November 15, 2024

Mirae Asset Financial Group, has garnered recognition for its early investments in both SpaceX and X. The group has committed around $528 million (740 billion won) to the two companies, positioning itself strategically in what some are calling the “Musk era.” Mirae Asset Chairman and Global Strategy Officer (GSO) Park Hyeon-joo is credited with playing a central role in these investment decisions. According to investment banking sources on Nov. 14, Mirae Asset invested $278 million (390 billion won) in SpaceX between 2022 and 2023. The group made two investments in July and December 2022, totaling $143 million (200 million won). In June 2023, the financial group followed up with an additional $135 million (190 million won) investment in SpaceX. This latest round included $2.85 million (4 billion won) from a fund jointly managed by Mirae Asset Capital and Mirae Asset Venture Investment, which contributed to a 32% surge in Mirae Asset Venture Investment’s stock over the past month. Chairman Park’s direct involvement in these investments has been seen as essential. Industry insiders point out that while Mirae Asset taps into its global network to find major investment opportunities, Park personally oversees key mergers and acquisitions, along with significant equity investments. “Investing in SpaceX isn’t something just anyone can do,” one expert noted. “Without Park’s global connections, securing this deal would have been difficult.” A senior investment banking executive added, “SpaceX should be viewed more as part of Park’s personal portfolio than a typical Mirae Asset investment.” When Mirae Asset first invested in SpaceX, the company was valued at $127 billion (179 trillion won). By the second round of funding, its valuation had increased to $137 billion (193 trillion won). In June 2023, SpaceX’s valuation surged to $210 billion (295 trillion won), solidifying its position as one of the world’s most valuable private companies, alongside ByteDance, the Chinese parent company of TikTok, which is valued at $225 billion. With Musk’s prominent role in the Trump administration, SpaceX’s valuation is widely expected to rise further, strengthening its position as a dominant force in the global market.

October 25, 2024

Global X ETFs, announced that the firm has been named a winner in the following three categories in the 2024 ETF Express US Awards program:Most Innovative ETF Issuer, Best Thematic ETF Issuer ($10bn+), and Best International Equity ETF Issuer ($10bn-$50bn)

October 07, 2024

Mirae Asset Foundation supported the construction of essential facilities, including restrooms, at KBH Harsul School located in Nashik, near Mumbai, on Sept.23.