This article was displayed on the ChosunBiz MoneyMove (MM) site at 10:40 a.m. on Mar. 18, 2026.
Mirae Asset Group was found to have significantly increased its equity in SpaceX through its investment in Elon Musk's artificial intelligence company xAI. It carried out a follow-on investment of about 160 billion won to secure equity in xAI and converted it into SpaceX stock during SpaceX's acquisition of xAI. The market says Mirae Asset made this investment to further increase its equity in SpaceX, the core asset of the "Musk group."
According to the investment banking (IB) industry on the 18th, Mirae Asset Global Investments' U.S. entity carried out a follow-on investment of about $110 million (about 160 billion won) in xAI early this year.
This follow-on investment coincided with SpaceX's acquisition of xAI. SpaceX earlier acquired xAI via a stock-swap method on Feb. 2 and granted xAI shareholders 0.1433 shares of SpaceX stock per share. As an unlisted company, SpaceX currently has a limited amount available for transaction in the over-the-counter market, making it an asset that is not easy to secure equity in directly.
Because of this, the view is that Mirae Asset's injection of funds into xAI right before the merger was not simply a follow-on investment in xAI but a strategic choice aimed at securing SpaceX equity.
This is Mirae Asset's third investment in xAI. In 2024, it invested about 120 billion won and about 30 billion won in two rounds. Including this investment, the cumulative investment in xAI is estimated at about 310 billion won.
Mirae Asset has also made multiple investments in SpaceX. In 2022 and 2023, it invested a total of 410 billion won. When Mirae Asset first invested in SpaceX, the corporate value was reportedly just $127 billion (about 190 trillion won). After the xAI acquisition, the combined corporate value is now about $1.25 trillion (about 1,800 trillion won). (Related article☞Mirae Asset, which invested in SpaceX, expects "up to 10 times" profit of about 3 trillion won... U.S. entity leads the deal)
The U.S. entity of Mirae Asset Global Investments, which led the investments in xAI and SpaceX, has served as a forward base for implementing Mirae Asset Group Chairman Park Hyeon-joo's global alternative investment strategy. Observers note that this additional investment is noteworthy in that Mirae Asset maintained its existing investment stance toward SpaceX while expanding its exposure across the so-called "Musk ecosystem." As Musk seeks to connect artificial intelligence with aerospace infrastructure by combining xAI and SpaceX, Mirae Asset also strengthened its investment positions in both areas through this transaction.