South Korea is scheduled to launch a satellite into space this Friday, barring weather disturbances and technical problems.

"We have confirmed after considerations of weather conditions and preparations for the launch that the launch will be possible on Oct. 26," Minister of Education, Science and Technology Lee Ju-ho was quoted by Yonhap News.

"However, even through preparations will be made for Oct. 26, the launch may be delayed if rainfall becomes imminent or very likely on the scheduled date," he added.

Final preparations for the satellite launch have been completed Wednesday, the Korea Aerospace Research Institute (KARI) told reporters. The Korea Space Launch Vehicle-1 (KSLV-1) has already been moved to the launch pad from an assembly complex.

This is the third time for South Korea to try to make a mark in space with the KSLV-1. The rocket, which is also known as Naro-1, is South Korea's first locally assembled space rocket since its space program began in 2002. The nation's first two attempts to launch the Naro-1 in August 2009 and June 2010 both failed.

Russia's Khrunichev State Research and Production Space Center built the first-stage thruster of Naro-1.

South Korea had signed a space cooperation pact with Russia in September 2004 to further solidify its space efforts. So far, the country has spent about 520 billion won (US$471 million) for its space program, reports Yonhap News. This is all part of a mission to launch an indigenous space rocket in 2021.

For its part, KARI has warned the Naro-1 launch could be called off at the last minute if conditions proved risky for the launch.

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