Mirae Asset Securities Honored as Excellent IB of 2021 by Korea Exchange

The Korea Exchange selected Mirae Asset Securities as the best investment bank in the stock market in 2021 and awarded it at its headquarters in Yeouido, Seoul on March 8. From the left, Sohn Byung-doo, chairman of the Korea Exchange, Choi Hyun-man, chairman of Mirae Asset Securities, and Lim Jae-joon, head of the Korea Exchange Securities Market Division. (Photo: KRX)

The Korea Exchange selected Mirae Asset Securities as the Best Investment Bank (IB) of 2021 in a ceremony held at the company’s headquarters in Yeouido, Seoul on March 8.

The exchange is seeking to promote initial public offerings (IPOs) on the stock market by selecting representative companies with excellence in IPO management.

The Korea Exchange comprehensively took into account market contributions, such as candidate companies’ listing records on the securities market and the appropriateness of their IPO business, in setting up selection criteria.

Mirae Asset Securities, Korea Investment & Securities and NH Investment & Securities have been named as excellent IBs over the past five years.

“Last year, the Korea Exchange could achieve the best results in the history of the KOSPI IPO market as IBs faithfully managed all of the processes from discovering blue-chip companies to listings,” said Sohn Byung-doo, chairman of the exchange.

“The Korea Exchange will earn more trust from people and contribute to the advancement of the Korean stock market by continuing to strive to revitalize listings and making endeavors for listing management to protect shareholder rights this year,” Sohn said.

Certificate of Financial Ethics

Mirae Asset Securities held a ceremony to award certificates of financial ethics with the Korean Association of Financial Consumers at the Four Seasons Hotel in Seoul on Feb. 25.

The event began with a greeting from Mirae Asset Securities Chairman Choi Hyun-man. Mirae Asset Securities gave the certificate of excellence to employees.

Presentations were also made in cases of course operation. Lastly, they held a symposium on financial consumer protection and financial ethics.

Mirae Asset Securities introduced the industry’s first financial ethics certification system in June last year after declaring a group-level customer protection statement that all Mirae Asset Securities employees will re-establish customer-centered work ethics.

Mirae Asset Securities developed its own curriculum for the financial ethics certification system based on various actual cases at its places of business.

It then conducted an enterprise-wide financial ethics certification process in January after verification and reviews by the Korean Association of Financial Consumers which signed an ethics certification agreement with Mirae Asset Securities.

In particular, Mirae Asset Securities developed contents in a way that encourages employees’ voluntary participation in order to ramp up the effectiveness of education, thereby attracting more than 20,000 comments.

Stock-by-Stock Deposits for Overseas Stocks

Mirae Asset Securities announced on Feb. 21 that it will introduce a securities system (non-trading of overseas stocks) for each overseas stock.

Until now, Mirae Asset Securities customers needed 100-percent deposits to trade overseas stocks.

However, in the future, leverage trading will be possible by choosing a deposit system for each stock through which stock investors can trade overseas stocks with a differential deposit for each stock like domestic stocks.

For example, if a stock investor buys one million won worth of U.S. stocks, he needs all one million won in cash as a deposit so far.

However, by using a deposit selecting account for each stock, the deposit rate can be 20 percent, 30 percent, 40 percent, or 50 percent depending on a stock which he selected to invest in.

Thus, he can buy one million won worth of stocks with a minimum 200,000 won.

Mirae Asset Securities’ stock-by-stock deposit service zeroes in on boosting investor asset efficiency. Mirae Asset Securities customers can order foreign stocks not only with cash but also with domestic or overseas stocks.

The service accepts overseas stocks or combined deposits so customers can order stocks with cash and stock assets that can be traded online of countries subject to the combined deposit system.

Mirae Asset Securities brokers the trade of about 1,500 stocks (the highest number in the Korean securities industry) to which stock-by-stock deposits are applied. Financial soundness determines deposit ratios.