South Korea will launch into orbit the multi-purpose Arirang 5 satellite in 2008.

The government finalized the launch plan in a state committee meeting Tuesday presided over by Science and Technology Minister Oh Myung.

The radar-equipped satellite will provide all-weather terrain and maritime information related to the Korean peninsula.

In Tuesday's meeting, the government also decided to cut back on an earlier plan to launch 20 similar satellites by 2015, citing the reality of satellite development conditions. The new plan calls for 13 such satellites in orbit by 2010.

Seven agenda items were finalized during the meeting, including a revised blueprint of a mid-to-long term space development scheme and another comprehensive plan on fostering the growth of science technology in provincial areas.