Mirae Asset Global Investments Posts H1 Net Profit of 369.4 Billion KRW... "Largest Half-Year Performance"

[Asia Economy Reporter Minji Lee] Mirae Asset Global Investments announced on the 17th that it recorded its highest-ever half-year performance with a net profit of 369.4 billion KRW and consolidated operating profit of 228.4 billion KRW in the first half of the year.

The overseas subsidiaries posted a net profit of 232.5 billion KRW and operating profit of 93.3 billion KRW for the half-year period, marking record highs. Assets under management (AUM) of overseas subsidiaries showed rapid growth, increasing approximately sixfold from 13.98 trillion KRW at the end of 2016 to 81.5563 trillion KRW at the end of the second quarter this year.

By subsidiary, the AUM of the U.S. subsidiary, which was only 404 billion KRW at the end of 2016, grew to 41.8696 trillion KRW in the first half of this year. In the Canadian market, it expanded from 5.7911 trillion KRW to 17.1237 trillion KRW, and in Hong Kong, from 2.7268 trillion KRW to 8.5810 trillion KRW.

The domestic subsidiary recorded a half-year net profit of 181.8 billion KRW and operating profit of 140.1 billion KRW, marking the highest half-year figures. Centered on exchange-traded funds (ETF) and target date funds (TDF), 11 trillion KRW flowed in, and net assets were recorded at 151 trillion KRW as of the end of the second quarter.

Mirae Asset Global Investments stated, “With the expansion of the global market, the performance of overseas subsidiaries continues to trend upward,” adding, “Both domestic and overseas subsidiaries recorded their highest half-year results.”

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