TAMPA, Fla. — South Korea’s state-backed Institute for Basic Science (IBS) has ordered the first of five cubesats to study Venus from low Earth orbit (LEO) starting next year, bolstering sustained planetary research as flagship missions face budget uncertainty.

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Jason Rainbow writes about satellite telecom, finance and commercial markets for SpaceNews. He has spent more than a decade covering the global space industry as a business journalist. Previously, he was Group Editor-in-Chief for Finance Information Group,...