are selected to operate the fund and how the investment process will work. This initiative can potentially create exciting new opportunities for startups, entrepreneurs, researchers, and other stakeholders in the space industry and position South Korea as a leader in this field.
…The Korean Ministry of Science and ICT plans to invest 5 billion won [$3.8 million] this year to create a fundraising fund. The goal of creating a total fund of more than 50 billion won [$38 million] by 2027 is ambitious and demonstrates the government’s commitment to promoting private investment in the space industry.
It is very unclear what this project entails. Will the government budget the investment capital, or is it establishing a private venture capital investment firm that will in turn seek out the money from the private sector?
Either way, it appears the South Korean government wants to encourage the growth in a private commercial space industry.
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In 2020 when the world panicked over COVID I wrote that the panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Only in the past year have some of our so-called experts in the health field have begun to recognize these facts.
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The South Korean government has now established a space investment fund committed to raising $38 million to support startups in its nascent private space industry.
It will be interesting to see which management companies are selected to operate the fund and how the investment process will work. This initiative can potentially create exciting new opportunities for startups, entrepreneurs, researchers, and other stakeholders in the space industry and position South Korea as a leader in this field.
…The Korean Ministry of Science and ICT plans to invest 5 billion won [$3.8 million] this year to create a fundraising fund. The goal of creating a total fund of more than 50 billion won [$38 million] by 2027 is ambitious and demonstrates the government’s commitment to promoting private investment in the space industry.
It is very unclear what this project entails. Will the government budget the investment capital, or is it establishing a private venture capital investment firm that will in turn seek out the money from the private sector?
Either way, it appears the South Korean government wants to encourage the growth in a private commercial space industry.
Readers!
Please consider supporting my work here at Behind the Black. Your support allows me the freedom and ability to analyze objectively the ongoing renaissance in space, as well as the cultural changes -- for good or ill -- that are happening across America. Fourteen years ago I wrote that SLS and Orion were a bad ideas, a waste of money, would be years behind schedule, and better replaced by commercial private enterprise. Only now does it appear that Washington might finally recognize this reality.
In 2020 when the world panicked over COVID I wrote that the panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Only in the past year have some of our so-called experts in the health field have begun to recognize these facts.
Your help allows me to do this kind of intelligent analysis. I take no advertising or sponsors, so my reporting isn't influenced by donations by established space or drug companies. Instead, I rely entirely on donations and subscriptions from my readers, which gives me the freedom to write what I think, unencumbered by outside influences.
You can support me either by giving a one-time contribution or a regular subscription. There are four ways of doing so:
1. Zelle: This is the only internet method that charges no fees. All you have to do is use the Zelle link at your internet bank and give my name and email address (zimmerman at nasw dot org). What you donate is what I get.
2. Patreon: Go to my website there and pick one of five monthly subscription amounts, or by making a one-time donation.
3. A Paypal Donation or subscription:
4. Donate by check, payable to Robert Zimmerman and mailed to
Behind The Black
c/o Robert Zimmerman
P.O.Box 1262
Cortaro, AZ 85652
You can also support me by buying one of my books, as noted in the boxes interspersed throughout the webpage or shown in the menu above.
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