Science and Technology Minister Oh Myung approved a plan to join a satellite- based navigation system project led by the European Union, in a bid to reduce its reliance on the United States’ GPS. The 3.4 billion euro Galileo project is expected to rival the GPS navigation system. South Korea will likely pay at least 5 million euros, or about 6.7 billion won, to participate in the project, the ministry said. If all goes as scheduled, a formal agreement will be sealed within this year. Joining the Galileo project is also expected to help South Korea widen its political, economic and scientific ties with the European Union, the ministry said.
http://english.yna.co.kr

A bid by Israeli companies to join the European Union’s Galileo space program is expected to pass. The decision to propose the companies, including the Defense Ministry’s Rafael Armament Development Authority, the state-owned Israel Aircraft Industries, Orbit, and Rokar International, for participation in the Galileo project was made at a meeting between Israeli and European officials in Tel Aviv. If the companies are approved, Israel will invest at least $20 million over five years, and an equal sum will be provided by the Europeans for equipment and technology orders from the Israeli companies. http://feeds.bignewsnetwork.com

China Galileo Industries Ltd., a state company owned by China Aerospace Science and Technology Corporation, China Electronics Technology Group Corporation, China Satcom and China Academy of Space Technology, is authorized by the National Remote Sensing Center of China (NRSCC), the European Union-designated Chinese partner on the Galileo Project, to develop Galileo’s satellite and remote sensing technologies and application systems. According to a cooperation agreement signed by the NRSCC and the Galileo Joint Undertaking in last October, China pledged to invest in research and development on space technologies, ground equipment and application systems for the Galileo Project.
http://news.xinhuanet.com

Organizers of Europe’s new satellite-based European navigation system Galileo have announced their race to win the 20-year concession, a contract worth an estimated three billion euros (3.97 billion dollars) between Eurely, comprising Alcatel, Finmeccanica and Vinci, and the iNavsat group, made up of Thales, EADS and Inmarsat. The Galileo system, which should start operations in 2008, will complement the US Global Position System.
http://www.spacemart.com