• The Korean Journal of Air & Space Law and Policy
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• v.29 no.1
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• pp.161-198
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• 2014

The idea of creating an International Space Exploitation Agency (tentative title: hereinafter referred to ISEA) is only my academic and theoretical opinion. It is necessary for us to establish ISEA as an international organization for the efficient and rapid exploitation of natural resources in the moon and other celestial bodies. The creation of ISEA as a new international organization is based on the Article 11, 5 and Article 18 of the 1979 Moon Agreement. In order to create it as a preliminary procedure, it needs to make the Draft for the Convention on the Establishment an ISEA among the space-faring countries. The main contents of this paper is composed of (1) introduction, (2) joint exploitation of the natural resources (Heliumn-3, etc.) in the moon and ISEA, (3) activities for the exploitation of moon and other celestial bodies by the space-faring powers, (4) legal problems and Solution for the exploitation and mining rights of the natural resources in the moon, mars and celestial bodies, (5) procedure of creating an ISEA, (6) the principal points that need to be included in the draft for the ISEA convention, (7) conclusion. The creation of an ISEA would lead to a strengthening of the cooperation among the States deemed essential by the global community towards joint undertakings in space and would act as a catalyst for the efforts on the exploitation of the natural resources moon, mars, Venus, Mercury and other celestial bodies and allow resources, technology, manpower and finances to be centrally managed in an independent fashion to the benefit of the space-faring countries. It is desirable and necessary for us to create ISEA in order to promote cooperation in the field of space policy, law, science technology and industry etc. among the space-faring countries. The creation of the ISEA will be promoted the international cooperation among the space-faring countries in exploration and exploitations of the natural resources in the moon, Mars, Venus, Mercury and other celestial bodies. Finally, it should be noted that the political drive will be necessary not only to set up the organization ISEA, but also study a subsequent measures. It is also necessary for us to create the ISEA in order to develop the space industry, to strengthen friendly relations and to promote research cooperation among the space-faring countries based on the new ideology and creative ideas. If the heads (president or prime minister) of the space super-powers including the UNCOPUOS will be agreed to establish ISEA at a summit conference, 1 believe that it is possible to establish an ISEA in the near future.