Chairman Park Hyeon-joo of Mirae Asset Daewoo Group. (Photos: Mirae Asset Daewoo)

Mirae Asset Daewoo said its sales through the third quarter amounted to 3.989,7 trillion won and net profit reached 137.7 billion won, up a whopping 81 percent YoY.

Analysts say the results point to rising global investment in the months ahead, backed up by its growth in operation, including its capital, which amounts to 9 trillion won, topping the securities industry.

The Q3 net profit showed a decline of 37.2 percent compared to the preceding quarter (219.4 billion won), but it is considered reasonable considering the tough problems that faced the industry of late, including DLF problems and cuts in early repayment of ELS, forcing most of the securities firms to see their Q3 net profits down from the Q2.

Mirae Asset Daewoo on Aug. 8 reported a record net income of 357.8 billion won ($320 million) in the first half of this year on strong performance of its investment banking division and improved profitability overall.

The firm’s operating profit and EBIDTA were 427.6 billion won and 435.5 billion won, respectively, both record figures. Especially its IB division saw its earnings exceed the 100 billion won mark for the first time.

Amid its big push for global expansion, earnings from overseas investment and global operations around the world made up 27 percent of its total net income during the cited period, which compared to last year’s 19 percent.

Since former Chairman Park Hyun-joo took office as chairman of Mirae Asset Daewoo Hong Kong, the firm’s global headquarters, in May this year, the firm has been aggressively purchasing overseas properties and stakes in promising tech firms, worth more than 1.6 trillion won in the first half alone.

Its key purchases include the Cosmopolitan hotel in Las Vegas in a 106.4 billion won mezzanine debt and Cannon Bridge House in London for 370 billion won.

In a strategic partnership with internet giant Naver, the firm has also invested a combined 280 billion won in China’s ride-sharing firm Didi Chuxing in April as part of their joint fund worth 1 trillion won for investing in tech startups in Asia.

Mirae Asset Daewoo, formerly Daewoo Securities, is a Korea-based financial service provider specializing in securities market. The company is mainly engaged in the securities brokerage, dealing, and underwriting businesses.

Its financial service covers stocks, futures, options, government bonds, corporate bonds, foreign exchanges and financial derivative products.

The company is also engaged in the consulting, investment banking, wealth management and other financial related businesses.

A view of Cosmopolitan Hotel in Las Vegas, that the group bought from Blackstone last year.

A view of Canon Bridge House in London owned by Mirae Asset Group.