About This Source - Bloomberg QuickTake: Now
Bloomberg L.P. is a privately held financial, software, data, and media company headquartered in Midtown Manhattan, New York City.
It was founded by Michael Bloomberg in 1981, with the help of Thomas Secunda, Duncan MacMillan, Charles Zegar, and a 12% ownership investment by Merrill Lynch.
Recent from Bloomberg QuickTake: Now:
Bloomberg Quicktake: Now published this video item, entitled “6G And Moon: South Korea’s Space Program Set for Major Boost” – below is their description.
South Korea’s space program is set for a major boost with new satellites to keep it at the forefront of the 6G communications competition and more eyes in the sky for national security purposes, the science minister said.
Lim Hye-sook said this means launching multitasking satellites on home-grown rockets like the country’s Nuri rocket, and eventually a mission to the moon. “Space exploration will be the platform for new businesses,” Lim said.
South Korea saw limits removed on its rocket development earlier this year when the U.S. lifted restrictions in a bilateral agreement, which could help the country build more powerful rocket engines and quickly play catch-up in the commercial space business. U.S. President Joe Biden and President Moon Jae-in ended bilateral missile guideline in May that had long restricted Seoul’s development of missiles to under the range of 800 kilometers (500 miles).
One big test comes in October when South Korea plans to launch its three-stage Nuri rocket, a $1.8 billion project designed to put a 1.5-ton satellite into a orbit about 600 to 800 kms above the Earth. It would be a major advancement over its two-stage Naro space vehicle built with domestic and Russian technology that was hit by delays and two failed launches before a successful flight in 2013 — carrying a 100-kilogram (220-pound) research satellite.
The country is also planning to build its own satellite navigation system, as well as a 6G communications satellite network, Lim said, adding it plans to send a spaceship to the moon by 2030. South Korea has been aiming to send a probe there for more than a decade, and in May it joined NASA’s Artemis program, which plans to return humans to the lunar surface.Bloomberg Quicktake: Now YouTube Channel
Got a comment? Leave your thoughts in the comments section, below. Please note comments are moderated before publication.
In This Story: Joe Biden
Joe Biden is an American politician serving as the 46th and current president of the United States. A member of the Democratic Party, he served as the 47th vice president from 2009 to 2017 under Barack Obama and represented Delaware in the United States Senate from 1973 to 2009.
He is married to Dr Jill Biden.