This paper examines current developing status of space law as defined in terms of its unique principle that "the utilization of outer space for all mankind's interest". As commercialization of space activities has brought about heated debate on its legitimacy with respect to that principle, space law has come to witness a dual situation. One is the realization of that principle in establishing commercial space activities system where all mankind's interest is respected through the non-discriminatory distribution mode of space benefit. In satellite telecommunication system, the INTELSAT Organization assures its public service policy while protecting itself against a competition from separate systems. For remote sensing, commercialization of LANDSAT Systems promoted since 1984 seems not to affect present non-discriminatory distribution of data and information obtained. On the other hand, active participation of private entity aiming at commercial profit enables national government to manage more effective control and supervision of those activities with a view to promoting national interests. Also, newly developed private rules and regulations are emerging in business relations about commercial space activities. Extended capacity of national government assuring its national interest in production and distribution of international resources that is outer space, and regulation of space activities by newly developed rules and customs provoke a concern about a identity problem of space law. The best way to summarize this perspective might consist in saying that non space law regulations, which are not assumed as aiming at the promotion of all mankind's interest, are confirming their role about space related activities. For those reasous, we are now facing a developing status of space law as developments of commercial space activities continues.