Korean Lunar Exploration Program (Danuri / KPLO and successor lunar missions)
South Korea's lunar programme has graduated from one successful orbiter to a funded 530-billion-won soft lander with a signed propulsion contract — and in July 2026 the government pulled a first uncrewed landing forward to 2030 using a privately-led small lander.
Funding & Contract Structure
Total committed: 530.3 billion won phase-2 lander (approved, under contract); 103.3 billion won propulsion subcontract (signed); 444.7 billion won 2030 small lander (proposed, not sanctioned)
Annual run-rate: ~53 billion won/yr for the lunar lander (530.3bn over 10 years)
Procurement vehicle: MIXED — Combination of vehicles across program phases.
Congressional status: Phase-2 lander and propulsion contract are signed and funded; the 2030 small-lander track requires a preliminary feasibility study to pass before it is a sanctioned budget
Beneficiary Breakdown
| Contractor | Role | Share | Ticker |
|---|---|---|---|
| KARI | prime | Lunar lander system design and integration; Danuri operations[0] | private |
| Hanwha Aerospace | sub | Lunar lander propulsion — main landing engine, attitude-control thrusters (103.3bn won, Dec 2025)[0] | private |
Key Milestones
Danuri (KPLO) launched — Korea's first lunar mission
KASA-KARI phase-2 lander agreement, ~530.3bn won / 10 years (30 Oct)
Hanwha Aerospace signs 103.3bn won propulsion contract with KARI
National roadmap approved (3 July): uncrewed landing pulled forward to 2030 via public-private small lander
Indigenous lunar lander launch
Catalysts
| Date | Event | Sentiment |
|---|---|---|
| Hanwha propulsion contract signed — the lander moves from programme document to hardware development[0] | bullish | |
| Government approves a roadmap accelerating an uncrewed landing to 2030[1] | bullish |
Risk Register
Competitive Landscape
Sources
- [0] KASA — Danuri Mission Extended by Two More Years Until 2027 (Agency budget doc, accessed )
- [1] Korea JoongAng Daily — Korea speeds up lunar lander plan (GAO / CRS report, accessed )