Insight

[SPREC Insight VOL.7] Key contents and implications of the OECD Space Economy report
  • By. 김지선
  • Date. 2023-07-13
  • View. 334
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■ This report summarizes the main contents and implications of the revised edition of the OECD (Organization for Economic Cooperation and Development) 「Handbook on Measuring the Space Economy」 published in July 2022.


● The OECD analyzes the definition of the space economy, methods for measuring the size of the space industry, and cases of socio-economic ripple effect investigations necessary for the establishment of space policies of member countries, and recommends implications necessary for policy establishment.

- Examining the definition of the space economy: Suggesting the definition of the space economy and the industry classification code for international comparison

- Proposal of recommendations for space economy surveys: Based on the review of more than 10 space industry surveys, core principles of space economy surveys are suggested

- Analyzing the ripple effects of space activities: Summary of survey methods mainly used for the ripple effects of space economy


■ This report by the OECD is significant in that it seeks evidence that the space economy is helpful to the national economy from a statistical point of view and presents policy recommendations.


● Although the definition of the space economy in the first edition of the Space Economy Measurement Handbook published in 2012 was not modified, the US Department of Commerce Bureau of Economic Analysis (BEA) definition, which classified the space economy as goods and services in 2020, is suggested as an alternative.

● Suggest methods and best practices for space economy scale measurement surveys that can be compared between countries


■ As major countries are improving their statistical systems to accurately measure space economic activities, it is necessary to improve statistics that measure the size of the space industry in Korea in the future.


● Despite the national economic importance of the space industry, it is not possible to clearly prepare the statistical contents necessary for the establishment, execution, and evaluation of space policies, so the United States and France introduce the 'space economy satellite account'.

● The ‘space economy satellite account’ supplements the national account system with a satellite account prepared separately to identify the space industry that is difficult to explain within the framework of national accounts.


■ ‘Space Economy Satellite Account’ can be a final alternative that overcomes the limitations of the current statistical system and enables cross-country comparisons, so it is necessary to consider introducing it in Korea.

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