By Park Jin-hai
Mirae Asset Financial Group has received the Best Company Award from a renowned academic organization for its efforts to expand overseas.
At the 17th Korean Academic Society of Business Administration’s annual award ceremony last week, Mirae Asset got the top prize for the first time as a financial institution.
The society has presented the award each year since 2003 to companies that have contributed to national economic development.
“It seems that the judges have given us high points for our growth in the global financial market, competing against overseas rivals,” said Park Hyeon-joo, chairman and founder of Mirae Asset, during the ceremony, where more than 1,500 people from academic circles gathered.
Mirae Asset, since its establishment in 1997, is taking the lead in implementing innovation in the financial market. With the adoption of open-end mutual funds and alternative investment funds, the company has changed the local investment market environment, while spearheading the globalization of local financial institutions.
Starting from its Hong Kong office in 2003, the company now has offices in 12 countries, elevating it to the status of a global financial firm. The company’s Asia funds that sell in 28 countries are popular among investors from all over the world thanks to their competitiveness. Morningstar, a global investment information provider, awarded a 5 Star grade to them.
Its Asian funds attracted more than 1.8 trillion won ($1.7 billion) from global investors last year.
Asked about the company’s overseas business expansion, Park said, “Our goal of increasing the wealth of customers and the nation with asset management cannot be achieved without entering the global market.
“To manage customers' pension funds and give stable future planning for them, it is a prerequisite for financial institutions to gain the ability to allocate customers’ assets in a global market.”
Highlighting the importance of pension funds, Park said core competitiveness comes from securing quality assets in the pension fund market.