XCOR Aerospace announced this afternoon a major business development for the suborbital vehicle developer: a contract to provide suborbital space launch services for a South Korean organization. XOCR will provide and operate a Lynx Mark 2 vehicle to the Yecheon Astro Space Center under a “wet lease” model, pending export control approvals. The center will use the Lynx for “space tourism, educational, scientific and environmental monitoring missions”, according to the announcement.

The center, formerly known as the Yecheon Astronomy Foundation, is not well-known, at least outside of Korea: the center’s web site is in Korean, and a Google search primarily turns up references to this announcement. The press release states that the center has put together “a broad coalition of regional and national entities” to fund the project.

That funding, estimated to be $30 million, could be critical to XCOR. At the Space Investment Summit 7 conference in Boston in late September, XCOR COO Andrew Nelson said that the company was looking for abut $10 million in investment or sales to fund development of the Mark 2 vehicle, which will be able to fly to higher altitudes than the single Mark 1 prototype under development.