South Korea is taking a major step in the development of its space program, with a plan to have solid-fuel rockets ready by 2024.
This announcement on Tuesday came just a couple weeks after the United States scrapped all the restrictions that used to limit South Korea's development of non-military rockets.
"With the lifting of missile restrctions on South Korea last month at the summit and the bilateral joint statement on satellite navigation, our government's efforts in terms of international space cooperation with the United States has finally yielded results."
Private companies in South Korea are now able to freely invest in and develop space technologies, such as solid-fuel rockets, which are much simpler and inexpensive to launch.
Also on the to-do list is for South Korea to build its own launch sites, which it will seek to do by 2024.
In addition, Seoul is now able to develop its own satellite-based navigation system by 2035, which will be called the Korean Positioning System, or KPS.
It would be analogous to GPS, developed by the United States, which is used in cars, smartphones and military equipment.
This technology will enable ultra-precision location capabilities all across South Korea, reducing the range of error to less than one meter.
And for national security and other purposes, the government is also planning to develop ultra-small satellites, that will be cheaper and easier to launch.
And in terms of mobile services, the government has set the goal of developing 6G technology in the future.
In the near term, South Korea's space program will take a giant leap this October with the launch of the country's first domestically developed three-stage space rocket called Nuri.
Choi Won-jong, Arirang News.