When memory devices are exposed to space environments, they suffer various effects such as SEU(Single Event Upset). Memory systems for space applications are generally equipped with error detection and correction(EDAC) logics against SEUs. In this paper, several error detection and correction codes - RS(10,8) code, (7,4) Hamming code and (16,8) code - are analyzed and compared with each other. Each code is implemented using VHDL and its performances(encoding/decoding speed, required memory size) are compared. Also the failure probability equation of each EDAC code is derived, and the probability value is analyzed for various occurrence rates of SEUs which the STSAT-3 possibly suffers. Finally, the EDAC algorithm for STSAT-3 is determined based on the comparison results.