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

Mirae Asset Securities is the first company in the Korean securities industry to achieve 10 trillion won in equity capital. Its explosive growth has been driven by differentiated global businesses.

Mirae Asset Securities is leading the global financial business by achieving differentiated business performances by its overseas subsidiaries despite difficult business environments sparked by the COVID-19 pandemic.

As of the end of the first half of last year, Mirae Asset Securities posted an operating profit of 853.4 billion won and a pre-tax net profit of 879.1 billion won, with its equity capital of 10.14 trillion won.

Mirae Asset Securities was established in December 1999 with capital of 50 billion won. The company has grown 200 times in about 20 years and secured global competitiveness.

As a result, financial industry watchers say that it is on par with global investment banks in the global capital market.

One of the factors which improved Mirae Asset Securities’ business performance was an explosive increase in overseas subsidiaries’ earnings.

Its overseas subsidiaries achieved pre-tax net profit of 170.9 billion won and 10 billion won in 2019 and 2020, respectively.

As of the first half of this year, their pre-tax net profit is expected to surpass 180 billion won, surpassing that of last year.

Analysts say that their business results are quite meaningful in that the business results were produced in the overseas financial investment sector where Korean financial companies have not performed well.

Mirae Asset Securities’ strong global performances were largely attributable to leadership based on an enterprising spirit and innovation, which founder Chairman Park Hyun-joo has emphasized.

Even when Mirae Asset Securities was launched, Chairman Park expressed his ambition to change the base of the Korean financial industry and the Korean capital market, expressing his will to grow Mirae Asset Securities into a global investment bank.

Chairman Park is currently focusing on global business by serving as global chairman and global investment strategy officer at Mirae Asset Securities’ Hong Kong subsidiary.

Mirae Asset Securities has the largest number of overseas corporations and offices — 11 overseas corporations and three offices — among Korean securities firms.

The company is conducting stable and balanced global business through regional specialized strategies by harnessing overseas business know-how which it has accumulated for a long time.

Its Indonesian subsidiary is maintaining its No. 1 position in terms of market shares in the Indonesian stock market by launching the first Home Trading System and Mobile Trading System in Indonesia.

In addition, considering the regional characteristics of Hong Kong, New York, and London, overseas subsidiaries have succeeded in localization in various sectors such as brokerage, wealth management and IB and are enjoying stable growth in these cities.

They are expected to account for a larger portion of Mirae Asset Securities’ profits in the future.

In the meantime, Mirae Asset Securities announced on Oct. 5 that it will hold the 30-Combo Challenge Event until the end of 2021.

In this event, customers will directly select domestic stocks whose stock prices are expected to rise before 8:30 a.m. every day.

If prices of the selected stocks rise or remains steady compared to the previous day, prizes will be given to those who select them when they pick such stocks for five, ten, 20 and 30 consecutive days.

In particular, if and when customers achieve 30 combos without failing even once, they will share up to 100 million won in prize money. Any individual customer can participate in the event.

If only one customer accomplish the feat, he or she will be able to take all of the prize money.

“Customers can participate in the 30-Combo Challenge Event like an investment game,” a Mirae Asset Securities official said.

“The event will offer participants a good opportunity to have interest in investment or learn about investment. We will continue to plan and hold various events with easy and fun elements.”