South Korea has worked through roughly $1.5 billion in dollar purchase demand tied to SpaceX’s upcoming initial public offering, removing a key source of pressure on the Korean won just days before the listing is expected to go live.
The demand, which ranged between $1.2 billion and $1.5 billion according to reports, stemmed from local brokerages front-loading dollar purchases on behalf of clients eager to buy into SpaceX shares.
What happened and why it matters
The $1.5 billion figure, confirmed as of June 10, 2026, represents the bulk of that demand now having been absorbed by the market. With the clearance essentially complete, no further significant impact on FX markets is expected from IPO-related flows.
SpaceX’s listing is planned for the NASDAQ under the ticker SPCX, with the expected debut window falling around June 12 to 13, 2026. The company’s valuation is estimated at approximately $1.75 trillion, which would make it the largest IPO in history by a comfortable margin. For context, Saudi Aramco’s 2019 listing raised about $25.6 billion and was considered a generational event.
