Korea will begin production of its first satellite for the Korean Positioning System (KPS) ahead of a planned launch in September 2029, the space agency said Monday. The Korea AeroSpace Administration (KASA) said it will hold a critical design review with related ministries and research institutions for the KPS No. 1 satellite, marking the final review before production of the flight model begins. The KPS is Korea's planned satellite navigation system designed to provide high-precision positioning, navigation and timing services over the Korean Peninsula and surrounding areas. The government plans to invest 3.72 trillion won ($2.73 billion) in the project over 14 years from 2022. Despite the delay, KASA plans to maintain its goal of deploying all eight KPS satellites by 2035.