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Tuesday, 23 June 2015

KorEconomics 101 (한국경제학개론), Part XVI: Mirae Asset - Building on Principles


Mirae Asset Financial Group (Hangul/Romanization: 미래에셋금융그룹/Mirae Asset Geum-yung Group) is a multinational and independent financial services group in Asia, headquartered at Mirae Asset Center One Building - 26 Eulji Avenue 5th Street/Euljiro 5-gil, Suha-dong 67-beonji, Seoul Jung-gu. While the group’s core business is asset management, it also provides comprehensive financial services in the areas of wealth management and life insurance. Mirae Asset was founded by Park Hyeon-joo in 1997; in the wake of the Asian Financial Crisis, and is credited with creating the asset management industry within Korea. The company introduced the very first mutual funds to Korean retail investors in 1998.

Mirae Asset Global Investments Group is the asset management arm of Mirae Asset Financial Group. It is one of the largest investors in emerging market equities. With approximately 593 employees, including more than 120 dedicated investment professionals, Mirae Asset Global Investments Group has a presence in Australia, Brazil, Canada, China, Colombia, Hong Kong, India, Korea, Taiwan, United Kingdom, United States and Vietnam.

Mirae Asset Securities Co., Ltd. provides wealth management, brokerage, investment banking, and retirement pension solutions in South Korea. It offers wealth management service in various financial products, such as equities, funds, and insurance; investment products, including foreign bonds, bond-type funds, derivative products, trust, and government bonds; and financial advisory services for wealth management and retirement planning. 

The company also provides brokerage trading services on securities, such as stocks, futures, and options through various trading channels; and online and mobile trading systems. In addition, it offers corporate financing services comprising IPO underwriting, IB products, OTC products, structured financing, real estate financing, social overhead capital, project development, merger and acquisition consulting, fixed-income underwriting, and proprietary trading. Further, the company provides retirement pension system and asset management consulting services. 

Mirae Asset is recognized as one of the largest investors in emerging market equities by AUM of fund managers surveyed. In fact, as of 28 Feburary 2014, the investments in emerging markets equity exceeded USD 21.59 billion. Furthermore, the Mirae Asset's total AUM accumulated to USD 57.30 billion for the same period.