South Korea's science and technology ministry is funding a national communications and meteorological satellite in 2003. The estimated $240 million project was approved in 2000, with launch scheduled for 2008. Meanwhile, the country's Koreasat 5 satellite is due for a 2006 launch, carrying military communications transponders for the first time. Koreasat 5 will be built by Alcatel Space, Astrium or Lockheed Martin.
Source: Flight International