Mirae Asset Capital logs record-high annual revenue under Lee's leadership

Mirae Asset Capital CEO Lee Man-hee / Courtesy of Mirae Asset Capital

By Anna J. Park

Mirae Asset Capital announced Monday that the firm logged an all-time high annual record revenue of 151.4 billion won ($124 million) last year.

Based on this, shareholders confirmed the consecutive reappointment of CEO Lee Man-hee for another year, at a meeting at the end of last month.

Known for his expertise in retail finance, Lee has been leading the firm since December 2018 when he was promoted to joint CEO. After starting his career as a private banker at Hana Bank, Lee joined Mirae Asset Securities in 2000 and played a key role there, and then the firm's capital subsidiary, during the past two decades.

Mirae Asset Capital explained that the record-high revenue was attributed to differentiated investment partnership strategies with local conglomerates in fast-growing industries.

Under Lee's leadership, the company has nurtured various types of investments, such as mezzanine investing, as well as strengthening its venture capital divisions, which boosted its growth in profits. The firm's joint partnerships with big tech platform companies such as Naver Financial also helped in the diversification of its business model and investment portfolios. As a result, the firm recorded 6.2 trillion won in capital growth last year, a 51-percent jump from the end of 2018, when it had 4.1 trillion won.

“Based on Mirae Asset Financial Group's innovative investment culture, we will continue to expand investment into fast-growing, venture companies. We will also contribute to nurturing the country's small- and medium-sized companies by focusing on supplying capital to them,” Lee said.