What Mirae Asset's SpaceX miss really tells Korea

Mirae Asset Securities, the South Korea-based brokerage that has long sought to expand its global footprint, hit a setback in its ambitions when it failed to secure SpaceX shares for local investors earlier this month for its initial public offering.

The miss came as a surprise to the Korean market, given Mirae Asset's close ties with SpaceX.

The market deemed Mirae Asset Securities had an upper hand in the IPO allocation, as Mirae Asset Financial Group was an early investor in the rocket compan ...