Mirae Asset Securities named best brokerage in Korea by Euromoney

Mirae Asset Group founder Park Hyeon-joo / Courtesy of Mirae Asset Group

Mirae Asset Securities has been named the best brokerage service provider in Korea by Euromoney this year, the firm said Monday.

Euromoney, a London-based global finance magazine established in 1969, conferred the award as part of its annual Euromoney Securities Houses Awards 2024.

The magazine recognized Mirae Asset's growth amid challenges of high borrowing costs and geopolitical uncertainties, as highlighted by its global expansion, robust revenue involving wealth management, artificial intelligence investments and innovations.

The brokerage's global business is expected to register over 100 billion won in ($74 million) annual profits after it acquired Sharekhan, a brokerage firm in India.

Its high-net-worth wealth management businesses generated 991.1 billion won in operating profit in the first half of this year, up 15 percent from the previous year.

Mirae Asset continues to lead Korea's exports of financial services, innovating the domestic market and beyond, the firm said.

"We are committed to continued innovation, as mediated by investments and global business, boosting customer income in the post-retirement phase of life," it said.

Meanwhile, the feat followed Mirae Asset Group founder Park Hyeon-joo winning the International Executive of the Year Award from the Academy of International Business (AIB) early this year.

The distinguished honor was conferred at the AIB annual international conference in Seoul in July.

The global assets under the management of Mirae Asset Global Investment exceeded 340 trillion won as of May.

About 40 percent, or 147 trillion won, is managed overseas.

The feat was achieved 21 years after the launch of the firm's global business in 2003 at the directive of Park, then serving as its global strategy officer.

The firm's reach extends to 16 regions including the United States, Vietnam, Brazil, the United Arab Emirates, Britain, India, Japan, China, Canada, Colombia, Australia and Hong Kong.