Mirae Asset Securities Opens Era of 10 Trillion Won in Equity Capital

[Asia Economy Reporter Song Hwajeong] Mirae Asset Securities, after becoming the first in the financial investment industry to achieve an operating profit of 1 trillion KRW in 2020, has reached 10 trillion KRW in equity capital in 2021.

Mirae Asset Securities announced its preliminary results for the second quarter of this year on the 5th, reporting that the controlling shareholder's equity capital on a consolidated basis reached 10.05 trillion KRW. This marks the realization of the era of 1 trillion KRW operating profit and 10 trillion KRW equity capital promised when Mirae Asset Securities acquired Daewoo Securities in December 2016.

Founded in December 1999 with a capital of 50 billion KRW, Mirae Asset Securities has grown 200 times over about 20 years, gaining global competitiveness and standing shoulder to shoulder with global investment banks (IBs) in the world capital markets beyond the Korean capital market.

Mirae Asset Securities' overseas subsidiaries led financial exports by achieving pre-tax net profits of 170.9 billion KRW and 201 billion KRW in 2019 and 2020 respectively, and this year, based on the first half, pre-tax net profit surpassed 180 billion KRW, expected to surpass last year's performance. This achievement is especially highly regarded as it was accomplished as the only domestic global IB in the financial investment industry, which is considered a financial export desert.

The second quarter results also recorded an operating profit of 434.3 billion KRW, pre-tax net profit of 479.6 billion KRW, and controlling shareholder net profit of 343.7 billion KRW, achieving the highest quarterly performance. These figures represent increases of 3.6%, 20.0%, and 18.0% compared to the previous quarter. On a half-year basis, operating profit was 853.4 billion KRW, pre-tax net profit 879.1 billion KRW, and controlling shareholder net profit 634.9 billion KRW, achieving industry-leading results.

With overseas subsidiaries surpassing 100 billion KRW in quarterly pre-tax net profit, customer assets exceeding 40 trillion KRW, continuous growth in wealth management (WM) assets, and increased earnings in corporate finance, Mirae Asset Securities broke its record for the highest performance since its founding in the first quarter again in the second quarter, setting new records for operating profit and pre-tax net profit.

Mirae Asset Securities has led the growth of Korea's capital market and securities industry through customer-centric management based on the philosophy of 'existing for customers' and relentless innovation. It has always been associated with the word 'first,' leading the capital market with Korea's first mutual fund sales, first wrap account launch, first private equity fund (PEF) recruitment, and first smartphone stock trading service launch. By presenting various investment and asset management methods such as installment funds, it successfully established a paradigm shift in asset management from 'saving' to 'investment,' from 'direct investment' to 'indirect investment,' and from 'products' to 'asset allocation.'

Mirae Asset Securities' progress has not been confined to the domestic market. Chairman Park Hyun-joo of Mirae Asset Group has continuously emphasized competition in the global market, starting overseas expansion from Hong Kong in 2003, and has completed a global network connecting global capital market flows by advancing into advanced markets such as the United States as well as emerging markets including China, Vietnam, and Brazil. Currently, it operates 77 domestic branches and 11 overseas subsidiaries and 3 offices in 10 regions worldwide, continuously providing investors with balanced global portfolios by utilizing this global network.

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