Falcon 9 is a reusable rocket designed and manufactured by SpaceX.
Out of the 142 times it's been launched in the past decade, the Falcon 9 has succeeded in landing the first stage rocket 102 times, and has been reused 82 times.
Using a reusable rocket reduces launch costs by more than 7.7 million US dollars compared to using a new projectile.
SpaceX's operations have expanded tenfold in the past decade, launching 30 rockets in the last year alone.
The company also accounts for more than 60 percent of the global space launch vehicle market.
Meanwhile, Europe's Arianespace which once accounted for half of the commercial space launch vehicle market has recently reduced its number of launches from six to seven times a year to three.
Existing space launch vehicles can no longer compete against SpaceX.
Subsequently, countries with advanced space technology are planning to develop new reusable launch vehicles before the year 2030.
"Europe's Arianespace is also researching reusable launch vehicles to develop low-cost projectiles, and it seems that developing reusable projectiles is inevitable if countries that currently have advanced space technology are to maintain the commercial market to some extent."
South Korea's own launch vehicle, the Nuri, which is set for its second launch, is not part of the commercial launch market as it is used to launch satellites into low orbit.
The South Korean government has announced that it will develop launch vehicles that can handle larger payloads as well as reusable rockets as part of next-generation development projects that follow up on Nuri.
"The multi-stage combustion cycle method is used in developed countries, and has high efficiency and adjustable re-ignition output. If applied to the first stage, reusing the projectile becomes possible and if applied to the last stage, separating multiple satellites becomes possible."
A new space era is coming, and South Korea is hoping that the success of Nuri's second launch will
not only allow the country's launch vehicle technology to become completely independent, but also open up the possibility of entering the global commercial space launch market.
Jeong Eun-joo, Arirang News.