South Korea’s new space agency to help compete in global space race

Seoul, May 26 (IANS) With the opening of the nation’s full-fledged space agency, South Korea is set to make its mark on the global space stage, aiming to transform into a powerhouse and join the elite space race led by the private industry.

The Korea AeroSpace Administration (KASA) will open its doors on Monday, focusing on fostering local companies that can play key roles in space development projects and helping the country develop a global-level space industry and space economy, Yonhap news agency reported on Sunday.

“Until now, the country’s space development projects have been led by the government,” Yoon Young-bin, KASA’s inaugural chief, said earlier.

“The most important role of the space agency will be supporting the private sector to lead space development.”

He pointed out that the world’s space industry is moving toward the so-called “new space” era, where private companies are actively leading innovation in space technologies with more economic feasibility.

“The global paradigm is shifting,” Yoon said, noting that top space companies, such as SpaceX, have developed reusable space rockets and launched a group of small satellites with capabilities similar to medium- and large-sized satellites.

To keep up with this trend, South Korea established KASA, the Korean version of the US NASA space agency, located in Sacheon, approximately 300 kilometres south of Seoul.

The 293-member agency will lead the nation’s space programs, such as the moon and Mars exploration, and bolster South Korean companies’ competitiveness in the global space industry.

Two years ago, the South Korean government announced its plan to land a homegrown spacecraft on the moon in 2032 and Mars in 2045 as part of efforts to become one of the top-five global space powers.

South Korea was a latecomer in the highly advanced industry but is currently considered the seventh-strongest space power after having successfully developed the 200-ton space rocket Nuri in recent years.

The country also plans to develop a next-generation rocket, KSLV-III, and make three launches in 2030, 2031, and 2032, with the third launch carrying a moon spacecraft aboard.

Experts at home and abroad welcomed the establishment of KASA, expecting the agency to help South Korea make a significant leap in the space sector and participate more in