SEOUL, June 12 (AJP) - The historic Nasdaq debut of SpaceX has turned investor attention to the Korean companies inside its supply chain, with KOSDAQ-trading HVM and Sphere among the names positioned to benefit as the world's most valuable private space company enters the public market.
HVM, which has supplied specialty metals to SpaceX directly since 2023, manufactures the high-strength alloys and titanium used in rockets and spacecraft, one of the few Korean firms with a confirmed, flight-qualified relationship rather than thematic exposure alone.
The business has been transforming fast. HVM swung to an operating profit in 2025 on revenue of 66.5 billion won ($44 million), up 47.4 percent from a year earlier, as its cost-of-sales ratio fell from above 100 percent to about 82 percent.
Roughly 60 percent of that revenue now comes from the space sector, up from a small fraction two years earlier, and the company carried that momentum into 2026 with first-quarter revenue of 23.3 billion won and operating profit of 4.4 billion won.
Its capacity is expanding to meet the demand. HVM brought a second plant online in 2025 and raised 92 billion won through a convertible bond in April to fund further expansion, positioning it to convert rising launch activity into orders.
HVM traded at 107,200 won, having reached as high as 119,800 won earlier in the session, within range of its 52-week high of 144,700 won and far above its low of 16,800 won, a measure of how sharply the stock has rerated over the past year.
Sphere, a KOSDAQ-listed launch-vehicle materials supplier, rose 4.9 percent to 40,400 won, reaching 45,300 won earlier in the day. The company posted 2025 revenue of 45.1 billion won and trades at a market capitalization of 2.08 trillion won.
The enthusiasm extends across the market. A leverage exchange-traded fund tied to SpaceX has drawn investor demand ahead of the listing, and Korean aerospace shares have rallied for weeks on expectations that the debut will accelerate global launch activity and lift the suppliers feeding it.
SpaceX is set to begin trading Friday on the Nasdaq, raising about $75 billion at a valuation near $1.77 trillion, the largest IPO on record, a milestone the market expects to draw fresh capital toward the space economy.
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