Mirae Asset Daewoo, First Securities Firm to Surpass 2 Trillion KRW in IRP Contributions

Individual IRP Contributions Increase by 431.1 Billion This Year, Showing a High Growth Rate of 27%
Retirement Pension Contributions Reach 11 Trillion, Total Pension Assets Near 15 Trillion

[Asia Economy Reporter Song Hwajeong] Mirae Asset Daewoo announced on the 23rd that its Individual Retirement Pension (IRP) reserves have surpassed 2 trillion KRW for the first time in the securities industry.

Mirae Asset Daewoo's IRP reserves reached 2.0019 trillion KRW (as of the 18th), increasing by approximately 431.1 billion KRW in just over five months, marking a 27.4% growth compared to the end of the previous year.

With this, Mirae Asset Daewoo's total retirement pension reserves (DB, DC, IRP) stand at 10.9718 trillion KRW, approaching the 11 trillion KRW milestone, while the total pension assets including personal pensions amount to 14.7709 trillion KRW, nearing 15 trillion KRW.

This is the first time that individual IRP reserves in the entire securities industry have exceeded 2 trillion KRW.

The increase in reserves is attributed to Mirae Asset Daewoo's differentiated pension products, excellent returns, consulting expertise, and convenient infrastructure.

Mirae Asset Daewoo is the only retirement pension provider that allows trading of listed REITs (Real Estate Investment Trusts) within IRP accounts. As interest rates approach 0%, stable dividend investments through real estate REITs have gained popularity, leading to rapid growth in new funds. Additionally, with recent market volatility, the fact that there are no separate trading fees for trading ETFs (Exchange-Traded Funds) within IRP accounts and the ability to trade timely have increased the number of clients managing assets through ETFs.

Kim Ki-young, Head of the Pension Solutions Division at Mirae Asset Daewoo, stated, “Due to the COVID-19 pandemic limiting face-to-face sales, supplying differentiated pension products that meet customer demand and managing returns have become more important than ever. All employees are pursuing stable returns and risk management through balanced portfolio construction based on asset allocation capabilities and regular consultations for rebalancing.” He added, “We are dedicated to improving customer returns through analyzing long-term pension account performance cases and sharing know-how.”

As of the end of the first quarter, Mirae Asset Daewoo ranked first in the industry for IRP dividend yield performance over the past year, and its non-face-to-face pension asset management team, the Pension Asset Management Center, has strengthened its workforce with about 20 employees providing highly specialized consulting.

This content was produced with the assistance of AI translation services.