Seoul: South Korean space startup Innospace Co. announced on Saturday that the first commercial orbit launch of its Hanbit-Nano rocket has been delayed again due to technical problems. The rocket was supposed to lift off from the Alcantara Space Center in Brazil earlier in the day, following a previous schedule set for Wednesday.

According to Yonhap News Agency, Innospace is working closely with the Brazilian Air Force to reschedule the launch. The Hanbit-Nano vehicle is designed to carry eight payloads, including five satellites, and aims to deploy them into a 300-kilometer low orbit. The rocket's two-stage system is powered by a 25-ton thrust hybrid engine for the first stage, while the second stage utilizes a liquid methane and oxygen engine.

A successful launch would mark a significant milestone for Innospace, potentially making it the first private South Korean company to place a customer satellite into orbit.