Key Takeaways
- • Park Hyeon-joo, founder and chairman of Mirae Asset Group, commits to reinvest approximately $20 billion in accumulated operating profits and investment exits from SpaceX and xAI over the next five years into global M&A activities.
- • Mirae Asset has invested over $400 million collectively in SpaceX and xAI, positioning itself as a significant shareholder in both Elon Musk-controlled entities during a period of rapid valuation growth.
- • Park is personally overseeing dealmaking across key markets including China, Singapore, Australia, and the United States, signaling board-level commitment to an aggressive international expansion strategy.
- • The capital deployment is framed as part of a broader "second founding" strategy, with Park characterizing the AI-driven economic transformation as a historic inflection point requiring repositioning of Mirae Asset's portfolio and competitive positioning.
- • SpaceX's operational scale includes 7,000+ low-earth orbit satellites through Starlink serving approximately 5 million households globally, underpinning the investment thesis driving Mirae Asset's confidence in long-term value realization.
Summary
Park Hyeon-joo, founder and chairman of Mirae Asset Group—one of South Korea's largest asset managers—announced plans to deploy approximately $20 billion in accumulated profits from the group's investments in SpaceX and xAI into a strategic global mergers and acquisitions program. Speaking with The Korea Economic Daily, Park stated: "The profits generated from our investments in SpaceX and xAI will be reinvested into global M&A." This capital is expected to materialize over a five-year horizon and represents a disciplined approach to harvesting gains from high-conviction technology positions while redeploying capital into new growth platforms.
Mirae Asset's existing portfolio in both entities underscores the scale of its technology bets. The group has invested over $400 million cumulatively in SpaceX and its sister firm xAI, establishing material ownership stakes in both companies at a time when their valuations have appreciated significantly. SpaceX, founded by Tesla CEO Elon Musk in 2002, operates a commercial space launch business anchored by the reusable Falcon 9 rocket platform serving both private satellite operators and U.S. government contracts. The company's Starlink division has deployed more than 7,000 low-earth orbit satellites and serves approximately 5 million households worldwide, demonstrating operational scale and revenue-generating capacity critical to the investment thesis.
Park is personally driving the execution of this strategy, having commenced dealmaking tours across key markets at the start of 2026, with visits to group affiliates in China, Singapore, Australia, and the United States. He is scheduled to deliver a New Year's address from Australia outlining what he characterizes as a "second founding" of the group. This messaging reflects Park's conviction that artificial intelligence represents a historic inflection point in global capitalism, requiring fundamental repositioning of investment portfolios and corporate strategy. The ambitious M&A program serves as the primary mechanism through which Mirae Asset intends to capture value from this technological and economic transition, converting concentrated technology gains into diversified, globally distributed growth assets.
Mirae Asset's existing portfolio in both entities underscores the scale of its technology bets. The group has invested over $400 million cumulatively in SpaceX and its sister firm xAI, establishing material ownership stakes in both companies at a time when their valuations have appreciated significantly. SpaceX, founded by Tesla CEO Elon Musk in 2002, operates a commercial space launch business anchored by the reusable Falcon 9 rocket platform serving both private satellite operators and U.S. government contracts. The company's Starlink division has deployed more than 7,000 low-earth orbit satellites and serves approximately 5 million households worldwide, demonstrating operational scale and revenue-generating capacity critical to the investment thesis.
Park is personally driving the execution of this strategy, having commenced dealmaking tours across key markets at the start of 2026, with visits to group affiliates in China, Singapore, Australia, and the United States. He is scheduled to deliver a New Year's address from Australia outlining what he characterizes as a "second founding" of the group. This messaging reflects Park's conviction that artificial intelligence represents a historic inflection point in global capitalism, requiring fundamental repositioning of investment portfolios and corporate strategy. The ambitious M&A program serves as the primary mechanism through which Mirae Asset intends to capture value from this technological and economic transition, converting concentrated technology gains into diversified, globally distributed growth assets.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.