South Korea’s first domestic space launch vehicle KSLV-2 lies horizontally on a giant rocket-carrying vehicle at the Naro Space Center. Credit: Korea Aerospace Research Institute

SEOUL, South Korea – Starting next year, South Korea’s government will transfer state-owned space launch vehicle technologies to domestic aerospace companies in a move to help them penetrate an expanding global space launch market. To that end, the government will spend 687 billion won ($593 million) from 2022 through 2027, said the Ministry of Science and ICT, Sept. 7.

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Park Si-soo covers space industries in South Korea, Japan and other Asian countries. Park worked at The Korea Times — South Korea's leading English language newspaper — from 2007 to 2020. He earned a master’s degree in science journalism from Korea...