SPACE GEOECONOMICS: NAVIGATING STRATEGIC HORIZONS AND CHALLENGES IN SOUTH KOREA’S SPACE DEVELOPMENT

With inclusiveness and strategic value, space has become a key focus for geoeconomic competition among state actors. Geoeconomic strategy, essential for pursuing space accomplishments, is initiated through programs and competitions in the space domain. This article conducts an analytical perspective on space geoeconomic strategy, integrating the mutually-constructed relationship of geoeconomics and space development. Adopting the evolution of South Korea’s space program as the case study, it examines the formulation of space geoeconomic strategy, the driving factors, and the challenges. The article highlights South Korea’s advancements in space capabilities and analyzes how the government plays the leading role in fostering collaboration with private entities in technology integration, transfer, and policy prioritization. Simultaneously, as South Korea consolidates its position in the global space agenda through international cooperation, intensifying U.S.-China competition complicates its strategic situation. The article underscores the delicate balance required to navigate economic relationships and address the complexities of decision-making in space geoeconomic strategy