Mirae Asset Securities' Overseas Stock Holdings Increase by Over 10 Trillion Won This Year... Leading Financial Exports

Mirae Asset Securities is transforming into a 'financial export leader' through active overseas business expansion. This year alone, its overseas stock holdings have increased by about 10 trillion KRW. Mirae Asset Securities plans to earn more than 50% of its total revenue from overseas markets in the mid to long term.

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According to Mirae Asset Securities on the 1st, as of the 11th of last month, the balance of overseas stock holdings was recorded at 33.8 trillion KRW. This represents an increase of 10.2 trillion KRW compared to the end of last year.

Mirae Asset Securities' overseas stock balance has shown continuous growth since starting at 1 trillion KRW in January 2017 and surpassing 20 trillion KRW in April 2021, finally exceeding 30 trillion KRW in June this year. Overseas stocks increased by 10.2 trillion KRW this year alone, and during the same period, customers' unrealized gains on overseas stocks rose by approximately 8.7 trillion KRW.

Mirae Asset Securities has shown continuous growth in overseas business since Chairman Park Hyun-joo of Mirae Asset Group, who actively promoted overseas expansion, was appointed as Global Strategy Officer (GSO) in April 2018. Currently, Mirae Asset Securities operates 12 local overseas subsidiaries and 3 offices, holding the largest overseas network among 14 domestic securities firms that have successfully expanded abroad. The overseas subsidiaries' equity capital of Mirae Asset Securities amounts to about 4.5 trillion KRW. In 2020, it became the first in the industry to surpass 200 billion KRW in annual pre-tax net profit overseas, and in 2021, it achieved 243.2 billion KRW, setting a record of exceeding 200 billion KRW in pre-tax net profit for two consecutive years.

In particular, last year, Mirae Asset Securities actively targeted the Indian market, which has emerged as the 'post-China' investment hub, by acquiring a local securities firm to expand its presence. Mirae Asset Securities' India subsidiary surpassed 1.6 million retail customer accounts and, after launching the online trading platform 'm.Stock' in April 2022, rapidly rose to 9th place among local online securities firms and 16th overall within 26 months, establishing itself as the fastest-growing securities firm in India. The India subsidiary processes an average daily trading volume of 2.2 million transactions and, as of the end of June, holds approximately 1.0625 trillion KRW in total customer assets under management (AUM) and about 267.8 billion KRW in margin trading finance (MTF). Mirae Asset Securities India plans to launch 'm.Stock 2.0' this year and aims to accelerate customer acquisition by providing enhanced customer services.

A representative of Mirae Asset Securities stated, "Despite the continuous challenges in the global business environment due to inflation and interest rate hikes, we are laying the foundation for long-term growth by expanding overseas business with our customers and continuing investments in innovative companies." He added, "Mirae Asset Securities will continue its challenge to secure a business super-gap by earning more than 50% of total revenue overseas and to leap forward as a global top-tier investment bank (IB)."

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