Benefiting from SpaceX, this Korean brokerage's stock price has skyrocketed over 200% this year, making it the world's top-performing stock

The Smart Finance APP reports that since the beginning of this year, the stock price of Korea’s Mirae Asset Securities has surged more than twofold, as investors view it as an alternative to betting on SpaceX under Elon Musk, eagerly anticipating the company’s potential massive initial public offering (IPO).

Based in Seoul, this brokerage has become the best-performing component stock in the MSCI Global All Market Index so far in 2026. Analyst reports indicate that Mirae Asset Securities has invested over $400 million in SpaceX and its AI subsidiary xAI.

The soaring stock price of Mirae Asset Securities reflects investors rushing to position themselves for the combined listing plan of SpaceX and xAI—this merged entity is valued at up to $1.25 trillion. It also demonstrates the continued strength of the Korean stock market: market optimism about AI-driven chip demand remains high, and governance reforms promoted by President Lee Jae-myung have boosted market confidence.

Ha SeokKeun, Chief Investment Officer of Eugene Asset Management, stated that benefiting from the strong Korean stock market, Mirae Asset Securities’ fundamentals continue to improve, and its holdings in SpaceX provide additional upside potential, allowing investors to capture two major sources of value simultaneously.

Under the government’s efforts to boost stock valuations and attract retail investors, brokerage stocks have become one of the best-performing sectors in Korea’s KOSPI index—considered the best-performing stock index globally this year. SK Securities has risen about 200% this year, while Hanwha Investment & Securities has increased over 100%.

The Korea Composite Stock Price Index (KOSPI) is the best-performing stock index globally this year, with brokerage stocks among the top gainers in Korea. Against the backdrop of government initiatives to enhance market valuation and attract retail investors, SK Securities has gained approximately 200%, and Hanwha Investment & Securities has increased over 100%.

Yoon Yoodong, an analyst at NH Investment & Securities, pointed out that Mirae Asset Securities’ $7.5 billion investment portfolio heavily focuses on space and AI sectors, which is a key reason for its stock price increase. Its investments also include US AI company Perplexity AI and Chinese drone manufacturer DJI Innovations.

The company’s performance is also impressive. Mirae Asset Securities stated in last week’s earnings conference that its securities business revenue in 2025 hit a record high, up 43% year-over-year.

However, some believe that the stock’s rise has far exceeded what fundamentals can support: its expected P/E ratio is 21, three times the five-year average. Kang Seunggun, an analyst at KB Securities, warned that current valuations are excessive, and the actual benefits from the increased portfolio valuation are still unclear.

In a research report dated February 9, he wrote: “Most of the profit growth comes from unrealized gains in the merged fund, with limited direct impact on the company’s standalone capital. Therefore, the process of converting valuation gains into shareholder returns remains uncertain.”