What Mirae Asset's SpaceX miss really says about Korea

Mirae Asset Securities, the South Korea-based brokerage that has long sought to expand its global footprint, hit a setback in its ambitions when it failed to secure SpaceX shares for local investors earlier this month for its initial public offering. The miss came as a surprise to the Korean market, given Mirae Asset's close ties with SpaceX. The market deemed Mirae Asset Securities had an upper hand in the IPO allocation, as Mirae Asset Financial Group was an early investor in the rocket compan

2026-06-23 15:13:13:00

Korea's US stock boom is only getting started: Toss strategist

South Korean investors have emerged as an increasingly influential force in US equities, boosting their holdings of American stocks to nearly $200 billion and becoming some of the world's most aggressive buyers of leading artificial intelligence companies. Yet despite their growing presence on Wall Street, the country's investors are still in the early stages of investing in US equities, according to Lee Young-gon, head of research at Toss Securities. "Korean retail investors have only been inve

2026-06-21 14:18:10:00

Kospi breaks 9,000 milestone

South Korea's benchmark Kospi breached the 9,000-point threshold for the first time on Thursday, driven by a rally in chip heavyweights as foreign investors shrugged off the US Federal Reserve's hawkish stance and snapped up more than 1 trillion won ($650 million) in local shares on the main board. The index closed at 9,063.84, 2.25 percent higher than the previous session. After opening at a 0.23 percent gain on-session, it extended its gains to break above the 9,000-point mark for the first ti

2026-06-18 15:05:50:00

US Fed's hawkish shift pressures BOK

The US Federal Reserve signaled a higher interest-rate path as it kept its benchmark rate unchanged Wednesday, increasing pressure on the Bank of Korea to move toward monetary tightening. In his debut Federal Open Market Committee meeting, Fed Chair Kevin Warsh kept the target federal funds rate unchanged at 3.5-3.75 percent, but struck a notably hawkish tone, citing continued price pressures. While the Bank of Korea had already been widely expected to raise its benchmark rate soon, the Fed's ha

2026-06-18 15:05:35:00

After IPO setback, Korean ETF managers rush into SpaceX

South Korean asset managers are rushing to increase exposure to SpaceX through exchange-traded funds, as investor demand for the newly listed aerospace company remains strong. Leading the pack is Ace US Space Tech Active ETF, managed by Korea Investment Management, with SpaceX accounting for 26.41 percent of its portfolio as of Tuesday. The fund had initially sought to secure initial public offering allocations through Mirae Asset Securities but pivoted quickly to open-market purchases after the

2026-06-16 14:55:34:00

Kospi surges 5% as US-Iran deal to end war lifts energy fears

The South Korean benchmark Kospi surged over 5 percent Monday after the US and Iran announced an interim deal to end the war, easing concerns over disruptions to global energy supplies. Following the announcement, which included provisions for reopening the Strait of Hormuz, the Kospi surged 4.95 percent at the open, triggering a buy-side sidecar, a five-minute trading curb. The index gradually extended gains throughout the day as normal trading resumed, closing 5.2 percent higher at 8,545.98. W

2026-06-15 15:00:50:00

Korea misses out on SpaceX's blockbuster IPO

As SpaceX blasted into the public market in a record-setting debut Friday, South Korea missed the ride altogether after Mirae Asset Securities, the only domestic member of the underwriting syndicate, failed to secure any share allocation. The rocket-maker enjoyed a successful Nasdaq launch, closing at $161 per share on Friday, up 19 percent from its initial public offering price of $135. The gain pushed its market cap above $2.1 trillion by the close of trading. Korea, however, was largely left

2026-06-14 15:11:22:00

KKR sees corporate reform unlocking Korea's valuation potential

US investment firm KKR highlighted South Korea as one of Asia's most compelling valuation opportunities, arguing that ongoing corporate governance reforms could unlock significant upside, the firm said Thursday. In its midyear 2026 outlook report, "The Divergence Conundrum," Henry McVey, head of Global Macro & Asset Allocation and chief investment officer of KKR Balance Sheet, described Korea's corporate reform story as "one of the more underappreciated opportunities in Asia," alongside Japan. T

2026-06-11 14:09:11:00

Won slide puts spotlight on offshore NDF trading

First came Korean retail investors pouring money into US stocks. Then came overseas investors trimming their exposure to Korean equities. Now authorities are turning their attention to another potential factor behind the won's sharp depreciation: trading in the offshore derivatives market. With the Korean won sliding to lows not seen since early 2009, authorities have flagged nondeliverable forward trading as a potential source of excessive volatility and stepped up monitoring of offshore transa

2026-06-10 15:19:59:00

Kakao Bank names former Kia executive as global head

Kakao Bank has appointed Kim Woo-joo, former global business executive at Kia, as head of its global division, the lender announced Tuesday. Kim brings nearly 30 years of experience from Hyundai Motor Group and Kia, where he led global business operations and future growth strategies, according to Kakao Bank. He played a key role in major global investments and new business initiatives at the automaking group, including the establishment of HMG Global, the group's US-based investment holding arm

2026-06-09 20:40:38:00