Mirae Asset Financial Group
Mirae Asset Financial Group is a South Korean multinational financial services company headquartered in Seoul, South Korea. Mirae Asset provides comprehensive financial services including asset management, wealth management, investment banking, and life insurance. 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. 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 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 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 clearinghouse.
History
Foundation of Mirae Asset Financial Group
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
- 2005.06 Acquired SK Life Insurance, an affiliate of SK Group
- 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
- 2016.12 Acquired KDB asset management company, formerly owned by Korea Development Bank
- 2017.07 Invested Vietnamese life insurance company, PRÉVOIR
- 2017.12 Acquired Korea-based PCA Life Insurance
- 2018.07 Acquired Global X, US ETF company
- 2022.06 Acquired ETF Securities Australia, an Australian 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: