Executive Vice Chairman Choi Hyun-man of Mirae Asset Daewoo. (Photo: Mirae Asset Daewoo)

In 2020, Mirae Asset Daewoo enjoyed record-high sales in the wake of the COVID-19 crisis with differentiated risk management, the ability to deal with crises and a balanced profit structure.

By focusing on expanding customer assets through global asset allocation, the company crossed 330 trillion won in customer assets, 15 trillion won in overseas stock, and 17 trillion won in pension assets for the first time in the history of the Korean securities industry.

In addition, Mirae Asset Daewoo came first in overall annual DC and IRP return in pension asset management.

The Korean Ministry of Employment and Labor selected the company as an excellent operator of retirement pensions through evaluations.

Mirae Asset Daewoo also showed outstanding performance in ESG management.

The company broke into the Dow Jones Sustainable Management World Index for the ninth consecutive year as it was highly recognized for its early recognition of corporate social responsibility and taking the lead in ESG management.

“We declared ‘G.R.O.W.T.H’ strategy based on challenge and innovation to become a global top-tier investment bank (IB) beyond Korea,” said Choi Hyun-man, executive vice chairman of Mirae Asset Daewoo, said on Jan. 4. ‘G.R.O.W.T.H’ stands for Globalization, Risk Management, Opportunity, Wealth Management, Technology and High Quality. Daewoo Mirae Asset aims to contribute to society through finance.

In his New Year’s message, Choi revealed a total of six ways which Mirae Asset Daewoo will focus.
First of all, Choi called on employees to strengthen the growth momentum of global businesses and further strengthen synergies with overseas companies by actively utilizing its own global network at a time when it is difficult to go directly to overseas markets due to the COVID-19 pandemic.

“First, we will pursue globalization,” Choi said. “With the COVID-19 pandemic showing no sign of subsiding, our global network is definitely a differentiated competitive edge. Let’s strengthen the growth momentum for our global business.”

Next, Mirae Asset Daewoo will further consolidate its risk management system and examine its risk management process once again. “We will have to carry out all tasks thoroughly based on risk management, and we will always have to check both profits and risks,” Choi said.

“The second is risk management,” Choi said. “Let’s strengthen our risk management system and observe the process again. Carry out business activities based on thorough risk management. We always have to pay much attention to risk as well as revenue.”

Mirae Asset Daewoo will actively create new opportunities for growth. “The third point is opportunities,” Choi continued.

“We can succeed or fail, but if we don’t challenge, we will fail 100 percent. The securities industry is a growing industry and new opportunities are arriving. Let’s create new growth opportunities. Don’t be afraid of failing after finding an opportunity. Make a bold attempt.”

Choi also mentioned the importance of enhancing the company’s wealth management (WM) business.

As customer funds are moving from bank deposits to investment assets due to ultra-low interest rates maintaining in the long term, it is necessary for Mirae Asset Daewoo to continue to expand global asset allocation services such as overseas stocks and ETFs to customers as an investment expert, according to Choi.

“The fourth issue is wealth management,” Choi continued. “As a prepared investment expert, let’s continue to expand global asset allocation services such as overseas stocks, ETFs, REITs. I also suggest strengthening our consulting-based asset management business structure by dramatically improving the quality of our VIP business and fostering our fee-based businesses such as pensions.”
Choi stressed that Mirae Asset Daewoo had to accelerate digital transformation.

“The fifth is technology,” Choi added. “We have to expedite digital transformation while making 2021 the first year of Digital Mirae Asset Daewoo. Let’s grow our digital assets and speed up our digital transformation to boost our competitiveness in the future. We need to revamp our entire organization in terms of human resources, processes, corporate cultures to bring true innovation to Mirae Asset Daewoo.”

Finally, Choi proposed that employees make Mirae Asset Daewoo a company that can impress customers and make employees feel proud by pursuing high quality in all of its business areas such as customer services, organization management and ESG management.