SpaceX Raises 1 Trillion Won, IPO Anticipated... Will Aerospace Stocks Break Through the Atmosphere?

[Asia Economy Reporter Hyungsoo Park] Domestic aerospace-related stocks are gaining attention as news spreads that SpaceX, a U.S. private space exploration company founded by Elon Musk, CEO of Tesla, has reached a corporate valuation of $74 billion (approximately 82 trillion KRW).

At 10:01 a.m. on the 18th, AP Satellite's stock price was trading at 19,600 KRW, up 24.05% from the previous day. Kencoa Aerospace, Satrec Eye, and Intellian Technologies are also showing strong performance.

According to major foreign media, SpaceX raised new investment funds of $850 million (approximately 941 billion KRW) at $419.99 per share. The corporate valuation was recognized at $74 billion. When SpaceX raised $2 billion last August, its corporate valuation was $46 billion. It has increased by about 60% in about six months.

Elon Musk, who provided the cause for the sharp rise in Bitcoin prices, is drawing attention for the background behind SpaceX's large-scale fundraising. The investment was raised while SpaceX was simultaneously pursuing two major projects: Starlink, which builds an internet network through thousands of satellites, and the spacecraft launch business. SpaceX has already launched more than 1,000 satellites. It is known to have secured over 10,000 Starlink users worldwide. Musk, the founder of SpaceX, announced plans to spin off Starlink and pursue an IPO. The sharp rise in SpaceX's corporate valuation is expected to have a positive effect on the planned IPO of the satellite internet business division.

Interest in aerospace-related stocks is also growing in the domestic stock market. Hanwha Aerospace has become the largest shareholder of Satrec Eye, a satellite system development company. Its stock price has risen more than 130% this year. Hanwha Aerospace and Korea Aerospace Industries' stock prices have also increased by more than 40%. Intellian Technologies has risen about 70%.

Recently, with expectations for Coupang's IPO causing related stocks to surge, interest in technology companies raising funds in the U.S. stock market has increased. Related stocks are strong on expectations that the related fields will grow rapidly as massive funds are raised. Musk's contribution to the Bitcoin surge has made investors particularly sensitive to his remarks.