President Yoon Suk Yeol said Thursday that South Korea will push for a space project to send a space exploration vehicle to the moon by 2032 and plant a national flag on Mars by 2045.

Yoon unveiled the plan to invest 100 trillion won (US$72.5 billion) by 2045 during the opening ceremony of the nation’s new space agency, the Korea AeroSpace Administration, in Sacheon, about 300 kilometers south of Seoul.

“We will land our space exploration vehicle on the moon in 2032 and plant the Taegeukgi on Mars in 2045,” Yoon said in his opening remarks, referring to the name of the national flag.

Yoon pledged to increase the budget and investment in the space and aerospace industries to enhance their competitiveness.

“We will expand the related budget to over 1.5 trillion won by 2027 and attract about 100 trillion won in investment by 2045,” he said.

Source: Yonhap News Agency