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Korea Established a Space Agency to Compete in the Global Space Race

Korea established its own space agency, KASA, to participate in the global space industry. KASA would prioritise helping local businesses and promoting space development projects. The agency strives to boost Korean enterprises' competitiveness in the global space sector.

The agency's principal goal will be to assist and encourage local enterprises to lead space development initiatives and contribute to the growth of the country's space economy.

Yoon Young-bin, KASA's inaugural chief, stressed the role of the private sector in pushing space development. He emphasised the transition to the "new space" age, in which private enterprises are at the forefront of innovation and economic feasibility in space technologies. Companies such as SpaceX have already proved the viability of reusable space rockets and small satellites with comparable capabilities to larger ones.

To keep up with this worldwide trend, Korea developed KASA, which is modelled after the National Aeronautics and Space Administration of the United States. The organisation, based in Sacheon, would oversee the nation's space programmes, including moon and Mars exploration, as well as boost Korean enterprises' competitiveness in the global space industry.

Korea, although being a latecomer to the business, has achieved great progress in recent years. The successful development of the 200-ton space rocket Nuri has elevated Korea to the seventh-strongest space power. The government has ambitious plans to put a homegrown spacecraft on the moon by 2032 and Mars by 2045, with the goal of becoming one of the world's top five space powers.

KASA's foundation has sparked interest among professionals both domestically and globally. They believe the agency will move Korea forward in the space sector and increase involvement in international collaborative research projects. Kim Seung-jo, previous head of the Korea Aerospace Research Institute, stressed the need of technological advancement in a variety of disciplines for worldwide competitiveness.

NASA officials have also expressed interest in KASA, stating that they expect further space collaboration with Korea. They recommended KASA to learn from previous failures and use Korea's knowledge for international space programmes. To help with this, KASA has appointed John Lee, a retired senior executive from NASA, as its deputy administrator in charge of space missions and policies.

The local space industry has high expectations for KASA, pushing the agency to consistently assist both large and small businesses and enable them participation in worldwide space programmes. Park Jae-pil, the founder of space firm Nara Space, underlined the potential of smaller, previously disregarded companies.

KASA intends to support over 2,000 space-related businesses and create around 500,000 new jobs in the industry, demonstrating Korea's determination to become a significant player in the global space race.

  • Korea has launched its own space agency, KASA, to compete in the global space industry.

  • KASA will focus on supporting local companies and fostering space development projects.

  • The agency aims to enhance the competitiveness of Korean companies in the global space industry.

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