Insiders: South Korea has settled around $1.5 billion in demand related to SpaceX's initial public offering.

An informed source disclosed on Wednesday that the large-scale foreign exchange demand related to SpaceX's initial public offering (IPO) has been absorbed, alleviating the heavy pressure on the South Korean won in recent weeks. The source, who has access to information on the onshore market trading of the South Korean won against the US dollar, stated that an estimated $1.5 billion US dollar buy order is in its final stage. Sources stated that SpaceX has attracted investor demand of over $250 billion, making it potentially the largest IPO in history, far exceeding the company's planned $75 billion fundraising target. The IPO is scheduled to be priced on Thursday, after which the allocation ratio between institutional and retail investors will be determined. Boosted by this news, the South Korean won exchange rate strengthened further, trading at 1,524.1 won to 1 US dollar, up by 0.56% in the midday trading. "The market is very interested in how much US dollar demand SpaceX's IPO will generate in the US dollar/South Korean won foreign exchange market. The trading volume itself is expected to be between $1.2 billion and $1.5 billion," the source said. "However, the related processes have been carried out in stages and are nearing completion, so the South Korean won will not face downward pressure in the future in the foreign exchange market. The supply and demand issues related to this have been resolved."