South Korea's Aerospace Administration Officially Established

TapTechNews May 27 - According to Yonhap News Agency, the "Aerospace Administration", the agency in charge of aerospace policies, research and development and industries in South Korea, was officially established today.

The first director of the Aerospace Administration, Yin Ningbin, said at the temporary building of the Aerospace Administration in Sichuan City, Gyeongsangnam-do on the same day that the Aerospace Administration will build a space industry ecosystem mainly based on the private sector to lay the foundation for promoting South Korea to become a space power.

It is reported that the Aerospace Administration is a central administrative agency under the Ministry of Science, Technology, Information and Communication, and is composed of 293 people including the director, the deputy director and the head of the aerospace mission. John Lee, who used to be the head of satellite management affairs at the Goddard Space Flight Center of the National Aeronautics and Space Administration, will serve as the head of the aerospace mission.

TapTechNews noted that as early as 2022, South Korea publicly announced its "Future Aerospace Economic Roadmap", aiming to turn South Korea into a space economic power, and the aerospace agency/hall known as the "Korean version of NASA" was also included.

At the press conference held in August 2022, the South Korean government then claimed that it would boldly invest through the establishment of the "Aerospace Agency" to open the era of aerospace economy.