Nuri launch vehicle valued at 2.3 trillion won annually

The Science and Technology Policy Institute (STEPI) has estimated the annual economic and social value of South Korea’s Nuri launch vehicle project at approximately 2.3 trillion won.

Using a specialized R&D-based Conditional Valuation Method (R&D-CVM), researchers analyzed public perception across 1,010 households. The study integrated factors such as expectations of project success and preferences for long-term value. Findings indicated that 76.3% of respondents expect the project to succeed, while 77% expressed support for the project even if benefits are realized in the distant future.

The research highlights that failing to account for public perception can lead to significant inaccuracies in valuing large-scale R&D. For instance, among groups skeptical of the project's success, the estimated willingness to pay was approximately 10 billion won annually—66.4% lower than estimates produced by traditional methods. Conversely, groups optimistic about success showed values 9.2% higher than traditional estimates. STEPI researchers suggest that public perception and social value should be integrated into the entire lifecycle of large-scale R&D planning and evaluation.