South Korea will make its third attempt next month to put a satellite in space, the science ministry said Tuesday, as it bids to join an exclusive club of Asian nations with space-launch capability.

The Korea Space Launch Vehicle (KSLV-I), whose two previous launches both ended in failure, will blast off between October 26-31, depending on prevailing weather conditions, the ministry said in a statement.

The first stage of the space vehicle is manufactured by Russia, combined with a solid-fuelled second stage built by South Korea.

Currently, only three Asian countries -- China, India and Japan -- have successfully launched a satellite into orbit.

In South Korea's first attempt in 2009, the KSLV-I actually attained orbit but faulty release mechanisms prevented proper deployment of the satellite.

A second attempt the following year also ended in failure when the rocket exploded in mid-flight.