President Lee Myung-bak says the nation has ushered in a new era of space science with the successful launch of the nation’s first astronaut.

In a ceremony Tuesday in Seoul to mark the nation’s first human space flight, Lee said the 50 million Korean people now have a new dream.

Lee said South Korea should be able to join the world's top seven countries in space development within ten years, adding that it will seek to conduct such launches on its own by 2020.

Lee said the Korean people are hoping for Yi Soyeon to successfully complete her mission, adding that her journey is an inspiration to young people.