Brazil’s burgeoning space ambitions have suffered a significant setback after the inaugural commercial rocket launch from its Alcantara Space Center ended in a crash shortly after liftoff.

The incident has also dealt a blow to shares of South Korean satellite launch company Innospace.

The rocket initially followed its planned vertical trajectory after taking off at 10:13 p.m. local time (0113 GMT). However, just 30 seconds into its flight, an unspecified malfunction caused the craft to fall to the ground, according to Innospace CEO Kim Soo-jong.