Hyundai Heavy Industries says it has signed a contract to build a satellite launchpad at a space center under construction in South Jeolla Province.

The company said it will use domestic technology to build the facility at Naro Space Center on the southern coast. When it's completed, the nation will become the 13th in the world with commercial space launch facilities and the ninth to have satellite launching capacity.

After analyzing key Russian designs, Hyundai will complete design details for the launchpad, building and setting up the facility with its own technology.

The company is planning to launch the nation’s second science and technology satellite in October 2008.