Ibadan, 30 May 2024. – South Korea has officially launched its space agency, the Korea AeroSpace Administration (KASA), to lead policy and industrial development in its aerospace sector. The establishment was made possible after the Country’s national assembly passed a special law in January to unify government organizations in charge of space policy and projects. The new agency is based in Sacheon, South Gyeongsang Province, with an annual budget of 758.9 billion won ($556 million).
Aligning with the government’s policy, KASA will subsequently establish a roadmap for Korea’s space exploration, aiming to promote reusable launch vehicles, development of South Korea’s global positioning system (GPS) and a lunar lander program. Furthermore, the agency has plans to land its lunar lander on the moon in 2032 and to design and develop engines to enter the commercial launch service market.
Yoon Young-bin, the first administrator of the new space agency, said, “I am happy that we were able to finally open KASA, which has been a dream of countless people in the aerospace sector, and I feel both excitement and a heavy responsibility.” The new administrator also added, “The establishment of KASA will be an important stepping stone in leading Korea to become a full-fledged space economy powerhouse through the creation of a private-led space industry ecosystem.”
Yoon also noted four key roles for the agency, including establishing national aviation policies, spearheading research and development initiatives while nurturing a skilled workforce, fostering industry growth, and strengthening international cooperation efforts. “We will assign roles at the right time and place so that each individual’s abilities and capabilities can be maximized, and we will fulfil our role like an orchestra conductor so that their expertise can lead to solid results,” He said.
