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Mirae Asset Financial Group

Financial services group

Financial services group

FieldValue
nameMirae Asset Financial Group
logoFile:Mirae Asset Logo.svg
typePrivate
industryFinancial services
foundation
founderPark Hyeon-Joo
locationSeoul, South Korea
aumbillion (2025)
num_employees15,997 (2025)
products
homepage
imageDWJ 7665.jpg

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 (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 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

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
  • 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:

  • Global X ETFs
  • Global X Investments Canada

Mirae Asset Securities

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

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 KOSPI 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 since March 2019.

References

References

  1. "Total AUM".
  2. Kim, Jae-won. (2009-12-09). "Harvard Business School to Study Mirae Asset Group".
  3. (June 2011). "Mirae Asset: Korea's Mutual Fund Pioneer". Harvard Business School.
  4. (2017-07-24). "Mirae Asset: A Disruptive Innovator in the Korean Financial Industry". Graduate School of Business, Seoul National University.
  5. "Mirae Asset's focus on global emerging markets - Asia Asset Management - The Journal of Investments & Pensions".
  6. "South Korea: Mirae Asset Buys SK Life".
  7. "Mirae eyes bid to keep SK Life in Korean hands".
  8. (2011-11-14). "Mirae Asset Completes Acquisition of 85% Stake in Horizons ETFs".
  9. NexChange. "Mirae's Park Hyeon-joo to take control of Daewoo Securities {{!}} NexChange".
  10. "Mirae Asset Daewoo, Mirae Asset Securities complete merger".
  11. "Mirae Asset Daewoo (Korea): Merger with Mirae Asset Securities (Korea) - Changes in FTSE4Good Index Series".
  12. (12 December 2016). "Mirae Asset Daewoo (Korea): Merger with Mirae Asset Securities (Korea) Changes in FTSE4Good Index Series".
  13. (25 January 2016). "Bloomberg - Mirae Asset Buy $2 Billion Stake in Daewoo Securities". Bloomberg.com.
  14. "Stocks".
  15. (2017-07-05). "S.Korea's Mirae invests $48.4 mln in Vietnamese insurance firm". Reuters.
  16. (2017-06-26). "BRIEF-MIRAE ASSET Life Insurance to merge with PCA Life Insurance". Reuters.
  17. "Mirae Asset Life's acquisition of PCA Life clears regulatory hurdle - Pulse by Maeil Business News Korea".
  18. (2018-08-28). "Mirae Asset secures foothold in overseas ETF business".
  19. (2022-06-15). "Mirae Asset Global Investments and Global X acquire ETF Securities".
  20. "Mirae Asset Financial Group Completes Acquisition of Sharekhan".
  21. "benefícios FISCAIS NO ESPÍRITO SANTO.".
  22. (2019-03-26). "Mirae Asset to expand presence in Asia: founder says in letter to employees".
  23. "Korea's Mirae Asset Group to enter Japan for bigger global outreach - Pulse by Maeil Business News Korea".
  24. "Bloomberg - Stock Quotes".
  25. "S.Korea's Mirae Asset Life Insurance to raise $307 mln in July IPO". U.S..
  26. www.etnews.com. (2019-02-28). "Many Major South Korean Companies Expected to Go Public in March".
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