SEOUL, July 28 (Yonhap) -- South Korean and Brazilian space agencies signed a memorandum of understanding (MOU) to expand cooperation in a broad range of areas, the Korea Aerospace Administration (KASA) said Tuesday.

The MOU for the peaceful use of space came as a follow-up measure to the South Korea-Brazil summit held in Seoul in February and marks the first agreement KASA signed with a Latin American country, the agency said.

The two institutions are expected to work together in areas such as launch authorization regulations, space industry development and satellite information sharing, among others, the agency added.

Brazil is considered a key nation in the space transportation sector, as the country operates the Alcantara Space Center, the closest launch site to the equator.

South Korean startup Innospace, which specializes in developing hybrid space rockets, has used the Alcantara center as its primary launch site.

The agreement came on the sidelines of President Lee Jae Myung's meeting with his Brazilian counterpart, President Luiz Inacio Lula da Silva, which marked their second bilateral summit this year following their February meeting in Seoul.

fairydust@yna.co.kr

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