South Korea aims to launch full-fledged space agency in May

SEOUL - South Korea's science ministry said Thursday it aims to launch a full-fledged space agency in May, with the nation seeking to join the ranks of advanced nations of spaceflight.

The planned launch of the Korea AeroSpace Administration (KASA), which came as the National Assembly passed a set of bills this week, was one of President Yoon Suk Yeol's campaign promises, Yonhap news agency reported.

In line with the planned launch of KASA, the Science and ICT Ministry said it set an ambitious target of capturing 10 percent of the global spaceflight market in 2045.

KASA will be in charge of leading the country's space programmes as well as aeronautics and space research, including moon and Mars exploration projects.

In 2022, South Korea announced its plan for spaceflight, including a project to land a spacecraft on the moon in 2032 and on Mars in 2045.

With the establishment of KASA, South Korea plans to foster more than 2,000 space-related companies and create about 500,000 new jobs, Yonhap cited the ministry said in a statement. - BERNAMA