The FORMOSAT-3 project is to develop advanced technology for real-time monitoring of global climate. Therefore, this project is also name Constellation Observing System for Meteorology, ionosphere and Climate (COSMIC). The project is an international collaboration project between Taiwan and US with joint efforts of Taiwans National SPace Organization (NSPO) and University Corporation for Atmospheric Research (UCAR) of the US.

Central Weather Bureau (CWB) and NSPO have already reached an agreement through the consultation and discussion . CWB will cooperate with the execution progress of FORMOSAT-3 project and participate the plan and construction of Taiwan Analysis Center for COSMIC (TACC). TACC is set up at CWB for real-time data analysis, to produce atmospheric profiles and related resources with radio occultation observation data for operations and applications of meteorological systems in Taiwan.