Hanwha Aerospace has won a 103.3 billion-won ($71.5 million) contract to develop the propulsion system for Korea's first-ever lunar lander planned for launch in 2032, the company said Monday. Under the contract with the state-run Korea Aerospace Research Institute, Hanwha Aerospace will be responsible for producing, assembling and testing key propulsion components, including the engine and attitude control thrusters, through 2032. The Korean aerospace and defense giant has developed key spacecraft propulsion systems for the country's space projects since the launch of the Arirang-1 multipurpose satellite in 1994. The company said technologies and infrastructure developed through the lunar lander project could later be applied to future space exploration missions. A Hanwha Aerospace official said the company aims to contribute to securing Korea's independent lunar exploration capabilities by leveraging more than 30 years of experience in the field.