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 reports record earnings of W1.1 trillion in 2020
Mirae Asset Daewoo headquarters in Seoul / Courtesy of Mirae Asset Daewoo
By Lee Min-hyung
By Lee Min-hyung
Mirae Asset Daewoo has reported a record operating profit of 1.12 trillion won ($1 billion) for 2020, up 51.76 percent from the previous year, on robust sales in its overall businesses ― such as wealth management and investment banking ― the brokerage firm said in a preliminary earnings report released Friday.
This is the first time that a local securities firm's annual operating profit has surpassed 1 trillion won.
“We have achieved stable and solid sales performance at our major businesses,” an official from the company said.
Mirae Asset also reported annual sales of 16.89 trillion won during the same period, up 9.42 percent from a year earlier.
“We are going to keep carrying out thorough risk management and solidifying balanced revenue structures,” the official said.