"The first launch of the South Korean Launch Vehicle [KSLV] from the Naro space center is scheduled for 2008," reads a report on a recent visit to South Korea by Anatoly Perminov, Russian space agency chief.
Russian and South Korean space companies are also developing a Korean launch vehicle.
In addition, the two countries are also involved in manned space flight cooperation. A contract was signed in December 2006 for a Korean astronaut to fly to the International Space Station (ISS) next spring.
South Korea has held a national competition to select the first Korean astronaut. Several possible candidates are currently training at the Gagarin center in Russia under a separate contract.
Perminov, who visited Seoul Friday, held a number of meetings with space industry officials. At a meeting with South Korean Science and Technology Minister Kim Woo-sik the parties reiterated their commitment to developing bilateral space cooperation.