News & Updates
The latest news and updates from companies in the WLTH portfolio.
Asia's Rocket Breakthroughs Challenge SpaceX Dominance
China recovers booster with net, Japan achieves vertical landing in reusable tech race Elon Musk's SpaceX (U.S.) has long dominated the reusable launch vehicle market, but now China and Japan are challenging its lead. On July 10, China successfully captured the first-stage booster of a rocket that deployed an actual satellite into space using a large net over the ocean. Japan, on July 11, achieved a vertical takeoff and landing of a small experimental rocket. Reusing the first-stage booster -- the most expensive part of a rocket -- reduces launch costs and increases frequency. This technology is critical for deploying satellite internet constellations and enabling lunar and Martian exploration. While SpaceX remains ahead, the entry of China and Japan signals intensifying global competition in reusable launch systems. ◇ China's Net-Based Booster Recovery China demonstrated the ability to perform a real orbital launch and recover the first-stage booster simultaneously. The China Aerospace Science and Technology Corporation (CASC) launched the Long March-10B from a commercial spaceport in Hainan on July 10, successfully placing a satellite into its designated orbit. The separated first-stage booster reignited its engines to slow its descent toward a designated maritime target. Four hooks attached to the booster were then caught by a large net on a floating platform. This marked the first time China recovered the first stage of a large rocket used in an actual orbital launch, following two previous failed attempts. Unlike SpaceX's Falcon 9, which uses landing legs to touch down on land or a drone ship, the Long March-10B employs a net-based recovery system. This approach reduces weight by eliminating landing legs, allowing for greater payload capacity. The net also accommodates movement from waves and wind, ensuring stable capture. However, full reusability requires repeated inspections and relaunches of recovered boosters. CASC plans to assess the recovered booster and attempt a reflight within the year. ◇ Japan's Low-Altitude Vertical Takeoff and Landing Test Japan validated core reusable rocket technologies -- vertical takeoff and landing, as well as precision flight control -- using a small experimental vehicle. The Japan Aerospace Exploration Agency (JAXA) successfully tested the reusable launch vehicle demonstrator "RV-X" at a test site in Noshiro City, Akita Prefecture, on July 11. The 7.3-meter-tall cylindrical RV-X is equipped with a throttleable engine, autonomous flight control systems, and four shock-absorbing landing legs. During the test, it ascended vertically to 11 meters, moved horizontally 16 meters while maintaining an upright position, and landed vertically. Though the flight lasted less than a minute, it proved the feasibility of key technologies. Japan plans to gradually increase the test altitude to approximately 100 meters and verify engine reignition and repeated flight capabilities. While still in early stages compared to China, the test marks Japan's first step toward entering the reusable rocket market. Foreign media framed these developments as challenges to SpaceX's dominance. Reuters called China's success a "major step forward in challenging the U.S.," while the Associated Press noted Japan's efforts to "secure core technologies for competing in the launch market dominated by SpaceX." ◇ South Korea Aims to Secure Core Reusability Technology by 2032 SpaceX, however, maintains a significant lead. It first landed a Falcon 9 first-stage booster in 2015 and began reusing recovered boosters for missions in 2017. To date, it has achieved over 600 successful booster recoveries and reused individual boosters more than 30 times. South Korea is still in the early stages of developing reusable launch vehicles. The Korea AeroSpace Administration plans to develop a next-generation launch vehicle based on an 80-ton methane engine, investing over 2 trillion Korean won in the project. The goal is to secure core reusability technologies by 2032 and advance toward a fully reusable launch system. With China and Japan achieving successive test successes, experts urge South Korea to accelerate its design and testing processes. "Reusable rockets are essential technology to avoid falling behind in the space race," said one industry source. "While there is consensus on its importance and direction, development must be expedited."
Elon Musk Predicts SpaceX Value to Surpass Entire Earth
Amid Wall Street valuations, analysts project SpaceX stock from $75 to $900 per share Elon Musk, CEO of U.S. electric vehicle company Tesla, claimed that the future value of SpaceX, the aerospace company he founded, would surpass the combined value of the entire Earth. According to financial weekly Barron's on July 10 (local time), Musk stated via X (formerly Twitter) the previous afternoon, "If we achieve our goals, SpaceX's value will grow larger than the rest of the planet combined." Barron's reported that Musk made this remark amid ongoing Wall Street valuations of SpaceX following its June initial public offering (IPO). In a radio interview, Musk also revealed a concrete goal of sending tens of thousands of people to a lunar base within the next 10 years. He added that astronauts would be sent to the Moon within 2-3 years, with plans to expand operations. He argued that, at some point, anyone who wishes could travel to the Moon or Mars. Musk stated, "We will build a self-sustaining city on the Moon, like a metropolis," where people could permanently relocate or take vacations. Market forecasts for SpaceX's valuation are mixed. Morgan Stanley projected that under a pessimistic scenario -- where Starship does not achieve normal operations by 2029 -- the stock price could drop to 75 dollars per share. Under an optimistic scenario, it estimated 600 dollars per share, with a target price of 300 dollars. Conversely, Citi assumed an optimistic scenario, projecting a stock price of 900 dollars, a corporate value of 12 trillion dollars, or approximately 18,000 trillion Korean won. According to financial data provider FactSet, the average analyst target price was 240 dollars per share. Sales are expected to reach 630 billion dollars by 2031, with operating profits exceeding 340 billion dollars in the same year.
Click-B Reunites After 11 Years, Discord Resolved
The members recalled, "Our fandom formed quickly, but mainstream recognition was slow. We gained recognition through our music show No. 1 win with *Baekjeonmupae*." They also honestly shared why they reunited after 11 years. Oh Jong-hyuk surprised everyone by stating, "The reason we couldn't be together for 11 years is because Min-hyuk and I didn't see each other." Yoo Ho-seok laughed, "How honest can you get?" Oh Jong-hyuk admitted, "Our values and directions were too different, and our pride was strong. We cut ties and lived separately for about 10 years." However, reconciliation came unexpectedly fast. Oh Jong-hyuk explained, "The members kept pushing us to meet, saying, 'If this continues, we'll never reunite.' We met by chance and talked for 15 minutes, and everything was resolved. Meeting face-to-face cleared up misunderstandings easily." Yoo Jae-seok, Yoon Jong-shin, and Lee Hyo-ri, who heard this, empathized, "When you get older, member conflicts aren't a big deal. It's like cutting water with a knife." The reason Click-B decided to reunite was also unique. The members said, "We've all passed 40. If not now, we'd have families and find it harder to gather. We wanted to show our fans that we're still together as 'Click-B' forever." On the day, Click-B performed their representative song *Baekjeonmupae*, recreating the emotions of 25 years ago. After the performance, Oh Jong-hyuk said, "It feels like we finally have a chance to repay our fans who waited 11 years. We just want to enjoy ourselves." He added, "Personally, it's happy just to stand on stage with all seven of us. Even after living our separate lives, when we gather, we're the same as before. We bicker over trivial things and then laugh together. I thought, 'We really haven't changed.'" Finally, Click-B announced, "We're preparing for a concert in August," and requested, "We hope for much interest and support."
Wemade's WEMIX Lists on Kraken, Western Expansion
Kraken listing boosts WEMIX liquidity, expands Western market access, with future exchange plans Wemade announced on the 8th that it has listed its virtual asset 'WEMIX' on the global cryptocurrency exchange 'Kraken.' With this listing, Kraken users can now easily trade WEMIX in U.S. dollars, a base currency. A Wemade official said, "The Kraken listing is significant in terms of securing liquidity for WEMIX and increasing exposure in Western markets," adding, "WEMIX, which has previously established its presence in the domestic, Asian, and South American markets, has now expanded its influence to institutional and individual investors in Western countries such as the U.S., Canada, and the U.K." The company plans to accelerate the expansion of WEMIX's Real-World Asset (RWA) initiatives through this Kraken listing. It intends to proceed with additional listings on major exchanges in the future, secure global liquidity, and continuously expand accessibility to the WEMIX ecosystem. Additionally, Wemade is preparing to launch an AAA-level new game to advance the WEMIX Web3 gaming ecosystem. It recently unveiled 'StableNet,' South Korea's first dedicated Layer 1 blockchain for a won-pegged stablecoin.
SpaceXAI Announces Name Change Following Merger with SpaceX
The merged entity plans to deploy AI compute satellites as space data centers starting 2028, aiming to expand AI infrastructure The AI company xAI, led by Tesla CEO Elon Musk, has changed its name to SpaceXAI. xAI announced the name change on the social media platform X (formerly Twitter) on the 6th (local time), stating, "We are now SpaceXAI." Musk's space company SpaceX, which recently entered Nasdaq through the largest-ever initial public offering (IPO), merged with xAI in February to integrate its space, AI, and social media businesses. The company plans to integrate AI into its space business in the long term, aiming to expand its AI infrastructure business, including space data centers. Although xAI is currently running losses, SpaceX has assessed that the AI business has significant growth potential. The company stated, "We plan to deploy AI compute satellites serving as space data centers starting in 2028."
Exclusive: Mirae Asset Securities to Pay 10% Interest on Failed SpaceX IPO
Firm to Compensate 1.42 Billion Won for Tied-Up Funds After Allocation Failure Mirae Asset Securities announced on the 6th that it is "strongly considering a plan to pay annual 10% passage interest to individual investors whose funds were tied up due to the failed subscription for SpaceX's initial public offering (IPO)." The compensation is estimated to amount to approximately 1.4 billion Korean won. Passage interest refers to interest calculated and paid based on the period during which funds were tied up. Mirae Asset Securities conducted the SpaceX IPO subscription for registered professional individual and corporate/institutional investors from June 5 to 10. The total offering amount was 1.14 billion dollars. Of this, 500 million dollars allocated to individual professional investors sold out within 1-2 minutes of the sale's start. However, the lead underwriter Goldman Sachs did not allocate any shares to Mirae Asset Securities during the final allocation process, causing the subscription to fail. Mirae Asset Securities fully refunded the subscription deposits on the morning of June 13. Previously, the virtual asset exchange Bybit set a precedent by paying annual 10% passage interest in a similar case. Mirae Asset Securities plans to apply the same 10% annual rate. Calculating compensation based on the amounts deposited by individual professional investors yields approximately 1.42 billion Korean won. The $300 million deposited on June 5 was tied up for 8 days until the refund date of the 13th, while the $200 million deposited on June 8 was tied up for 5 days. Applying the annual 10% rate on a daily basis, the $300 million portion accrues 657,534 dollars, and the $200 million portion accrues 273,973 dollars. The total of 931,507 dollars, when converted using the exchange rate at the time of refund (1 dollar = 1,524.8 Korean won), amounts to approximately 1.4204 billion Korean won. A Mirae Asset Securities official stated, "We deeply regret the inconvenience caused to customers awaiting subscription results. We will do our best to protect investors and provide stable services." Meanwhile, the Financial Supervisory Service has initiated an inspection into Mirae Asset Securities regarding this incident. Lee Chan-jin, head of the Financial Supervisory Service, recently said at a press briefing, "We never imagined such an incident could occur," and added that the inspection will determine whether the issue stemmed from communication failures by the lead underwriter or other factors. Mirae Asset Securities is also considering legal action if it determines that unfair treatment contributed to the allocation failure. Regarding Bloomberg's report, which claimed that a misunderstanding of the order submission process resulted in no shares being allocated, the company plans to hold Bloomberg accountable for legal responsibility.
Anthropic Eyes Samsung for Custom AI Chips
Move aligns with industry shift from NVIDIA GPUs, could bolster Samsung's foundry amid Tesla, OpenAI ties Anthropic, the world's most valuable private artificial intelligence (AI) startup with a valuation of 965 billion dollars, is in discussions with Samsung Electronics to produce its own AI chips, according to a report by U.S. IT media outlet The Information on the 2nd (local time). Anthropic reportedly hired Clive Chan, who previously worked on custom chip development at OpenAI, last month to lead its in-house AI chip development. The company is also said to be in talks with multiple chip design firms. Once the detailed design is finalized, Anthropic is considering utilizing Samsung Electronics' 2-nanometer (1 nanometer equals one-billionth of a meter) foundry process and advanced packaging. The 2-nanometer process is the latest technology and the same one Samsung uses to manufacture Tesla's AI chips. Industry observers suggest that if Samsung secures the order for Anthropic's AI chips, it could boost the foundry business, which has recently secured big tech clients like Tesla. Anthropic's move aligns with the tech industry trend of developing in-house AI chips to reduce reliance on NVIDIA's graphics processing units (GPUs), which are widely used in AI accelerators. Google has consistently released its own Tensor Processing Units (TPUs), while OpenAI recently unveiled its first custom inference chip, "Jalapeno," developed in collaboration with Broadcom. Anthropic avoided specific comments on its chip development plans, stating, "NVIDIA's GPUs, Google's TPUs, and Amazon Web Services' (AWS) 'Trainium' chips will continue to play a central role in Anthropic's computational resources." In May, Anthropic announced a 65 billion dollars (approximately 100.1 trillion Korean won) investment round, with global memory giants Samsung Electronics, SK Hynix, and Micron participating as strategic infrastructure partners. At the time, Anthropic noted, "These technologies play a key role in supplying memory, storage devices, and logic chips worldwide." South Korea's tech industry speculated that Anthropic, which is developing its own AI chips, might collaborate with Samsung's foundry business. Among the three memory companies that are Anthropic's strategic partners, Samsung is the only one operating a foundry business.
SpaceX Enters Mobile Communications With Satellite-Phone Connectivity
Starlink Mobile initiative targets global connectivity, challenging traditional telecom infrastructure Elon Musk-led space company SpaceX is expected to fully advance into the mobile communications business. The company plans to directly connect satellites in space with smartphones on the ground, providing not only internet access but also voice calls, text messaging, and other services. The Japanese Nikkei newspaper reported on the 1st, "SpaceX is planning a 'Starlink Mobile' initiative to launch more satellites into space and directly connect them with smartphones (the satellite internet network)." Since 2019, SpaceX has operated the 'Starlink' project, deploying small satellites at a low Earth orbit of 550 km to build an internet network. As of early this year, it has launched over 10,000 units and plans to expand to 40,000 units. Based on this infrastructure, the company aims to provide communication services for smartphones beyond its existing satellite internet for households and businesses, which requires separate receivers. Musk previously stated last year, "Within the next two years, we will enable mobile phone usage through Starlink services, like major telecom companies such as AT&T." ◇'Tesla Phone' Replaced by Mobile Communications Entry SpaceX effectively began preparing to enter the mobile communications sector in September last year. At the time, it invested 17 billion dollars to acquire wireless communication frequencies (2-4 GHz S-band) held by U.S. telecom company EchoStar. These frequencies, with longer wavelengths, are suitable for satellite communications that can reach distant areas. SpaceX is reportedly planning to test a 'satellite phone' service globally using this frequency band by the end of this year. This service is expected to be cheaper than existing mobile communication methods and could disrupt the industry if commercialized, as it enables connectivity anywhere on Earth. Currently, global mobile communications rely on signals exchanged between terrestrial base stations and phones. This requires hundreds of thousands of base stations on land, connected by dense fiber-optic cables. Communications often fail in mountainous or maritime areas beyond base station reach. In contrast, SpaceX's satellite phones directly exchange signals with satellites, enabling voice calls, data communication, and text messaging wherever the sky is visible. There were once speculations on Wall Street that Musk would develop an AI-enabled communication device, dubbed the 'Tesla Phone.' However, recent focus has shifted toward SpaceX leveraging its satellite and space communication technologies to enter the mobile communications market. U.S. investment bank TD Cowen recently projected in a report, "Competition between SpaceX and major telecom companies will intensify." ◇Funding Mars Colonization Through Communications The tech industry observes that Musk aims to use the communications business as a funding source for long-term projects like Mars colonization. Unlike AI development, which incurs losses due to massive upfront investments, the communications sector can generate stable revenue by utilizing existing infrastructure. Starlink, SpaceX's only profitable business, reportedly has a margin rate of 63-65%. As of last month, Starlink's global user base exceeded 12 million people. In its recent IPO prospectus, SpaceX stated, "The potential market size for the Starlink Mobile business is projected to reach 740 billion dollars (approximately 1,200 trillion Korean won)." As Musk accelerates into the satellite phone business, latecomers are also emerging. U.S. small launch vehicle company Rocket Lab recently acquired satellite communications firm Iridium. Through this acquisition, Rocket Lab plans to deploy its own satellites and provide communication services to ground devices. A high-ranking source from the aerospace industry said, "The satellite phone business does not require infrastructure replacements like base stations with each new mobile communication generation, and except for initial satellite launch costs, ground maintenance expenses are nearly zero. If commercialized, it could significantly disrupt the mobile communications market."
Anthropic Launches AI Drug Development Tool Claude Science
The AI company aims to accelerate treatments for overlooked diseases, leveraging expertise from AlphaFold developer John Jumper Anthropic, an AI company, has entered the healthcare market by launching a new drug development program. Anthropic unveiled the automated drug development software 'Claude Science' at an event held in San Francisco, U.S., on June 30 (local time). Claude Science is a service that integrates tools used by researchers to support literature analysis, multi-stage research execution, and visual research output generation. It is tailored to research environments in fields such as genomics, proteomics, and cheminformatics. Additionally, it connects with over 60 scientific databases. Eric Kawaler-Abrams, Anthropic's head of life sciences and a presenter at the event, stated that the company will focus on discovering treatments for neglected diseases, which traditional pharmaceutical companies do not view as attractive investments. When asked why Anthropic is directly entering drug development, he said, "To build the right models, products, and tools that will accelerate the industry's progress, we must gain firsthand experience." Claude Science operates based on the AI model 'Opus 4.8,' which was released in May. The generated results include traceable sources and references, allowing researchers to verify the content. Additionally, images generated by the system include information about their creation process. An Anthropic spokesperson added, "As a public benefit corporation, we can choose programs that serve patients' interests, including tasks overlooked by the commercial market." Meanwhile, Anthropic previously recruited John Jumper, the former Google DeepMind vice president who developed AlphaFold, an AI tool specialized in new drug and material development. Jumper, who co-awarded the 2024 Nobel Prize in Chemistry with Demis Hassabis, DeepMind's CEO, solved the protein folding problem using AlphaFold AI.
RESCENE's Unconventional 'Pretty Girl' Promotion Launched
Choreography challenge and interactive site boost comeback anticipation [OSEN=Jang Woo-young Reporter] Group RESCENE (RESCENE) has heightened anticipation by launching an unconventional promotion ahead of their comeback. RESCENE (Won-i, Rib, Minami, Mei, Jena) opened a special promotional campaign on July 1 through their official SNS, releasing a challenge video featuring the point choreography of their remake single 'Pretty Girl' and a website where fans can participate directly. The unveiled video showcased RESCENE's addictive charm through easy-to-follow point choreography that highlights the bright atmosphere of the new song. Their refreshing energy and the song's adorable appeal have amplified expectations for their return. A source stated, "Global fans are already showing interest in the 'Pretty Girl' point choreography challenge content, which anyone can easily follow. Attention is focused on what kind of challenge trend they will spark on short-form platforms after their comeback." Alongside this, RESCENE opened the 'Pretty Girl's Secret Closet' website, adding visual enjoyment. The site allows fans to view characters designed by the members and create their own avatars. RESCENE, who achieved a reverse hit through YouTube popularity and is preparing for their comeback, is anticipated to showcase new charm through their 'Pretty Girl' stage. /[email protected]
SpaceX Acquires Mesh Optical Technologies
FTC Approves Acquisition of Ex-SpaceX Engineers' Optical Tech Firm After Expedited Review SpaceX, the aerospace company led by Elon Musk, is acquiring Mesh Optical Technologies, a startup specializing in optical communication technology. According to Bloomberg News on June 26 (local time), the U.S. Federal Trade Commission (FTC) approved the transaction after an expedited review, determining that the acquisition posed minimal concerns regarding competition restrictions. Mesh Optical was founded by engineers who previously worked at SpaceX. They were known to have participated in the development of laser link communication technology for SpaceX's satellite internet service, Starlink. The company has developed optical transceivers used to exchange data between data centers. Optical transceivers are devices that transmit information using light, and Mesh Optical's technology is evaluated as having higher power efficiency and shorter latency compared to conventional methods. Mesh Optical also secured an investment of 50 million dollars, approximately 76 billion Korean won, in February this year, led by Thrive Capital.
Korean Retail Investors Shift Funds From SpaceX to Semiconductors
Post-SpaceX Slump, Investors Pour $627.67M into Semiconductor ETF, Shifting Focus to Chip Sector Seohak ants (Korean retail investors buying foreign stocks) engaged in a record-scale initial public offering (IPO) of SpaceX and proceeded to make large-scale net purchases immediately after its listing, but as the stock price fell, they sold SpaceX and moved their funds back to the semiconductor sector. According to the Korea Securities Depository on the 28th, the stock that individual investors net-purchased the most in the U.S. stock market last week (June 22-26) was the 'ProShares Ultra Semiconductors ETF' (DIREXION DAILY SEMICONDUCTORS BULL 3X SHS ETF). During this period, Seohak ants' net purchases of this stock reached 627.67 million dollars (approximately 963.9 billion Korean won). The next most popular stock among Seohak ants was semiconductor company Micron, with net purchases of 301.25 million dollars. This was followed by the 'Roundhill Memory ETF' (208.49 million dollars), which includes Samsung Electronics and SK Hynix in its portfolio, and Intel (134.06 million dollars). It appears that Seohak ants' funds were heavily concentrated in semiconductors. Just a week earlier, Seohak ants' funds had been focused on SpaceX, which debuted on the U.S. Nasdaq market on the 12th. From the 12th, the day SpaceX was listed, until the 22nd, domestic individual investors net-purchased SpaceX to the tune of 1.9496 billion dollars, marking the largest net purchase of overseas stocks during that period. However, the mood shifted as the stock price plummeted. SpaceX, which debuted at an offering price of 135 dollars, surged 19% on its listing day and continued to rise on the 15th-16th, breaking 200 dollars. But the stock price then plummeted, falling to 153 dollars on the 26th. Investor sentiment was significantly dampened when SpaceX announced plans to issue corporate bonds despite raising massive funds through its IPO. As SpaceX's stock price fell sharply, investors began selling it off and once again turned to semiconductor stocks. In particular, after Micron announced better-than-expected earnings and guidance on the 23rd, investment funds flowed heavily into the semiconductor sector.
SpaceX Volatility Sparks 30% Plunge in Aerospace ETFs
SpaceX's Bond Issuance, Fed Rate Fears Exacerbate Market Jitters, Impacting ETFs The bellwether stock of the global aerospace sector, SpaceX, has continued its sluggish trend, causing the returns of aerospace exchange-traded funds (ETFs) to plummet. Analysts attribute the volatility across the aerospace stock sector to SpaceX, which has a market capitalization of 2 trillion dollars (approximately 3,000 trillion Korean won), making it the seventh-largest company globally. ◇Repeated Surges and Plummets at SpaceX Since listing on the U.S. Nasdaq on June 12, SpaceX has exhibited significant stock price volatility. The company's shares surged 19.22% on the listing day, followed by further jumps of 19.60% on June 15 and 4.83% on June 16. However, the trend reversed on June 17, with declines of 4.95% and 3.56% over two days, culminating in a 16.43% plunge on June 22. The June 22 drop is attributed to the announcement of SpaceX's large-scale corporate bond issuance plan. SpaceX had planned to issue bonds to repay a $20 billion high-interest short-term borrowing secured in March. The plunge coincided with spreading expectations that the U.S. Federal Reserve might raise interest rates within the year, which sharply dampened investor sentiment. SpaceX's stock closed at $154.54 on June 24, down 1.01% from the previous day, marking its lowest closing price to date. As a result, SpaceX CEO Elon Musk surrendered the title of the world's first 'trillionaire.' On June 24, Forbes reported that Musk's net worth stood at $962 billion based on June 23 closing prices, falling below $1 trillion. Although his assets had swelled to $1.1 trillion following SpaceX's listing on June 12, the stock decline caused him to step down from being humanity's first trillionaire. ◇Aerospace ETFs See Steady Declines The slump in the bellwether stock has dragged down the returns of aerospace ETFs. According to Koscom ETF data on June 25, aerospace ETFs occupied two spots among the top five domestic ETFs with the largest price declines over the past month. PLUS Aerospace, ranking second with a -34.15% drop, and TIGER U.S. Space Tech, fourth with -30.30%, led the losses. PLUS Aerospace invests in major domestic aerospace stocks like Korea Aerospace Industries and LIG Defense & Aerospace, while TIGER U.S. Space Tech focuses on U.S. aerospace firms including SpaceX and Rocket Lab. The broad downward pressure on aerospace stocks, both domestic and international, caused the sharp declines. Other aerospace ETFs such as SOL U.S. Aerospace Top 10 (-25.12%), ACE U.S. Space Tech Active (-20.88%), and KODEX U.S. Aerospace (-20.15%) followed similar trends. Among aerospace ETFs, those without SpaceX exposure managed to outperform. For instance, the WON U.S. Aerospace & Defense ETF, which does not hold SpaceX, rose 4.7% over the past month. Unlike larger ETFs, it avoided exposure to SpaceX's price decline, successfully defending its returns. Financial sector analysts anticipate that aerospace stocks will continue to experience volatility driven by SpaceX's stock movements in the near term. Kim Se-hwan, a researcher at KB Securities, stated, "The announcement of SpaceX's corporate bond issuance plan has amplified concerns over its financial burden and overvaluation." He added, "Despite holding approximately $100 billion in cash-equivalent assets, SpaceX's push to expand large-scale borrowing has raised significant worries." Cho Seung-bin, a researcher at Daishin Securities, noted, "SpaceX's massive fundraising is influencing global financial market liquidity amid ongoing valuation debates." He explained, "Compared to past major tech IPOs, SpaceX's revenue growth rate of 33.2% in the year preceding its listing was relatively low, while its price-to-sales ratio (PSR) remained excessively high." Anxiety is growing among individual investors who directly invested in SpaceX. Kim, 29 years old and residing in Seodaemun-gu, Seoul, said, "I jumped in the next day after seeing SpaceX's surge post-listing, but my returns are now in the negative 20% range." He added, "I plan to sell half if I recover the principal and wait." According to the Korea Securities Depository, Seohak ants (Korean retail investors buying foreign stocks) net purchased $1.879 billion worth of SpaceX shares from June 12 to 24. This period saw SpaceX as the top net purchase, nine times larger than the second-placed Roundhill Memory ETF's $207.69 million net purchases, highlighting intense demand.
