Seoul, June 20 (IANS) South Korea’s space agency said on Friday it plans to develop a reusable space launch vehicle by 2035 in a bid to keep pace with the rapidly shifting landscape of the global space industry.

The Korea AeroSpace Administration (KASA) has been working to modify its 2.1 trillion-won (US$1.53 billion) project for a next-generation rocket, originally designed as a single-use launch vehicle, into a reusable system, with the goal of acquiring the necessary technology within the next decade, reports Yonhap news agency.

The agency stressed that early development of reusable launch vehicles is crucial amid rapid changes in the global space transportation market, driven by the success of SpaceX’s Falcon 9 and Starship.

“All countries are developing reusable launch vehicles by around 2030. If we develop ours by 2035, we can still compete,” Park Jae-sung, a director general at KASA, told reporters. “If we miss the timing, the entry barrier will be too high, and we will be out of the game.”

He explained that KASA’s growing focus on reusable systems and its ongoing review of the next-generation launch vehicle project are part of this strategic shift.

KASA said that if the project proceeds as planned, the new vehicle could begin meeting domestic demand for space transportation from 2034.

Last month, aerospace agency said it has formally requested a government review to revise the development plan for its next-generation space launch vehicle, aiming to shift toward a reusable rocket system. KASA announced in February that it plans to modify its next-generation space rocket into a reusable system and acquire such technology by 2035.

In its reassessment request to the ministry, the administration said the envisioned change will be part of its broader strategy to respond to the rapidly shifting landscape of the global space industry.

KASA said it will work closely with the ministry to ensure the revised project plan is thoroughly prepared without any delays.

–IANS

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