South Korea Strengthens Space Development Cooperation with Luxembourg, a Small but Strong Nation
Minister Lee Jong-ho of the Ministry of Science and ICT and Luxembourg's Minister of the Economy
Memorandum of Understanding Signed on the Afternoon of the 28th, Agreeing to Actively Cooperate in Four Areas Including Space Science Research
[Asia Economy Reporter Kim Bong-su] South Korea is set to collaborate with Luxembourg, renowned for fostering space venture companies, in space development.
On the 28th, the Ministry of Science and ICT announced that Minister Lee Jong-ho signed a Memorandum of Understanding (MOU) on space cooperation between the two countries with the Luxembourg Minister of the Economy at a hotel in Seoul.
Luxembourg is famous for its aggressive space development policies, including enacting a unique Space Resources Development Act that grants all rights to discoverers, attracting numerous space mining venture investment companies. It also has strengths in policy and institutional aspects, such as establishing cooperative systems with major European space development organizations.
Marking the 60th anniversary of diplomatic relations with Luxembourg, the Ministry of Science and ICT has been actively building cooperative ties since June. South Korea and Luxembourg have agreed to focus on cooperation over the next five years in areas including space science, space policy, space exploration and resource utilization, and fostering the space economy and industry. Additionally, to review the implementation of the MOU, annual meetings (symposiums) will be held to share the current status and trends in space development. These meetings will include participation from industries and research institutions of both countries.
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Minister Lee Jong-ho of the Ministry of Science and ICT stated, “The MOU signed on the occasion of the 60th anniversary of diplomatic relations will serve as a good stepping stone for expanding space cooperation while both countries strengthen their cooperative relationship and enjoy mutual geographical advantages.” He added, “Going forward, the Ministry of Science and ICT plans to operate a joint working group with the Luxembourg Ministry of the Economy and Space Agency to discover and promote specific cooperation agendas across various fields.”
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