South Korea will make another attempt on Thursday to launch its space rocket at 5:01 p.m. local time, local media reported, citing the science and technology ministry.

The news comes a day after a technical problem delayed the planned blast-off of the locally assembled space rocket called Naro-1, or the Korea Space Launch Vehicle-1 (KSLV-1).

"Experts concluded that the rocket is ready for blastoff and remedial actions carried on the malfunction met operational requirements," vice science minister Kim Jung-hyun was quoted as saying by Yonhap News Agency.

A technical glitch botched up the first launch in 2009. The launch was foiled by a faulty fairing assembly, which prevented the rocket from putting the satellite into the orbit.