South Korea’s Mirae Asset to invest $72 million in Space X in January 2023

A customer browses Apple watches at the new Apple Store on Broadway in downtown Los Angeles, California, U.S., June 24, 2021. REUTERS/Lucy Nicholson

By Hyunsu Yim and Heekyong Yang

(Reuters) – South Korea’s Mirae Asset Financial Group affiliates plan to invest a total of 93 billion won ($72.43 million) in Space X in January 2023, a person with knowledge of the matter told Reuters on Friday.

Mirae Asset Securities Co Ltd and Mirae Asset Capital Co Ltd will invest 88.5 billion won and 4.5 billion won in Elon Musk’s rocket and satellite company, respectively, the person said, declining to be identified due to the sensitivity of the matter.

The South Korean companies in regulatory filings said they would invest a total of 93 billion won without detailing the target of that investment and making no mention of Space X.

Mirae Asset Financial Group declined to comment on the target.

Separately, Mirae Asset Securities made an investment of 116 billion won in Space X through its fund in July, the person also said.

In October, Mirae Asset Financial Group was planning to commit about 300 billion won to help finance Elon Musk’s Twitter deal.