Korea Astronomy and Space Science Institute (KASI) has been developing the space optical and laser tracking (SOLT) system for space geodesy, space situational awareness, and Korean space missions. The SOLT system comprises satellite laser ranging (SLR), adaptive optics (AO), and debris laser tracking (DLT) systems, which share numerous subsystems, such as an optical telescope and tracking mount. It is designed to be capable of laser ranging up to geosynchronous Earth orbit satellites with a laser retro-reflector array, space objects imaging brighter than magnitude 10, and laser tracking low Earth orbit space debris of uncooperative targets. For the realization of multiple functions in a novel configuration, the SOLT system employs a switching mirror that is installed inside the telescope pedestal and feeds the beam path to each system. The SLR and AO systems have already been established at the Geochang station, whereas the DLT system is currently under development and the AO system is being prepared for testing. In this study, the design and development of the SOLT system are addressed and the SLR data quality is evaluated compared to the International Laser Ranging Service (ILRS) tracking stations in terms of single-shot ranging precision. The analysis results indicate that the SLR system has a good ranging performance, to a few millimeters precision. Therefore, it is expected that the SLR system will not only play an important role as a member of the ILRS tracking network, but also contribute to future Korean space missions.