[Market Focus] SeAH Besteel Holdings Jumps 4% on Expectations of SpaceX-Related Gains

On December 24, shares of SeAH Besteel Holdings surged. This comes as U.S. space development company SpaceX is reportedly considering an initial public offering (IPO) with a target of going public in the second half of 2026. If SpaceX successfully lists, SeAH Besteel Holdings is expected to benefit.

As of 11:14 a.m. on the same day, SeAH Besteel Holdings was trading at 46,500 won, up 2,000 won (4.49%) from the previous trading day.

This is due to expectations that, if SpaceX goes public, there will be an expansion in the supply of special alloys and other materials and components used in the aerospace industry, drawing attention to related companies such as SeAH Besteel Holdings.

On this day, Park Kwangrae, a researcher at Shinhan Investment Corp., raised the target price to 50,000 won, stating, "Our subsidiary, SeAH Changwon Special Steel, is entering the high-barrier, high-value-added U.S. aerospace materials market directly through 'SeAH Superalloy Technologies (SST),' a special alloy production subsidiary currently under construction in Temple, Texas."

NH Investment & Securities raised its target price for SeAH Besteel Holdings by 29.5% to 57,000 won. Lee Jaekwang, a researcher at NH Investment & Securities, explained, "If SpaceX goes public, the growth rate of SST is expected to accelerate, with fundraising likely to exceed 30 billion dollars. A significant portion of this is expected to be used to expand Starship production, and the special alloys produced by SST are anticipated to be used as key materials for Starship."