South Korea's science ministry said Tuesday it will create a space policy-oriented think tank in a move to bolster its space development ambitions.

The country has recently ramped up its space program, with its first homegrown space rocket set for a launch in October and a lunar orbiter program scheduled for next year.

The Ministry of Science and ICT said the new think tank, tentatively named the Korea Space Policy Research Center, will conduct space-related research and analysis to offer guidance for the country's space development policies, as well as private sector efforts.

The think tank is expected to be formed with space industry experts from the Korea Aerospace Research Institute, Korea Astronomy & Space Science Institute and the Agency for Defense Development.

South Korea, a relative latecomer to the global space development race, has revved up efforts in space-related technologies to propel growth in future industries, with aims to develop over 100 miniature satellites by 2031.

The country aims to launch 14 low earth orbit communications satellites by that year to establish a satellite communications network to prepare for future 6G network technology, and test autonomous ship control systems and marine traffic services.

South Korea also received a boost in its space program earlier this year after it made an agreement with the United States to completely scrap its missile guidelines, which had limited efforts to develop space launch vehicles. (Yonhap)