South Korea’s Financial Supervisory Service (FSS) launches an investigation into Mirae Asset Securities and other investment management firms following complaints tied to SpaceX’s IPO allocation. The probe is prompted by what has been described as a “zero shares” allocation debacle for Korean investors. Authorities focus on a specific case in which an allocation of about 2.31 million shares was withdrawn without explanation on June 12, hours before SpaceX’s blockbuster initial public offering. FSS Governor Lee Chan-jin says regulators are reviewing the circumstances of the disputed allocation process and considering safeguards to prevent similar incidents during future high-profile listings. He also notes that the FSS is sifting through an increasing number of investor complaints related to the offering. Ahead of SpaceX’s June 11 IPO, Mirae Asset Securities marketed roughly $500 million worth of stock to local investors. Regulatory filings published before subscription opening indicated that the brokerage had secured an allocation of over 2.31 million shares, which would have given investors a rare opportunity to participate at the IPO price, reported as $135 in the filings described by the outlet.