In its second attempt in June last year, the nation managed to successfully launch its homegrown rocket and placed dummy satellites into orbit.
This third test will be the first to load and launch a commercial-grade satellite aboard the Nuri vehicle, standing on the pad at the Naro Space Center in Goheung, on the southwestern tip of South Korea.
A computer glitch caused the initial attempt to be called off on Wednesday.
The Yonhap news agency has since reported the glitch has been fixed, meaning Nuri is set to launch today.
An official also said communication errors between computers had been fixed after overnight work.
The $1.52 billion Nuri project that began in 2010 will continue until 2027, with three additional rocket launches.
South Korea is aspiring to be a key player in space technology, competing with its Asian neighbours.
Click here to sign up for our newsletters.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies