The Science Ministry announced that South Korea launched its fourth space rocket, Nuri, on Thursday, putting more than 12 satellites in orbit. This was the first joint launch with a private firm.

South Korea launched the Nuri rocket program in 2021. However, in the most recent launch, Hanwha Aerospace, a local company, led the assembly and manufacturing of the rocket using technology that was transferred from the government.

The Korea Aerospace Research Institute posted a live video on YouTube of the rocket taking off from its launchpad at Goheung.

In a Facebook message, South Korean President Lee Jae Myung stated that "This...is the first time private companies have been involved in the entire project."

I am convinced that future generations will benefit from the science and technology we have developed.

The Nuri rocket took off at 1613 GMT on Wednesday, January 13th from the Naro Space Center in South Korea's southern coast.

South Korea's Ministry of Science and ICT announced that the main commercial-grade and 12 cube satellites were successfully orbited by the rocket.

HD Hyundai Heavy, a South Korean company, also operated the launchpad.

In the morning trading on Thursday, shares of HD Hyundai Heavy and Hanwha Aerospace both rose 1.6%, beating the market's 1.1% increase.

South Korea plans to test launch six rockets, including Thursday's, by 2027.

The government has said that it transferred technology to Hanwha in an effort to boost the country's aerospace industry competitiveness and help the private sector develop capabilities. Reporting by Heejin and Joyce Lee in Seoul; Hyunsu and Mrinmay in Bengaluru. Editing by Rod Nickel and Ed Davies.

(source: Reuters)