Mirae Asset becomes Korea's 1st financial firm to issue digital bonds

Headquarters of Mirae Asset Group, the parent company of Mirae Asset Securities, in downtown Seoul / Courtesy of Mirae Asset Securities

Mirae Asset Securities has become the first financial company in Korea to issue digital bonds as it seeks to address the blurring boundaries of finance extending into the virtual domain, the company said Thursday.

The bonds are worth 100 billion won ($70.1 million), raised through a simultaneous issuance of $30 million and 325 million Hong Kong dollars ($41.65 million).

Mirae Asset Securities described the transaction as “more than a simple fundraising exercise,” adding that it is a step toward “Mirae Asset 3.0” strategy aimed at building an advanced digital financial ecosystem encompassing both traditional and digital assets.

The strategy centers on integrating artificial intelligence (AI) and Web3 technologies, which are associated with a decentralized, user-centric internet built on blockchain, enabling ownership of data and assets without intermediaries.

“The successful issuance represents a new model of borderless capital mobilization made possible with digital technology,” the company said.

It said the event marks an important milestone, showing that Korea’s financial industry can lead global digital asset standards.

“Through an expanded financial ecosystem, we aim to provide innovative asset-building opportunities for everyone, from individual investors to institutions, while contributing to Korea’s emergence as a global financial hub,” Mirae Asset Securities said.

HSBC, a multinational bank with its central operations in Hong Kong, served as the lead manager for the bond issuance, while Mirae Asset Securities’ Hong Kong subsidiary acted as co-manager.

The issuance process utilized Orion, HSBC’s proprietary tokenization platform, which is linked to the Central Moneymarkets Unit, the official bond settlement infrastructure of the Hong Kong Monetary Authority.

The blockchain-based platform uses the same technology as the Hong Kong government’s digital green bonds, in line with international best practices.

This makes the bond issuance particularly meaningful, as it also shows a Korean financial company adopting a globally recognized digital finance system, according to Mirae Asset Securities.

Regarding bonds issued in dual currencies, the move eliminated foreign exchange costs and settlement delays, a step widely seen as improving the capital efficiency that Korean financial institutions can achieve.