Lee Min-hyung joined The Korea Times in 2014 and has worked as a journalist mainly in Korea’s finance, tech and automotive industry. He specializes in content creation, breaking news and in-depth analysis currently on transportation and mobility. You can reach him via mhlee@koreatimes.co.kr.
Mirae Asset Securities wins awards from Hong Kong exchange
Seen above is a congratulatory message for awards given to Mirae Asset Securities' Hong Kong branch. Courtesy of Mirae Asset Securities
By Lee Min-hyung
By Lee Min-hyung
Mirae Asset Securities has won multiple awards from Hong Kong Exchanges and Clearing (HKEX) for its outstanding transaction volume growth there, the company said Monday.
According to the leading brokerage house here, Mirae Asset's Hong Kong branch won two awards from the HKEX: Top Breakthrough Broker-ETF Turnover and Top Participating Dealer-ETF Creation & Redemption.
The ETF transaction volume of the firm's Hong Kong branch achieved threefold growth last year from the previous year.
“The awards show that our ETF investment has generated excellent outcomes, and we will be able to raise our profile further from market participants of the HKEX,” an official from the company said.
“We are going to do our utmost to raise our reputation as a global investment company, and expand our capability into all possible ETF business areas.”
Mirae Asset Securities is going all out for its global expansion, actively engaging in a series of overseas investments. As of the end of 2021, the company was operating 12 overseas branches, with a focus on the Asian market.
The company generated an operating profit of around 610 billion won in Asia last year. Of particular note was that more than half of the revenue came from the Hong Kong market.
Mirae Asset operates a diverse set of financial services in the Asian financial hub, such as wealth management and derivative product sales. The company said it would come up with more business models there to reduce its reliance on the Korean market.
Even if Korean securities' firms have so far shown weak sales performance in overseas markets, compared to their major global competitors, Mirae Asset Securities aims to enhance its brand value gradually in major Asian markets such as Hong Kong, and widen its revenue streams there, according to the company.