S. KOREA'S SPACE TECHNOLOGIES

[Anchor Lead]

Following Richard Branson of the Virgin Group, Jeff Bezos, the founder of Amazon, has also succeeded in space travel. We take a look at where Korea’s space technologies stand in the era of space tourism.

[Pkg]

Jeff Bezos and three other space tourists float in zero gravity.

[Soundbite] Jeff Bezos (Amazon founder)

After a ten-minute space flight, they make a safe return to Earth.

This rocket can be used multiple times. Its launch costs were reduced by up to 90 percent. Space X can launch 60 re-usable rockets at a time. So far it has sent more than 1700 small satellites into space.

Space X aims to connect the world with a satellite internet network surrounding the Earth by launching more than 40,000 satellites. Amazon plans to launch 3000 satellites into space in the near future. The aerospace industry has emerged as a high added-value sector. In 2040 the global aerospace market is predicted to grow to 1.3 quadrillion won. But Korea’s space technologies are still in the nascent stage. Sales of domestic small satellites stand at just 7.6 billion won. Next-generation medium satellites and the Nuri space launch vehicle to be launched in October are still overseen by the government.

[Soundbite] Chung Ui-hoon(Eugene Investment and Securities) : "What matters is how many private businesses lead the sector. Korea’s space sector is mostly led by the government."

The space industry involves astronomical costs and cutting-edge technology. Experts believe government support and relevant regulations are needed to encourage more private businesses to participate in the space market.