On September 30, 2024, KAIST held the inauguration ceremony for its newly established Space Research Institute in the main auditorium of its Daejeon campus, appointing Professor Han Jae-hung from the Department of Aerospace Engineering as its inaugural director.

The Space Research Institute has been created to spearhead research in space missions and key technologies in the emerging New Space era. Under the slogan "Realizing Dreams Beyond Limits," the institute aims to achieve several key objectives: conducting pioneering research that broadens the horizons of human life in the field of space; presenting a new paradigm in space research and education as a global leader in academia; contributing to the innovation of domestic space technology and the establishment of a space industry ecosystem through challenging space missions; and nurturing creative space convergence talents to support sustainable national space development.

To accomplish these goals, KAIST has integrated and reorganized its previously independent space research organizations under the name of the Space Research Institute. The institute will initially include the Satellite Research Center, with plans to establish additional centers, including the Space Technology Innovation Talent Development Center, the Core Space Technology Research Institute, and the Space Convergence Technology Research Institute in the future.