Mirae Asset Securities reported a sharp rise in profit last year, driven by strong performances from its overseas operations and bold investment gains from SpaceX-related holdings, the brokerage said Monday.
On a consolidated basis, Mirae Asset Securities posted net profit of 1.59 trillion won ($1.08 billion) last year, up 72 percent from a year earlier, while operating profit climbed 61 percent to 1.91 trillion won. Pretax profit rose about 70 percent on-year to 2.08 trillion won.
The brokerage’s assets under management reached 602 trillion won, advancing about 120 trillion won year-on-year, comprising 518 trillion won in domestic assets and 84 trillion won overseas.
Overseas subsidiaries delivered record earnings, with pretax profit totaling 498 billion won, taking up nearly a quarter of its total profit before taxes.
The figure brings Mirae Asset close to its goal of 500 billion won in overseas pretax profit by 2030, laid out in 2024 as part of a plan to boost corporate value.
In particular, the company’s New York subsidiary recorded an all-time high pretax profit of 214.2 billion won.
Mirae Asset’s principal investment remained profitable for a fourth consecutive quarter, generating 645 billion won in valuation gains and reinforcing the company’s push toward bolder investment opportunities rather than relying solely on simple brokerage commissions. The gains were largely attributed to skyrocketing valuations of SpaceX and xAI.
The firm’s annualized return on equity stood at 12.4 percent, marking the third consecutive quarter above 10 percent.
Backed by strong earnings, the brokerage house’s share price surged Thursday to a fresh high of 56,200 won during intraday trading. After touching the record high, the stock pulled back and closed daytime trading at 53,400 won, up 11.5 percent on the day.
silverstar@heraldcorp.com
