Chairman Park Hyun-joo of Mirae Asset Daewoo. (Photos: Mirae Asset Daewoo)]

Mirae Asset Daewoo is the biggest securities company in Korea, boasting equity capital worth 9.5 trillion won. Mirae Asset Daewoo is the first company in the Korean financial investment industry to come close to breaking through the 10 trillion equity capital milestone.

Mirae Asset Daewoo Group is forecasted to come into its own as investments are essential in an era of super low interest rate.

Mirae Asset Daewoo also ranked first in terms of business performances.

The financial service provider logged 304.1 billion won in net profit in the second quarter of the year, a 184 percent jump over 2020 Q1. The Q2 net profit was its best-ever quarter since the merger between Mirae Asset Securities and Daewoo Securities.

The figure turned out to be a kind “earnings surprise,” surpassing more than half of the consensus among securities analysts.

Mirae Asset Daewoo posted a net profit of 411.2 billion won. Mirae Asset Daewoo's earnings surprise was owed to a surge in revenues from commission fees on stock trading on the back of individual investors’ highest-ever net stock purchases.

Mirae Asset Daewoo benefited from the explosive growth of trading of overseas stocks, on which higher commission fees are charged. Mirae Asset Daewoo become the industry’s first company to surpass 14 trillion won in the value of overseas stock assets.

The figure is bigger than the combination of overseas share assets held by the first and second runner-up Korean securities companies.

Mirae Asset Daewoo, which surpassed 1 trillion won in the value of overseas share assets in January 2017, saw the figure rise 14-fold since then.

Mirae Asset Daewoo’s overseas corporate entities across the global financial market also played a part in the biggest-ever business performance. Their revenue portion surged from 5 percent in 2017 to 19 percent in 2019. In the segment, Mirae Asset Daewoo makes a difference compared to other Korean securities companies.

Mirae Asset Daewoo’s overseas corporate entities chalked up 170.9 billion won in pre-tax net revenues last year, becoming the industry’s first company to surpass the 100 billion won milestone.

The figure accounted for more than 60 percent of the Korean securities industry’s total overseas net revenues.

They posted 103 billion won in net profit for the first half of the year, the industry’s first H1 such a performance of surpassing 100 billion won.

Mirae Asset Daewoo, which topped 9 trillion won in equity capital last year, has already surpassed 9.5 trillion won in the segment, walking almost side by side with global investment banks.

Mirae Asset Daewoo’s strengths lie in a balanced revenue portfolio in all businesses.

The financial service provider has outperformed than expected in areas such as Korean and overseas bonds, stocks, over-the-counter derivative products on top of various commission fee revenues.

Looking at 2020 Q2 revenue portions, Mirae Asset Daewoo’s asset management revenues accounted for 48.2 percent, followed by 289.6 percent in commission fees related to the trading of stocks on consignment, and 10.6 percent in corporate financing fees, 7 percent in fees of selling financial products and 5.7 percent in interest revenues.

A view of Mirae Asset Center in Jung-gu, Seoul.