Mirae Asset Financial Group () is a South Korean multinational

financial services Financial services are service (economics), economic services tied to finance provided by financial institutions. Financial services encompass a broad range of tertiary sector of the economy, service sector activities, especially as concerns finan ...

company headquartered in Seoul, South Korea. Mirae Asset provides comprehensive financial services including

asset management Asset management is a systematic approach to the governance and realization of all value for which a group or entity is responsible. It may apply both to tangible assets (physical objects such as complex process or manufacturing plants, infrastr ...

wealth management Wealth management (WM) or wealth management advisory (WMA) is an investment advisory service that provides financial management and wealth advisory services to a wide array of clients ranging from affluent to high-net-worth (HNW) and ultra-hi ...

investment banking Investment banking is an advisory-based financial service for institutional investors, corporations, governments, and similar clients. Traditionally associated with corporate finance, such a bank might assist in raising financial capital by und ...

, and

life insurance Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more parties. A contract typical ...

. Mirae Asset was founded by Hyeon Joo Park in 1997 and introduced the first mutual funds to Korean retail investors in 1998. On a global consolidated basis, the total group’s client assets exceed US$550 billion (as of December 2020). Mirae Asset has a global presence in Australia, Brazil, Canada, Mainland China, Hong Kong, Colombia, India, Indonesia, Japan, Korea, Mongolia, Singapore, the United Kingdom, the United States, and Vietnam.

Harvard Business School Harvard Business School (HBS) is the graduate school, graduate business school of Harvard University, a Private university, private Ivy League research university. Located in Allston, Massachusetts, HBS owns Harvard Business Publishing, which p ...

selected Mirae Asset Financial Group as its first Asian financial company case study in 2010, under the title “Mirae Asset: Korea’s Mutual Fund Pioneer".

Seoul National University Seoul National University (SNU; ) is a public university, public research university in Seoul, South Korea. It is one of the SKY (universities), SKY universities and a part of the Flagship Korean National Universities. The university's main c ...

also selected Mirae Asset Financial Group as one of their case studies, "Mirae Asset: A Disruptive Innovator in the Korean Financial Industry", which is listed by The Case Centre

case method The case method is a teaching approach that uses decision-forcing cases to put students in the role of people who were faced with difficult decisions at some point in the past. It developed during the course of the twentieth-century from its or ...

clearinghouse.

History

Foundation of Mirae Asset Financial Group

Park Hyeon-Joo founded Mirae Asset Global Investments and Mirae Asset Capital in June 1997. In December 1998, Park launched the first retail mutual fund, “Park Hyeon Joo No.1” in South Korea and The Journal of Investment & Pension described that this fund was a great success.

Mergers and acquisitions of Mirae Asset Financial Group

Park has grown Mirae Asset Financial Group into an independent financial conglomerate in South Korea by successfully acquiring many financial companies with his contrary investment philosophy and insights. *2004.02 Acquired SK Investment Trust Company, an affiliate of

SK Group SK Group () is a South Korean multinational manufacturing and services conglomerate headquartered in Seoul. A chaebol (Korean family-owned conglomerate), SK Group is the second largest such conglomerate by revenue in South Korea, after Samsun ...

*2005.06 Acquired SK Life Insurance, an affiliate of

*2011.11 Acquired Horizons ETFs, a major ETF player in Canada *2011.11 Acquired Betashares, a major ETF player in Australia *2016.12 Merge and acquisition of Daewoo Securities and

Mirae Asset Securities Mirae Asset Securities Co., Ltd. () is the largest investment banking and brokerage firm, stock brokerage company by market capitalization in South Korea. Mirae Asset Securities has been merged with Daewoo Securities as the end of December 2016. ...

*2016.12 Acquired KDB asset management company, formerly owned by

Korea Development Bank Korea Development Bank (KDB Bank) is a South Korean state-owned development bank which aims to encourage the industrial development of South Korea. It was founded in 1954 in accordance with The Korea Development Bank Act to finance and manage ...

*2017.07 Invested Vietnamese life insurance company, PRÉVOIR *2017.12 Acquired Korea-based PCA Life Insurance *2018.07 Acquired Global X, US ETF company *2024.11 Acquired Sharekhan Indian Brokerage company

Global expansion and presence of Mirae Asset Financial Group

Founder Park always had in mind to expand the business globally since the early stage and is regarded as a global forerunner in the South Korean financial industry.

Key affiliates

Mirae Asset Global Investments

Mirae Asset Global Investments is the leading asset management company in South Korea. Subsidiaries: * Global X ETFs * Global X Investments Canada

Mirae Asset Securities

offers brokerage services, wealth management, investment banking, and sales & trading services. It is listed on

KOSPI The Korea Composite Stock Price Index or KOSPI () is the index of all common stocks traded on the Stock Market Division—previously, Korea Stock Exchange—of the Korea Exchange. It is the representative stock market index of South Korea, anal ...

Mirae Asset Life Insurance

Mirae Asset Life Insurance offers life insurance, investment-linked insurance, financial consulting, and retirement planning services. It has been listed on

since July 2015.

Mirae Asset Venture Investment

Mirae Asset Venture Investment Co., Ltd. is a venture capital and private equity company specializing in investing in venture businesses with potential growth, incubation, buyouts, and cross-border investments. It has been listed on

KOSDAQ The Korean Securities Dealers Automated Quotations (KOSDAQ; ) is a trading board of Korea Exchange (KRX) in South Korea established in 1996. Initially set up by Korea Financial Investment Association as an independent stock market from the Korean ...

since March 2019.

References

External links

* {{Major asset management companies Companies based in Seoul Exchange-traded funds Financial services companies established in 1997 Insurance companies of South Korea Investment management companies of South Korea Life insurance companies Private equity firms of Asia-Pacific South Korean companies established in 1997 Asset management companies