Russian President Vladimir Putin signed last week an agreement on space technology cooperation between Russia and South Korea, completing his country's legal procedures for the pact to enter into effect.

The Technology Safeguard Agreement, signed by the two sides in October last year, will take effect immediately after Moscow notifies Seoul of its ratification.

The Science and Technology Ministry in Seoul said Tuesday that this step will allow Russia to ship the first stage booster of the Korea Space Launch Vehicle-One (KSLV-One) rocket that is scheduled to blast off late next year. The second-stage booster is being built in South Korea with the help of Russian technology.

The ministry said that a second KSLV-One rocket carrying an experimental satellite will be launched in next year's second half from the nearly complete Naro Space Center in Goheung, South Jeolla Province.