Mirae Asset Chair Park Hyeon-joo and 350 key executives of Mirae Asset India pose for photos at a ceremony held to mark 100 days since the firm's acquisition of Indian brokerage house Sharekhan Limited, in Mumbai, India, March 12. (Mirae Asset Securities)
Mirae Asset Chair Park Hyeon-joo and 350 key executives of Mirae Asset India pose for photos at a ceremony held to mark 100 days since the firm's acquisition of Indian brokerage house Sharekhan Limited, in Mumbai, India, March 12. (Mirae Asset Securities)

Mirae Asset Financial Group has surpassed 1,000 trillion won ($720 billion) in assets under management, with more than a quarter of its portfolio operated overseas.

The company announced Monday that its total assets under management had reached 1,024 trillion won as of the end of July. Of that, 752 trillion won is managed domestically, while the remaining 272 trillion won, roughly 25 percent, is managed in overseas markets.

By affiliates, brokerage firm Mirae Asset Securities, managed assets of 549 trillion won, while its asset manager, Mirae Asset Global Investments, operated assets amounting to 430 trillion won.

The group noted it was able to pass the 1,000 trillion won milestone only eight months after hitting 906.6 trillion won at the end of last year, attributing its rapid growth largely to its bold global expansion.

The group operates 52 foreign subsidiaries and offices in 19 regions with roughly 16,000 staff members.

Mirae Asset Financial Group founder and Chair Park Hyeon-joo has stressed global expansion on multiple occasions, noting that “Korean companies must contribute to national wealth through overseas presence and enter the global market through bold expansion and mergers and acquisitions,” the firm explained.

In the first six months of this year, Mirae Asset Financial Group secured 1.43 trillion won in profit before tax based on the simple sum of affiliates, of which 477.6 billion won, or 33 percent, was generated from overseas businesses.

Separately, Mirae Asset Securities’ overseas subsidiaries posted a pretax profit of 223.8 billion won in the first half of this year, with the US unit achieving record-high results in the fourth quarter of last year.

Mirae Asset Global Investments manages a total of 232 trillion won in exchange-traded funds worldwide, exceeding the size of the entire domestic ETF market, which stands at approximately 226 trillion won. It ranks 12th among global ETF managers.

“Based on our client-first motto, we will leverage our industry-leading global network to provide clients with differentiated investment opportunities,” an official from Mirae Asset Financial Group said. "We will continue striving for long-term growth and strengthen our position as a global investment specialist."


silverstar@heraldcorp.com