Seoul, July 24: The Korea AeroSpace Administration (KASA) on Wednesday said that it will spend 380.8 billion won ( equivalent to $274.8 million) for the next seven years to build three industrial parks for the space industry.

The KASA said that the Budget will be spent to build an industrial complex for space vehicles, Yonhap news agency reported.

The other two industrial parks will be built for development of civilian satellites and training of professionals for the space industry, added KASA.

South Korea aims to land a homegrown spacecraft on the moon in 2032 and Mars in 2045, with massive investments in space exploration.