Moon and Mars Ambitions Send South Korean Rocket Stocks Skyward

South Korea’s plan to land on the moon and Mars in a few decades propelled shares of the nation’s rocket-related stocks on Tuesday.

By:BLOOMBERG
| Updated on: Nov 29 2022, 18:57 IST
Korea Aerospace Industries
Korea Aerospace Industries Ltd. surged as much as 5.7% Tuesday. (Bloomberg)

South Korea's plan to land on the moon and Mars in a few decades propelled shares of the nation's rocket-related stocks on Tuesday. 

President Yoon Suk Yeol spelled out the country's space roadmap late Monday with an aim to develop a rocket engine within five years that can fly to the moon and start mining resources in 2032. The country also plans to land on Mars in 2045.

You may be interested in

MobilesTablets Laptops
Apple iPhone 15 Pro Max
  • Black Titanium
  • 8 GB RAM
  • 256 GB Storage
27% OFF
Samsung Galaxy S23 Ultra 5G
  • Green
  • 12 GB RAM
  • 256 GB Storage
Google Pixel 8 Pro
  • Obsidian
  • 12 GB RAM
  • 128 GB Storage
Apple iPhone 15 Plus
  • Black
  • 6 GB RAM
  • 128 GB Storage

Korea Aerospace Industries Ltd. surged as much as 5.7% Tuesday, while Hanwha Aerospace Co. jumped more than 4%, outperforming the benchmark Kospi, which rose less than 1%. LIG Nex1 rose about 3%.

Also read
Looking for a smartphone? To check mobile finder click here.

South Korea also plans to create a government agency next year overseeing space and aeronautics administration. The move comes after Yoon vowed during his presidential campaign to set up a Korean version of the world famous NASA.

Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. For our latest videos, subscribe to our YouTube channel.

First Published Date: 29 Nov, 18:18 IST
Tags:
NEXT ARTICLE BEGINS