Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Capital Markets

Satrec Initiative / Equity Capital Markets

<ul>
<li>In this insight, we discuss the top 12 Korean companies that could benefit from the SpaceX IPO in 2026.</li>
<li>Share prices of 12 Korean companies that are beneficiaries of the SpaceX IPO are up on average 16.7% in the past one week versus KOSPI (up 1.6% in same period).</li>
<li>SeAH Besteel Holdings is a potential supplier of specialty steel to SpaceX. Kencoa Aerospace provided rocket parts to SpaceX. Intellian Technologies partnered with SpaceX on its launch vehicle recovery experiment.</li>
</ul>


In this insight, we discuss the top 12 Korean companies that could benefit from the SpaceX IPO in 2026.
Share prices of 12 Korean companies that are beneficiaries of the SpaceX IPO are up on average 16.7% in the past one week versus KOSPI (up 1.6% in same period).
SeAH Besteel Holdings is a potential supplier of specialty steel to SpaceX. Kencoa Aerospace provided rocket parts to SpaceX. Intellian Technologies partnered with SpaceX on its launch vehicle recovery experiment.


Top 12 Korean Companies - Key Beneficiaries of the SpaceX IPO in 2026

Equity Bottom-Up

<ul>
<li>The most viewed insight that I published in the past six months was Top 12 Korean Companies - Key Beneficiaries of the SpaceX IPO in 2026 (14 December 2025).</li>
<li>In this insight, I highlighted 12 companies in Korea that could best outperform due to the upcoming IPO of SpaceX.</li>
<li>The key thesis of this insight is that the easy money on these companies is gone. Overall, I would be very cautious on chasing after these stocks anymore.</li>
</ul>


The most viewed insight that I published in the past six months was Top 12 Korean Companies - Key Beneficiaries of the SpaceX IPO in 2026 (14 December 2025).
In this insight, I highlighted 12 companies in Korea that could best outperform due to the upcoming IPO of SpaceX.
The key thesis of this insight is that the easy money on these companies is gone. Overall, I would be very cautious on chasing after these stocks anymore.


Magnificent 12 Companies in Korea (Beneficiaries of SpaceX IPO) To Become Dirty Dozen?

Event-Driven

<ul>
<li>On 29 April, Aju IB Investment (027360 KS) announced an upcoming 7% block deal sale (8.48 million shares) in the company by its largest shareholder Aju Inc.</li>
<li>Aju IB Investment owns a small stake in SpaceX shares through its US subsidiary Solasta Ventures (US). The exact investment amount has not been disclosed.</li>
<li>In my view, Aju Inc is trying to take some profits after an enormous share price appreciation (up more than 660% in the past 6 months). </li>
</ul>


On 29 April, Aju IB Investment (027360 KS) announced an upcoming 7% block deal sale (8.48 million shares) in the company by its largest shareholder Aju Inc.
Aju IB Investment owns a small stake in SpaceX shares through its US subsidiary Solasta Ventures (US). The exact investment amount has not been disclosed.
In my view, Aju Inc is trying to take some profits after an enormous share price appreciation (up more than 660% in the past 6 months). 


Upcoming Block Deal Sale of a 7% Stake in Aju IB Investment (027360KS) By Aju Inc

<ul>
<li>The Starlink service is expected to be launched in Korea in 2Q/3Q 2023. Starlink gained more than 1 million active subscribers globally as of December 2022.</li>
<li>The launch of the Starlink service in Korea is likely to have a positive impact on  companies such as Hanwha Aerospace, Solu-M, Intellian Technologies, and Satrec Initiative.</li>
<li>We like a pair trade involving long (basket of 8 stocks above that are positively impacted by Starlink launch in Korea) and short (three major Korean telcos).</li>
</ul>


The Starlink service is expected to be launched in Korea in 2Q/3Q 2023. Starlink gained more than 1 million active subscribers globally as of December 2022.
The launch of the Starlink service in Korea is likely to have a positive impact on  companies such as Hanwha Aerospace, Solu-M, Intellian Technologies, and Satrec Initiative.
We like a pair trade involving long (basket of 8 stocks above that are positively impacted by Starlink launch in Korea) and short (three major Korean telcos).


Launch of Starlink Service by SpaceX - Impact on 11 Korean Companies

South Korea

Asia Pacific Satellite Inc. develops and manufactures satellite communication cellular phones. The Company also produces Fixed Docking Unit(FDU) and other satellite communication equipments.

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Asia Pacific Satellite (211270 KS)

Top 12 Korean Companies - Key Beneficiaries of the SpaceX IPO in 2026

In this insight, we discuss the top 12 Korean companies that could benefit from the SpaceX IPO in 2026. These 12 stocks are on average 16.7% in the...

Douglas Kim

Magnificent 12 Companies in Korea (Beneficiaries of SpaceX IPO) To Become Dirty Dozen?

Highlighting 12 Korean companies poised to benefit from SpaceX IPO, cautioning against chasing after these stocks. Easy money on these companies...

Douglas Kim

Upcoming Block Deal Sale of a 7% Stake in Aju IB Investment (027360KS) By Aju Inc

On 29 April, Aju IB Investment (027360 KS) announced an upcoming 7% block deal sale (8.48 million shares) in the company by its largest shareholder...

Douglas Kim

Launch of Starlink Service by SpaceX - Impact on 11 Korean Companies

The launch of the SpaceX's Starlink service in Korea in 2Q/3Q 2023 is likely to have a positive impact on companies such as Hanwha Aerospace, Solu...

Douglas Kim

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Top 12 Korean Companies - Key Beneficiaries of the SpaceX IPO in 2026

In this insight, we discuss the top 12 Korean companies that could benefit from the SpaceX IPO in 2026. These 12 stocks are on average 16.7% in the...

Douglas Kim

Magnificent 12 Companies in Korea (Beneficiaries of SpaceX IPO) To Become Dirty Dozen?

​Highlighting 12 Korean companies poised to benefit from SpaceX IPO, cautioning against chasing after these stocks. Easy money on these companies...

Douglas Kim

Upcoming Block Deal Sale of a 7% Stake in Aju IB Investment (027360KS) By Aju Inc

On 29 April, Aju IB Investment (027360 KS) announced an upcoming 7% block deal sale (8.48 million shares) in the company by its largest shareholder...

Douglas Kim

Launch of Starlink Service by SpaceX - Impact on 11 Korean Companies

The launch of the SpaceX's Starlink service in Korea in 2Q/3Q 2023 is likely to have a positive impact on companies such as Hanwha Aerospace, Solu...

Douglas Kim

Highlighting 12 Korean companies poised to benefit from SpaceX IPO, cautioning against chasing after these stocks. Easy money on these companies...