Mirae Asset Daewoo Securities Co. has been moving fast to occupy an advantageous position to cope with the fourth Industrial Revolution including such progressive technologies as IoT, AI and self-driving autos.
In partnership with domestic firms, the company is about to make moves to take over foreign firms with great potential for development. Mirae Asset Daewoo Securities is ready to set up a research center to map out strategies for its M&A activities overseas, along with a plan to set up a 1 trillion won war chest to invest in new growth industries.
The company will seek out startups with great growth potential in a batch of key technological areas, including AI, Lot, robotics, virtual reality (VR), augmented reality (AR), self-driving autos, healthcare and smart homes, among others, with great opportunities for growth. In order to push its strategy, the company has already set up the war chest with 350 billion won, and the company will add more funds in cooperation with other domestic firms.
Mirae Asset Daewoo has a plan to not only set up its investment strategy for the arrival of the 4th Industrial Revolution, but it also extended support to domestic investors.
The company alo set up a global investment information team at its research center to take charge of research on overseas investment opportunities. The team is focusing its research on industries that have a good chance for development in connection with the new industrial revolution, especially those related to ICT.
The company will sign an MOU on cooperation with Seoul National University for its service to recommend tailor-made investment products and conduct research to predict share price movements. The company will soon unveil the model it developed using Big Data to ensure that it’s more correct than those used in the past.
Mirae Asset Daewoo will launch a prime brokerage service in the United States in March at the earliest. It will be a first among Korea's securities firms.
According to industry sources on Feb. 19, Mirae Asset Daewoo's New York business unit recently acquired approval for the launch of a prime brokerage service operation from the U.S. Financial Industry Regulatory Authority.
The New York unit had applied for approval of the service in September 2016. After establishing IT systems, the New York affiliate will launch the service in March or April this year. A prime brokerage service refers to a variety of services needed for the operations of hedge funds, including credit provision, consulting and securities lending and borrowing.
The total assets under management of the U.S. hedge funds is estimated at around $3 trillion as of the end of last year, about 500 times more than total Korean assets. Mirae Asset Daewoo provided financial support worth about 300 billion won to its New York unit last year to help the launch of the prime brokerage service.
Mirae Asset Daewoo took part in the unit's 113.2-billion-won capital increase in April 2016 and injected an additional fund of 177.9 billion won in November 2016.
Mirae Asset Daewoo Securities Co., South Korea’s top securities firm, bought the German headquarters of British multinational telecommunications company Vodafone Group Plc. for about 350 billion won ($303 million), the first overseas investment under merged entity from December last year.
Armed with equity capital of around 7 trillion won, it has been aggressively seeking for investment opportunities both at home and abroad. According to sources from the investment banking industry on March 6, Mirae Asset Daewoo Securities won the priority right to negotiate the deal to take over Vodafone Campus located in Dusseldorf.
Mirae Asset Daewoo Co., Ltd. was founded in 1970 and is based in Seoul, South Korea. After establishing a sterling reputation in the brokerage market, Mirae Asset Daewoo pioneered the development of wealth management services in Korea, launching new financial products such as installment-type funds.
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