Independent research on Korean equities · KOSPI · KOSDAQ · DART filings
Almac (354320.KQ) is on step five of ten toward supplying SpaceX. Finished parts would lift revenue per part 2–2.5x; Starship volume sets the rest.
Korean aerospace stocks lost KRW 4.15tn on Oct 26, 2026, 96.1% of it at Hanwha Aerospace, KAI and three other defense firms. Delivery dates slipped, not space.
Sphere Corp. supplies SpaceX alloys made by outside plants. Its nickel smelter must earn USD 3,719/t to cover 12.75% debt; the stock implies USD 4,131.
