Mirae Asset Group is expanding into global and digital asset markets, cementing its standing as a full-service financial investment group. Industry observers say the push reflects the "client first" philosophy of Chairman Park Hyeon-joo, who has pressed the group to hold its lead in its core investment banking business while selecting a broader range of investment assets to help clients at home and abroad grow their wealth.
Mirae Asset Securities' Hong Kong unit recently launched Korean stock trading on MAPS, its global investment platform, according to financial investment industry sources on the 26th. Hong Kong investors can now buy and sell Korean shares on a single platform. It is the first time foreign investors have been able to invest directly in Korean stocks through a system built in-house by a Korean brokerage.
MAPS, which Mirae Asset unveiled in June this year, is designed to allow trading of both traditional and digital assets on one mobile platform. The group moved early to build a platform that covers not only conventional investments such as equities but also virtual assets. Mirae Asset Securities' Hong Kong unit had focused on developing related services after winning approval for a digital asset retail license from Hong Kong's Securities and Futures Commission (SFC). "Volatility in the Korean stock market has increased recently, but foreign investors remain highly interested in semiconductor stocks," a person familiar with the matter said. "Now that Mirae Asset Securities has the infrastructure in place, foreign investment in the Korean market should also expand."
Analysts say the move will accelerate Park's distinctive management strategy of creating an environment in which investors can put money into a wide range of assets anytime and anywhere. Until now, Korean brokerages have run omnibus account services for foreign investors in partnership with local firms overseas, and expectations are high that Mirae Asset Securities' case will establish itself as a leading example of "reverse exporting" the Korean stock market.
