On 18 July 2019, during the last day of the economic mission to South Korea, the Deputy Prime Minister and Minister of the Economy, Étienne Schneider, presented the Luxembourg space sector at the "Korea Space Forum". This is the first conference in Northeast Asia devoted entirely to the emergence of the commercial space industry, which aims to explore the economic possibilities of space. Under the theme "Open Space Era, from Idea to Reality", the forum in Seoul was organised by the Republic of Korea’s Ministry of Science and ICT, in collaboration with Donga Science, a media company specialised in science, and the Korean Institute for Aerospace Research.
In his opening address, Étienne Schneider said: "Luxembourg is poised to play a pioneering role in the development of a commercial space economy focused mainly on the exploration and use of space resources. The Grand Duchy is the first European country to introduce legislation recognising that private companies can own resources they find in space. To ensure a continuous and coherent development of the international space sector, it is now essential for Luxembourg to exchange with other countries that have similar objectives."
In a meeting during the last day of the economic mission with You Young-min, the Republic of Korea's Minister of Science and ICT, Étienne Schneider highlighted recent developments in the Luxembourg space sector with its SpaceResources.lu initiative and the activities of the Luxembourg Space Agency.
Press release by the Ministry of the Economy
Luxembourg Space Agency – Luxembourg, the place for space development