Posted: Fri, Dec 18, 2009, 5:54 AM ET (1054 GMT)
Suborbital vehicle developer XCOR Aerospace announced Thursday that it has won a contract to provide suborbital flight services for a South Korean organization. XCOR Aerospace said that Yecheon Astro Space Center had agreed to a "wet lease" of a Lynx Mark 2 vehicle, with XCOR providing and operating the vehicle for space tourism and other missions. The deal is valued at $30 million, with Yecheon forming a "broad coalition" of regional and national organizations to fund the project. The deal would require XCOR to get export control approvals from the US government, and South Korea to establish an appropriate regulatory framework for commercial suborbital flights.

Related Links:

•  Wall Street Journal article
•  MSNBC article
•  AP article
•  XCOR Aerospace press release