"Making a satellite is no more difficult than making a cellphone," said Song Hojun, 34, who said he built the OpenSat to show people they could achieve their dreams.
There's a long history of do-it-yourself satellites being launched by scientific groups, but Song said his is the first satellite designed and financed by an individual.
An engineering student at university, Song regularly incorporated technology into his art pieces.
After working as an intern at a private satellite company, he came up with the idea for his "Open Satellite Initiative", the newspaper said.
The cubical OpenSat weighs 1 kg and measures 10 cubic centimetres. Radio operators will be able to communicate with the satellite.
However, the cost for launching it hit 120 million won after Song signed a contract with NovaNano, a French technology company, which acted as a broker to arrange the launch.
The satellite will be launched from the Baikonur Cosmodrome in Kazakhstan in December with another satellite.
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