Evolution and Dynamics of the Space Industry in South Korea Asie.Visions, No. 137, Ifri, January 2024
The advent of the 21st century has witnessed the rise of the space industry as a pivotal arena of technological innovation, economic opportunity, and geopolitical significance. Amidst this global landscape, South Korea has emerged as an increasingly influential player in space exploration and technology.
This paper comprehensively examines South Korea’s strategic approach to its space industry, covering growth patterns, governmental policies, and international positioning.
First, while discussing recent legislative changes and the Korean Aerospace Agency (KASA) establishment, we focus on the space industry ecosystem to highlight a shift to a market-oriented model for sustained growth. The shift in the space industry in South Korea hinges upon various factors, such as well-established governance, the private sector’s capital investment, and legal reforms.
Second, South Korea’s evolving space strategy, spanning three phases and aiming for global space economic power by 2045, is incorporated in the “Space Development 2.0” initiative that outlines goals to integrate space exploration with economic infrastructure. Also, South Korea’s military space strategy, outlining a three-stage plan for enhanced capabilities and institutional restructuring, has emerged as a new component of South Korea’s space strategy. The international cooperation strategy, including a strengthening space alliance with the U.S. and collaborations with emerging space nations, underscores South Korea’s commitment to a global and collaborative approach.
In conclusion, the paper provides a multifaceted analysis, offering insights into South Korea’s trajectory as a critical player in the evolving space landscape, covering legislative, economic, technological, and international dimensions.