This article was displayed on the MoneyMove (MM) site of ChosunBiz at 5:37 p.m. on Jun. 13, 2026.
Mirae Asset Financial Group is understood to have taken part on its own in the initial public offering (IPO) of Elon Musk's space company SpaceX and been allocated public offering shares worth 300 billion to 400 billion won. The structure is for group affiliates to invest in the public offering through a Mirae Asset Global Investments fund for long-term holding, and it is said that they succeeded in subscribing to about half of the 700 billion won in fund commitments.
According to the investment banking (IB) industry on the 13th, Mirae Asset Global Investments set up the "Mirae Asset Apex General Private Investment Trust" this month and received total commitments of $460 million from Mirae Asset Securities and Mirae Asset Life Insurance. The proprietary investment (PI) institutional sector of Mirae Asset Securities committed $330 million (about 499.4 billion won), and Mirae Asset Life Insurance committed $130 million (about 196.7 billion won). In won terms, the total is 696.1 billion won. However, the subscribed amount came to only half of that.
The fund was created for the Mirae Asset group to invest in SpaceX's public offering shares. The aim is to acquire SpaceX public offering shares with the group affiliates' own funds and hold them long-term. First, money was pooled in the Mirae Asset Global Investments fund, and then they took part in institutional book building and other processes to subscribe.
This public offering investment was carried out through Mirae Asset Global Investments' U.S. unit. It participated in the capacity of a local U.S. institutional investor. In other words, this is separate from the 2,310,000 shares that Mirae Asset Securities was to receive as part of the underwriting syndicate but had canceled.
Earlier in the SpaceX IPO, about 5% of the total public offering was allocated to Asia, and Mirae Asset Securities was named as one of the underwriters to handle that portion. According to documents SpaceX submitted to the U.S. Securities and Exchange Commission (SEC) on the 12th (local time) ahead of its Nasdaq listing, Mirae Asset Securities was to be allocated 2,314,815 public offering shares.
However, in the final settlement process, the underwriting allocation that had been slated for Mirae Asset Securities was canceled in full. As a result, the plan for Mirae Asset Securities to participate domestically as an underwriter for SpaceX's public offering and allocate and sell the shares also fell through.
An official at Mirae Asset Financial Group said, "The cancellation of the domestic allocation of SpaceX public offering shares was the result of Goldman Sachs, the lead underwriter in the United States, adjusting the syndicate allocation from a dominant position."
An industry official well-versed in U.S. IPOs explained, "Eighty-five percent of the subscription allocation for this SpaceX public offering was assigned to the United States and 10% to Europe, and with a surge in demand from U.S. institutional investors, it seems Goldman Sachs hurriedly adjusted the allocation."
Meanwhile, through this private placement, Mirae Asset increased its cumulative investment in SpaceX to about 900 billion won.
Mirae Asset previously invested a total of 410 billion won in SpaceX at the group level in 2022 and 2023. When Mirae Asset first invested in SpaceX, the corporate value was said to have been only $127 billion (about 190 trillion won). Early this year, it carried out a follow-on investment of about $110 million (about 160 billion won) in xAI, increasing its SpaceX equity.