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| industry = [[Financial services company]]
| industry = [[Financial services company]]
| foundation = {{start date and age|1997}}
| foundation = {{start date and age|1997}}
| founder = [[Hyeon-Joo, Park]]
| founder = [[Park Hyeon-Joo]]
| location = [[Seoul]], [[South Korea]]
| location = [[Seoul]], [[South Korea]]
| homepage = {{URL|http://www.miraeasset.com}}
| homepage = {{URL|http://www.miraeasset.com}}
| image = DWJ 7665.jpg
| image = DWJ 7665.jpg
}}
}}
'''Mirae Asset Financial Group''' is a financial services group in Asia, headquartered in Seoul, South Korea. Mirae Asset provides comprehensive financial services including [[asset management]], [[wealth management]], [[investment banking]], and [[life insurance]]. Mirae Asset was founded by [[Park Hyeon-joo|Hyeon Joo Park]] in 1997 and introduced the very first mutual funds to Korean retail investors in 1998. On a global consolidated basis, total group’s client assets exceed US$400 billion (as of June 1, 2019). Mirae Asset has a presence in Australia, Brazil, Canada, China, Colombia, Hong Kong, India, Indonesia, Korea, Mongolia, Singapore, the U.K., the United States and Vietnam. Mirae Asset Financial Group's Mirae Asset Daewoo is the largest investment bank in South Korea.
'''Mirae Asset Financial Group''' is a financial service providing group headquartered in Seoul, South Korea. Mirae Asset provides comprehensive financial services including [[asset management]], [[wealth management]], [[investment banking]], and [[life insurance]]. Mirae Asset was founded by [[Park Hyeon-joo|Hyeon Joo Park]] in 1997 and introduced the very first mutual funds to Korean retail investors in 1998. On a global consolidated basis, total group’s client assets exceed US$400 billion (as of June 1, 2019). Mirae Asset has global presence in Australia, Brazil, Canada, China, Colombia, Hong Kong, India, Indonesia, Korea, Mongolia, Singapore, the United Kingdom, United States and Vietnam.


Harvard Business School selected Mirae Asset Financial Group as one of their case study in the name of “Mirae Asset: Korea’s Mutual Fund Pioneer" which has been the first Asian Financial Company to be introduced and analyzed in 2010<ref>{{Cite web|url=http://www.koreatimes.co.kr/www/tech/2019/09/693_56955.html|title=Harvard Business School to Study Mirae Asset Group|date=2009-12-09|website=koreatimes|language=en|access-date=2019-09-30}}</ref><ref>{{Cite journal|last=Khaire|first=Mukti|last2=Chen|first2=Michael Shih-ta|last3=Donovan|first3=G. A.|date=2010-03-29|title=Mirae Asset: Korea's Mutual Fund Pioneer|url=https://www.hbs.edu/faculty/Pages/item.aspx?num=38601|language=en-us}}</ref>. Seoul National University also selected Mirae Asset Financial Group as one of their case study in the name of "Mirae Asset: A Disruptive Innovator in the Korean Financial Industry" which has been listed in "The Case Centre" which is the world's most well-known case study institute<ref>{{Cite web|url=https://www.thecasecentre.org/educators/products/view?&&id=145054|title=Mirae Asset: A Disruptive Innovator in the Korean Financial Industry|website=thecasecentre.org|language=en|access-date=2019-09-30}}</ref>.
==Key businesses==

==History==
=== Foundation of Mirae Asset Financial Group ===

[[Park Hyeon-Joo]] founded Mirae Asset Global Investments and Mirae Asset Capital in June 1997.  Within 6 months after the foundation, Mirae Asset suffered from 1997 financial crisis of South Korea, however, showed a tremendous investment performance by believing in South Korea's economy to rebound with contrary investment insights where Park is notable for his adherence to long-term and value investing.

In December 1998, Park launched the first retail mutual fund, “Park Hyeon Joo No.1” in South Korea and The Journal of Investment & Pension described that this fund was a great success.<ref>{{Cite web|url=https://www.asiaasset.com/15th2010_mirae.aspx|title=Mirae Asset’s focus on global emerging markets - Asia Asset Management - The Journal of Investments & Pensions|website=www.asiaasset.com|access-date=2019-03-26}}</ref>

=== Merge and acquisition of Mirae Asset Financial Group ===

Park has grown [[Mirae Asset Financial Group]] into an independent financial conglomerate in South Korea by successfully acquiring a number of financial companies with his contrary investment philosophy and insights.

* 2004.02 Acquired SK Investment Trust Company, an affiliates of [[SK Group]]
* 2005.06 Acquired SK Life Insurance, an affiliates of [[SK Group]]<ref>{{Cite web|url=http://www.asiainsurancereview.com/News/View-NewsLetter-Article?id=3238&Type=eDaily|title=South Korea: Mirae Asset Buys SK Life|last=Review|first=Asia Insurance|website=Asia Insurance Review|language=en-US|access-date=2019-03-26}}</ref><ref>{{Cite web|url=https://www.scotsman.com/business/companies/financial/mirae-eyes-bid-to-keep-sk-life-in-korean-hands-1-1052614|title=Mirae eyes bid to keep SK Life in Korean hands|website=www.scotsman.com|language=en|access-date=2019-03-26}}</ref>
* 2011.11 Acquired Horizon ETF,<ref>{{Cite web|url=https://www.businesswire.com/news/home/20111114006708/en/Mirae-Asset-Completes-Acquisition-85-Stake-Horizons|title=Mirae Asset Completes Acquisition of 85% Stake in Horizons ETFs|date=2011-11-14|website=www.businesswire.com|language=en|access-date=2019-03-26}}</ref> a major ETF player in Canada
* 2011.11 Acquired [[BetaShares]], a major ETF player in Australia
* 2016.12 Merge and acquisition of Daewoo Securities and [[:ko:미래에셋증권|Mirae Asset Securities]]<ref>{{Cite web|url=https://nexchange.com/article/9228|title=Mirae’s Park Hyeon-joo to take control of Daewoo Securities {{!}} NexChange|last=NexChange|website=nexchange.com|access-date=2019-03-26}}</ref><ref>{{Cite web|url=https://www.spglobal.com/marketintelligence/en/news-insights/trending/u8sawm0blz9dtt1-x__xrw2|title=Mirae Asset Daewoo, Mirae Asset Securities complete merger|website=www.spglobal.com|language=en-us|access-date=2019-03-26}}</ref><ref>https://www.ftse.com/products/index-notices/home/getnotice/?id=1904884</ref><ref>{{Cite web|url=https://www.ftse.com/products/index-notices/home/getnotice/?id=1904884|title=Mirae Asset Daewoo (Korea): Merger with Mirae Asset Securities (Korea) Changes in FTSE4Good Index Series|date=12 December 2016|website=FTSE}}</ref><ref>{{Cite web|url=https://www.bloomberg.com/tosv2.html?vid=&uuid=2e48ed00-e354-11e9-9ef0-8590919304cf&url=L25ld3MvYXJ0aWNsZXMvMjAxNi0wMS0yNS9taXJhZS1hc3NldC1idXktMi1iaWxsaW9uLXN0YWtlLWluLWRhZXdvby1zZWN1cml0aWVz|title=Bloomberg - Mirae Asset Buy $2 Billion Stake in Daewoo Securities|last=|first=|date=|website=www.bloomberg.com|url-status=live|archive-url=|archive-date=|access-date=2019-09-30}}</ref>
* 2016.12 Acquired KDB asset management company,<ref>{{Cite web|url=https://www.bloomberg.com/tosv2.html?vid=&uuid=b8053f20-4f8f-11e9-b528-0fa871fa3339&url=L3Jlc2VhcmNoL3N0b2Nrcy9wcml2YXRlL3NuYXBzaG90LmFzcD9wcml2Y2FwSWQ9MzIwNjcyMTI2|title=Bloomberg - Are you a robot?|website=www.bloomberg.com|access-date=2019-03-26}}</ref> formerly owned by [[Korea Development Bank]]
* 2017.07 Invested Vietnamese life insurance company, '''PRÉVOIR'''<ref>{{Cite news|url=https://www.reuters.com/article/vietnam-insurance-deals-idUSL3N1JW30J|title=S.Korea's Mirae invests $48.4 mln in Vietnamese insurance firm|date=2017-07-05|work=Reuters|access-date=2019-03-26|language=en}}</ref> ''' '''
* 2017.12 Acquired Korea-based PCA Life Insurance<ref>{{Cite news|url=https://www.reuters.com/article/brief-mirae-asset-life-insurance-to-merg-idUSL3N1JN1KB|title=BRIEF-MIRAE ASSET Life Insurance to merge with PCA Life Insurance|date=2017-06-26|work=Reuters|access-date=2019-03-26|language=en}}</ref><ref>{{Cite web|url=https://pulsenews.co.kr/view.php?year=2017&no=846897|title=Mirae Asset Life’s acquisition of PCA Life clears regulatory hurdle - Pulse by Maeil Business News Korea|website=pulsenews.co.kr|language=ko|access-date=2019-03-26}}</ref>
* 2018.07 Acquired [[Global X ETFs|GlobalX]],<ref>{{Cite web|url=http://www.koreaherald.com/view.php?ud=20180828000643|title=Mirae Asset secures foothold in overseas ETF business|last=Herald|first=The Korea|date=2018-08-28|website=www.koreaherald.com|language=en|access-date=2019-03-26}}</ref> US ETF company

=== Global expansion and presence of Mirae Asset Financial Group ===

Founder Park always has in mind to expand the business globally since the early stage, and is regarded as a global forerunner in South Korean financial industry.<ref>{{Cite web|url=http://www.koreaherald.com/view.php?ud=20190326000553|title=Mirae Asset to expand presence in Asia: founder says in letter to employees|last=Herald|first=The Korea|date=2019-03-26|website=www.koreaherald.com|language=en|access-date=2019-03-28}}</ref><ref>{{Cite web|url=https://pulsenews.co.kr/view.php?year=2019&no=178947|title=Korea’s Mirae Asset Group to enter Japan for bigger global outreach - Pulse by Maeil Business News Korea|website=pulsenews.co.kr|language=ko|access-date=2019-03-28}}</ref>

* 2003.12 Established Mirae Asset Global Investment HK
* 2006.09 Established Mirae Asset Global Investment Vietnam (Hanoi)
* 2006.11 Established Mirae Asset Global Investment India
* 2007.01 Established Mirae Asset Securities HK
* 2007.03 Established Mirae Asset Global Investment UK
* 2007.07 Established Mirae Asset Global Investment Beijing
* 2007.12 Established Mirae Asset Securities Vietnam
* 2008.02 Established Mirae Asset Investment Advisory Beijing
* 2008.04 Established Mirae Asset Global Investment US
* 2008.04 Established Mirae Asset Global Investment Brazil
*2008.07 Granted Qualified Foreign Institutional Investor license first in Korea by China Securities Regulatory Commission<ref>{{Cite web|url=http://www.csrc.gov.cn/pub/csrc_en/OpeningUp/RelatedLists/QFIIs/201210/t20121030_216322.html|title=CHINA SECURITIES REGULATORY COMMISSION - List of QFIIs(with approval date)|last=|first=|date=|website=www.csrc.gov.cn|url-status=live|archive-url=|archive-date=|access-date=2019-09-30}}</ref><ref>{{Cite news|url=https://www.reuters.com/article/china-investment-qfii-idUSL3N0F21SG20130626|title=China grants $900 mln quotas to overseas investors in June|date=2013-06-26|work=Reuters|access-date=2019-09-30|language=en}}</ref>
* 2008.08 Established Mirae Asset Securities US
* 2008.08 Established Mirae Asset Investment Advisory Shanghai<ref>{{Cite web|url=http://www.asiae.co.kr/news/view.htm?idxno=2008090117560813576|title=미래에셋증권, 상해에 투자자문업체 설립|date=2008-09-01|website=아시아경제|language=ko|access-date=2019-03-26}}</ref><ref>{{Cite web|url=http://www.etoday.co.kr/news/section/newsview.php?TM=news&SM=2199&idxno=182157|title=미래에셋증권, 상해 법인 설립|last=|first=|date=2008-09-01|website=이투데이|language=ko|archive-url=|archive-date=|dead-url=|access-date=2019-03-26}}</ref>
* 2010.08 Established Mirae Asset Securities Brazil
* 2012.07 Established Mirae Asset Huachen Fund Management<ref>{{Cite web|url=https://www.yicaiglobal.com/news/mirae-asset-registers-unit-as-private-equity-manager-in-china|title=Mirae Asset Registers Unit as Private Equity Manager in China|website=Yicai Global|access-date=2019-09-30}}</ref><ref>{{Cite web|url=https://www.chinaknowledge.com/News/DetailNews/82622/Mirae-Group-|title=Mirae Group registers private equity unit in China|last=|first=|date=2018-11-23|website=China Knowledge|url-status=live|archive-url=|archive-date=|access-date=}}</ref>
* 2012.10 Established Horizons ETFs LatAM<ref>{{Cite web|url=http://www.globenewswire.com/news-release/2012/10/25/499902/10009759/en/Horizons-ETFs-Enters-Latin-American-Market-in-Joint-Venture-With-Grupo-InterBolsa.html|title=Horizons ETFs Enters Latin American Market in Joint Venture With Grupo InterBolsa|last=Inc|first=Horizons Exchange Traded Funds|date=2012-10-25|website=GlobeNewswire News Room|access-date=2019-04-29}}</ref><ref>{{Cite web|url=https://www.cnbc.com/id/100044629|title=Horizons ETFs Enters Latin American Market in Joint Venture With Grupo InterBolsa|last=CNBC|date=2012-10-25|website=www.cnbc.com|access-date=2019-04-29}}</ref>
* 2016.01 Established Mirae Asset Global Investment Australia
* 2017.10 Established Mirae Asset Daewoo India

=== Notable global investments ===

Park led to achieving notable global investment activities of noteworthy landmarks in primary cities.

* 2011.08 Acquired major shares of [[Acushnet Company|Acushnet Company,]] the owner of leading golf brands of [[Titleist]] and FootJoy<ref>{{Cite news|url=https://www.reuters.com/article/us-fila-fortunebrands-idUSTRE74J2O520110520|title=Fila Korea buys Titleist golf company for $1.2 billion|date=2011-05-20|work=Reuters|access-date=2019-03-26|language=en}}</ref><ref>{{Cite web|url=http://www.financeasia.com/News/258206,fila-korea-and-mirae-asset-buy-titleist-and-footjoy-brands.aspx|title=Fila Korea and Mirae Asset buy Titleist and Footjoy brands|website=FinanceAsia|access-date=2019-03-26}}</ref><ref>{{Cite web|url=https://leisurelinkgolf.wordpress.com/2011/05/24/fila-korea-and-mirae-asset-buy-titleist-and-footjoy-brands/|title=Fila Korea and Mirae Asset buy Titleist and Footjoy brands|date=2011-05-24|website=Leisure Link Golf's Blog|language=en|access-date=2019-03-26}}</ref> along with Mirae Asset Private Equity, Fila Korea, National Pension Service of South Korea and [[Korea Development Bank]]<ref>{{Cite web|url=https://www.pga.com/titleist-and-footjoy-parent-acushnet-sold-korean-investors-12-billion|title=Titleist and FootJoy parent Acushnet sold to Korean investors for $1.2 billion|website=www.pga.com|access-date=2019-09-30}}</ref>.
* 2013.09 Acquired Four Seasons Hotel, [[Sydney]]<ref>{{Cite web|url=https://www.smh.com.au/business/companies/four-seasons-sold-for-340-million-20130821-2saw4.html|title=Four Seasons sold for $340 million|last=Cummins|first=Carolyn|date=2013-08-21|website=The Sydney Morning Herald|language=en|access-date=2019-03-26}}</ref><ref>{{Cite web|url=https://theurbandeveloper.com/articles/sydneys-four-seasons-hotel-sold-in-record-breaking-deal|title=Sydney's Four Seasons Hotel sold in record-breaking deal|last=Object|first=object|date=2013-08-28|website=The Urban Developer|language=en|access-date=2019-03-26}}</ref><ref>{{Cite web|url=https://pulsenews.co.kr/view.php?year=2017&no=397016|title=Value of Four Seasons Hotel in Sydney owned by Mirae Asset jumps 56% - Pulse by Maeil Business News Korea|website=pulsenews.co.kr|language=ko|access-date=2019-03-26}}</ref>
* 2014.12 Acquired major shares of FRB rented building (1801 K St.), [[Washington, D.C.|Washington DC]], US<ref>{{Cite web|url=https://www.bizjournals.com/washington/breaking_ground/2015/01/dc-notches-first-downtown-investment-sale-of-15.html|title=Somerset Partners parts with 1801 K St. NW in first downtown investment sale of 2015|last=|first=|date=|website=www.bizjournals.com|archive-url=|archive-date=|dead-url=|access-date=2019-03-26}}</ref>
* 2015.05 Acquired major shares of [[The Fairmont Orchid]], [[Hawaii]]<ref>{{Cite web|url=https://www.bizjournals.com/pacific/news/2015/05/15/korean-firm-buys-hawaiis-fairmont-orchid-hotel-for.html|title=Korean firm buys Hawaii's Fairmont Orchid hotel for $200.3M|last=|first=|date=|website=www.bizjournals.com|archive-url=|archive-date=|dead-url=|access-date=2019-03-26}}</ref><ref>{{Cite web|url=https://www.hotel-online.com/press_releases/release/brief-korean-company-buys-hawaii-island-hotel|title=Korean Company, Mirae Asset Global Investments, Buys Fairmont Orchid Hawaii for $220 Million|website=Hotel Online|access-date=2019-03-26}}</ref>
* 2015.12 Acquired major shares of [[Fairmont San Francisco|Fairmont]] [[San Francisco]]<ref>{{Cite web|url=https://www.businesswire.com/news/home/20151124006180/en/Fairmont-San-Francisco-Hotel-Interests-Sold-Mirae|title=Fairmont San Francisco Hotel Interests Sold To Mirae Asset Global Investments For $450 Million|date=2015-11-24|website=www.businesswire.com|language=en|access-date=2019-03-26}}</ref>
* 2016.07 Acquired major shares of [[Amazon (company)|Amazon]] head office, Phase VIII<ref>{{Cite web|url=https://www.seattletimes.com/business/amazon-building-sells-for-nearly-250-million-to-asian-firm/|title=Amazon building sells for nearly $250 million to Asian firm|date=2016-07-11|website=The Seattle Times|language=en-US|access-date=2019-03-26}}</ref><ref>{{Cite web|url=http://rebusinessonline.com/mirae-asset-global-investments-acquires-amazon-headquarters-building-in-seattle-for-246-8m/|title=Mirae Asset Global Investments Acquires Amazon Headquarters Building in Seattle for $246.8M – REBusinessOnline|last=Cannon|first=Christina|language=en-US|access-date=2019-03-26}}</ref>
* 2016.09 Acquired major shares of Hyatt Regency Waikiki Beach Resort & Spa<ref>{{Cite web|url=https://www.bloomberg.com/tosv2.html?vid=&uuid=d8e92430-4f95-11e9-b898-01f7be7d0412&url=L25ld3MvYXJ0aWNsZXMvMjAxNi0wNi0wOC9ibGFja3N0b25lLXNhaWQtdG8taGF2ZS1vdmVyLTIwMC1taWxsaW9uLXByb2ZpdC1pbi1oYXdhaWktZGVhbA==|title=Blackstone Said to Have $200 Million Profit in Hawaii Deal|last=|first=|date=|website=www.bloomberg.com|archive-url=|archive-date=|dead-url=|access-date=2019-03-26}}</ref>

== Key Affiliates ==
'''Mirae Asset Global Investments'''
'''Mirae Asset Global Investments'''

⚫
Mirae Asset Global Investments is the leading asset management company in South Korea.


Subsidiaries:
Subsidiaries:
Line 23: Line 83:
'''Mirae Asset Daewoo'''
'''Mirae Asset Daewoo'''


Mirae Asset Daewoo offers services including brokerage service, wealth management, investment banking, and sales & trading.
Mirae Asset Daewoo offers services including brokerage service, wealth management, investment banking, and sales & trading. It is listed on [[KOSPI]]<ref>{{Cite web|url=https://www.bloomberg.com/tosv2.html?vid=&uuid=567125b0-e352-11e9-b2c2-4b90da992c77&url=L3F1b3RlLzAwNjgwMDpLUw==|title=Bloomberg - Stock Quotes|last=|first=|date=|website=www.bloomberg.com|url-status=live|archive-url=|archive-date=|access-date=2019-09-30}}</ref>.


'''Mirae Asset Life Insurance'''
'''Mirae Asset Life Insurance'''


Mirae Asset Life Insurance offers life insurance, investment-linked insurance, financial consulting and retirement planning services.
Mirae Asset Life Insurance offers life insurance, investment-linked insurance, financial consulting and retirement planning services. It is listed on [[KOSPI]] since July 2015<ref>{{Cite news|url=https://www.reuters.com/article/mirae-asset-life-ipo/s-koreas-mirae-asset-life-insurance-to-raise-307-mln-in-july-ipo-idUSL3N0ZB2ZC20150625|title=S.Korea's Mirae Asset Life Insurance to raise $307 mln in July IPO|last=Reuters Editorial|work=U.S.|access-date=2019-09-30|language=en-US}}</ref>.

'''Mirae Asset Venture Investment '''

Mirae Asset Venture Investment Co., Ltd. is a venture capital and private equity company specializing in investment of venture businesses with potential for growth, incubation, buyouts, and cross-border investments. It has been listed on [[KOSDAQ]] since March 2019<ref>{{Cite web|url=http://english.etnews.com/20190228200001|title=Many Major South Korean Companies Expected to Go Public in March|last=www.etnews.com|date=2019-02-28|website=대한민국 IT포털의 중심! 이티뉴스|access-date=2019-09-30}}</ref>.


==Milestones==
==Milestones==
2018
* Mirae Asset Global Investments acquires Global X, an ETF provider in the USA
* Mirae Asset Life Insurance launches joint venture with Prevoir Vietnam Life Insurance
2017
2017
* Mirae Asset launches global and regional artificial intelligence (AI) products
* Mirae Asset launches global and regional artificial intelligence (AI) products
2016
2016
* Mirae Asset acquires leading securities firm KDB Daewoo Securities, rebranded as Mirae Asset Daewoo<ref>{{cite web|url=https://www.bloomberg.com/news/articles/2016-01-25/mirae-asset-buy-2-billion-stake-in-daewoo-securities|title=Terms of Service Violation|website=www.bloomberg.com}}</ref>, creating the largest securities firm in South Korea
* Mirae Asset Securities acquires a leading securities firm, KDB Daewoo Securities, and renamed as Mirae Asset Daewoo<ref>{{cite web|url=https://www.bloomberg.com/news/articles/2016-01-25/mirae-asset-buy-2-billion-stake-in-daewoo-securities|title=Terms of Service Violation|website=www.bloomberg.com}}</ref>, becoming the largest securities firm in South Korea
2015
2015
* Mirae Asset completes development of South Korea's first Four Seasons Hotel in downtown Seoul
* Mirae Asset completes development of South Korea's first Four Seasons Hotel in downtown Seoul
Line 43: Line 104:
2012
2012
* Mirae Asset Global Investments becomes the largest fixed-income fund manager in South Korea<ref>{{cite web|url=http://www.kofia.or.kr|title=금융투자협회|website=www.kofia.or.kr}}</ref>
* Mirae Asset Global Investments becomes the largest fixed-income fund manager in South Korea<ref>{{cite web|url=http://www.kofia.or.kr|title=금융투자협회|website=www.kofia.or.kr}}</ref>
* Mirae Asset establishes South Korea’s first joint venture asset management company in China - Mirae Asset Huachen Fund Management
* Mirae Asset Global Investments merges with Mirae Asset MAPS Global Investments, its sister company specializing in alternative investments
* Mirae Asset Global Investments merges with Mirae Asset MAPS Global Investments, its sister company specializing in alternative investments

2011
* Mirae Asset Financial Group agreed to acquire Horizons ETFs and BetaShares ETFs, leading ETF providers in Canada and Australia
* Mirae Asset Private Equity, Fila Korea, National Pension Service of South Korea and [[Korea Development Bank]] agree to buy Acushnet Company, owner of leading golf brands [[Titleist]] and FootJoy<ref>{{cite web|url=http://www.pga.com/titleist-and-footjoy-parent-acushnet-sold-korean-investors-12-billion|title=Titleist and FootJoy parent Acushnet sold to Korean investors for $1.2 billion|publisher=}}</ref>
2010
2010
* Mirae Asset launches US-domiciled funds
* Mirae Asset launches US-domiciled funds
Line 53: Line 111:
* Mirae Asset Global Investments signs an agreement to form an asset management joint venture in China
* Mirae Asset Global Investments signs an agreement to form an asset management joint venture in China
2008
2008

* Mirae Asset was recognized as the largest investor in emerging markets
* Mirae Asset’s SICAV Luxembourg-domiciled funds were launched
* Mirae Asset’s SICAV Luxembourg-domiciled funds were launched

* Mirae Asset Global Investments (Brazil) was established
* Mirae Asset Global Investments (USA) was established
2007
* Mirae Asset Global Investments (UK) was established
* Mirae Asset Global Investments (India) was established
2005
2005
* Mirae Asset launches South Korea’s first overseas investment (ex-Korea) fund Mirae Asset Retirement Pension Institute established
* Mirae Asset launches South Korea’s first overseas investment (ex-Korea) fund Mirae Asset Retirement Pension Institute established
Line 65: Line 119:
* Mirae Asset Investment Education & Research Center was established
* Mirae Asset Investment Education & Research Center was established
* Mirae Asset MAPS Global Investments was established through the acquisition of a local asset management company
* Mirae Asset MAPS Global Investments was established through the acquisition of a local asset management company
2003
⚫
* Mirae Asset Global Investments (HK), the first global operation based in Hong Kong, was established
2001
* Selected as external manager of the National Pension Service (NPS) of South Korea
1998
* Korea’s first mutual investment fund was launched by Mirae Asset
1997
* Mirae Asset Global Investments was established


==Notes and references==
==Notes and references==

Revision as of 07:39, 30 September 2019

Mirae Asset Financial Group
Company typePrivate company
IndustryFinancial services company
Founded1997; 27 years ago (1997)
FounderPark Hyeon-Joo
HeadquartersSeoul, South Korea
Websitewww.miraeasset.com

Mirae Asset Financial Group is a financial service providing group headquartered in Seoul, South Korea. Mirae Asset provides comprehensive financial services including asset management, wealth management, investment banking, and life insurance. Mirae Asset was founded by Hyeon Joo Park in 1997 and introduced the very first mutual funds to Korean retail investors in 1998. On a global consolidated basis, total group’s client assets exceed US$400 billion (as of June 1, 2019). Mirae Asset has global presence in Australia, Brazil, Canada, China, Colombia, Hong Kong, India, Indonesia, Korea, Mongolia, Singapore, the United Kingdom, United States and Vietnam.

Harvard Business School selected Mirae Asset Financial Group as one of their case study in the name of “Mirae Asset: Korea’s Mutual Fund Pioneer" which has been the first Asian Financial Company to be introduced and analyzed in 2010[1][2]. Seoul National University also selected Mirae Asset Financial Group as one of their case study in the name of "Mirae Asset: A Disruptive Innovator in the Korean Financial Industry" which has been listed in "The Case Centre" which is the world's most well-known case study institute[3].

History

Foundation of Mirae Asset Financial Group

Park Hyeon-Joo founded Mirae Asset Global Investments and Mirae Asset Capital in June 1997.  Within 6 months after the foundation, Mirae Asset suffered from 1997 financial crisis of South Korea, however, showed a tremendous investment performance by believing in South Korea's economy to rebound with contrary investment insights where Park is notable for his adherence to long-term and value investing.

In December 1998, Park launched the first retail mutual fund, “Park Hyeon Joo No.1” in South Korea and The Journal of Investment & Pension described that this fund was a great success.[4]

Merge and acquisition of Mirae Asset Financial Group

Park has grown Mirae Asset Financial Group into an independent financial conglomerate in South Korea by successfully acquiring a number of financial companies with his contrary investment philosophy and insights.

Global expansion and presence of Mirae Asset Financial Group

Founder Park always has in mind to expand the business globally since the early stage, and is regarded as a global forerunner in South Korean financial industry.[18][19]

  • 2003.12 Established Mirae Asset Global Investment HK
  • 2006.09 Established Mirae Asset Global Investment Vietnam (Hanoi)
  • 2006.11 Established Mirae Asset Global Investment India
  • 2007.01 Established Mirae Asset Securities HK
  • 2007.03 Established Mirae Asset Global Investment UK
  • 2007.07 Established Mirae Asset Global Investment Beijing
  • 2007.12 Established Mirae Asset Securities Vietnam
  • 2008.02 Established Mirae Asset Investment Advisory Beijing
  • 2008.04 Established Mirae Asset Global Investment US
  • 2008.04 Established Mirae Asset Global Investment Brazil
  • 2008.07 Granted Qualified Foreign Institutional Investor license first in Korea by China Securities Regulatory Commission[20][21]
  • 2008.08 Established Mirae Asset Securities US
  • 2008.08 Established Mirae Asset Investment Advisory Shanghai[22][23]
  • 2010.08 Established Mirae Asset Securities Brazil
  • 2012.07 Established Mirae Asset Huachen Fund Management[24][25]
  • 2012.10 Established Horizons ETFs LatAM[26][27]
  • 2016.01 Established Mirae Asset Global Investment Australia
  • 2017.10 Established Mirae Asset Daewoo India

Notable global investments

Park led to achieving notable global investment activities of noteworthy landmarks in primary cities.

Key Affiliates

Mirae Asset Global Investments

Mirae Asset Global Investments is the leading asset management company in South Korea.

Subsidiaries:

Mirae Asset Daewoo

Mirae Asset Daewoo offers services including brokerage service, wealth management, investment banking, and sales & trading. It is listed on KOSPI[42].

Mirae Asset Life Insurance

Mirae Asset Life Insurance offers life insurance, investment-linked insurance, financial consulting and retirement planning services. It is listed on KOSPI since July 2015[43].

Mirae Asset Venture Investment

Mirae Asset Venture Investment Co., Ltd. is a venture capital and private equity company specializing in investment of venture businesses with potential for growth, incubation, buyouts, and cross-border investments. It has been listed on KOSDAQ since March 2019[44].

Milestones

2017

  • Mirae Asset launches global and regional artificial intelligence (AI) products

2016

  • Mirae Asset Securities acquires a leading securities firm, KDB Daewoo Securities, and renamed as Mirae Asset Daewoo[45], becoming the largest securities firm in South Korea

2015

  • Mirae Asset completes development of South Korea's first Four Seasons Hotel in downtown Seoul

2013

  • Mirae Asset launches CSI300 Enhanced Index Fund, its China JV’s first mutual fund

2012

  • Mirae Asset Global Investments becomes the largest fixed-income fund manager in South Korea[46]
  • Mirae Asset Global Investments merges with Mirae Asset MAPS Global Investments, its sister company specializing in alternative investments

2010

  • Mirae Asset launches US-domiciled funds

2009

  • Mirae Asset Global Investments signs an agreement to form an asset management joint venture in China

2008

  • Mirae Asset’s SICAV Luxembourg-domiciled funds were launched

2005

  • Mirae Asset launches South Korea’s first overseas investment (ex-Korea) fund Mirae Asset Retirement Pension Institute established

2004

  • Mirae Asset Investment Education & Research Center was established
  • Mirae Asset MAPS Global Investments was established through the acquisition of a local asset management company

Notes and references

  1. ^ "Harvard Business School to Study Mirae Asset Group". koreatimes. 2009-12-09. Retrieved 2019-09-30.
  2. ^ Khaire, Mukti; Chen, Michael Shih-ta; Donovan, G. A. (2010-03-29). "Mirae Asset: Korea's Mutual Fund Pioneer". {{cite journal}}: Cite journal requires |journal= (help)
  3. ^ "Mirae Asset: A Disruptive Innovator in the Korean Financial Industry". thecasecentre.org. Retrieved 2019-09-30.
  4. ^ "Mirae Asset's focus on global emerging markets - Asia Asset Management - The Journal of Investments & Pensions". www.asiaasset.com. Retrieved 2019-03-26.
  5. ^ Review, Asia Insurance. "South Korea: Mirae Asset Buys SK Life". Asia Insurance Review. Retrieved 2019-03-26.
  6. ^ "Mirae eyes bid to keep SK Life in Korean hands". www.scotsman.com. Retrieved 2019-03-26.
  7. ^ "Mirae Asset Completes Acquisition of 85% Stake in Horizons ETFs". www.businesswire.com. 2011-11-14. Retrieved 2019-03-26.
  8. ^ NexChange. "Mirae's Park Hyeon-joo to take control of Daewoo Securities | NexChange". nexchange.com. Retrieved 2019-03-26.
  9. ^ "Mirae Asset Daewoo, Mirae Asset Securities complete merger". www.spglobal.com. Retrieved 2019-03-26.
  10. ^ https://www.ftse.com/products/index-notices/home/getnotice/?id=1904884
  11. ^ "Mirae Asset Daewoo (Korea): Merger with Mirae Asset Securities (Korea) Changes in FTSE4Good Index Series". FTSE. 12 December 2016.
  12. ^ "Bloomberg - Mirae Asset Buy $2 Billion Stake in Daewoo Securities". www.bloomberg.com. Retrieved 2019-09-30.{{cite web}}: CS1 maint: url-status (link)
  13. ^ "Bloomberg - Are you a robot?". www.bloomberg.com. Retrieved 2019-03-26. {{cite web}}: Cite uses generic title (help)
  14. ^ "S.Korea's Mirae invests $48.4 mln in Vietnamese insurance firm". Reuters. 2017-07-05. Retrieved 2019-03-26.
  15. ^ "BRIEF-MIRAE ASSET Life Insurance to merge with PCA Life Insurance". Reuters. 2017-06-26. Retrieved 2019-03-26.
  16. ^ "Mirae Asset Life's acquisition of PCA Life clears regulatory hurdle - Pulse by Maeil Business News Korea". pulsenews.co.kr (in Korean). Retrieved 2019-03-26.
  17. ^ Herald, The Korea (2018-08-28). "Mirae Asset secures foothold in overseas ETF business". www.koreaherald.com. Retrieved 2019-03-26.
  18. ^ Herald, The Korea (2019-03-26). "Mirae Asset to expand presence in Asia: founder says in letter to employees". www.koreaherald.com. Retrieved 2019-03-28.
  19. ^ "Korea's Mirae Asset Group to enter Japan for bigger global outreach - Pulse by Maeil Business News Korea". pulsenews.co.kr (in Korean). Retrieved 2019-03-28.
  20. ^ "CHINA SECURITIES REGULATORY COMMISSION - List of QFIIs(with approval date)". www.csrc.gov.cn. Retrieved 2019-09-30.{{cite web}}: CS1 maint: url-status (link)
  21. ^ "China grants $900 mln quotas to overseas investors in June". Reuters. 2013-06-26. Retrieved 2019-09-30.
  22. ^ "미래에셋증권, 상해에 투자자문업체 설립". 아시아경제 (in Korean). 2008-09-01. Retrieved 2019-03-26.
  23. ^ "미래에셋증권, 상해 법인 설립". 이투데이 (in Korean). 2008-09-01. Retrieved 2019-03-26. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  24. ^ "Mirae Asset Registers Unit as Private Equity Manager in China". Yicai Global. Retrieved 2019-09-30.
  25. ^ "Mirae Group registers private equity unit in China". China Knowledge. 2018-11-23.{{cite web}}: CS1 maint: url-status (link)
  26. ^ Inc, Horizons Exchange Traded Funds (2012-10-25). "Horizons ETFs Enters Latin American Market in Joint Venture With Grupo InterBolsa". GlobeNewswire News Room. Retrieved 2019-04-29. {{cite web}}: |last= has generic name (help)
  27. ^ CNBC (2012-10-25). "Horizons ETFs Enters Latin American Market in Joint Venture With Grupo InterBolsa". www.cnbc.com. Retrieved 2019-04-29.
  28. ^ "Fila Korea buys Titleist golf company for $1.2 billion". Reuters. 2011-05-20. Retrieved 2019-03-26.
  29. ^ "Fila Korea and Mirae Asset buy Titleist and Footjoy brands". FinanceAsia. Retrieved 2019-03-26.
  30. ^ "Fila Korea and Mirae Asset buy Titleist and Footjoy brands". Leisure Link Golf's Blog. 2011-05-24. Retrieved 2019-03-26.
  31. ^ "Titleist and FootJoy parent Acushnet sold to Korean investors for $1.2 billion". www.pga.com. Retrieved 2019-09-30.
  32. ^ Cummins, Carolyn (2013-08-21). "Four Seasons sold for $340 million". The Sydney Morning Herald. Retrieved 2019-03-26.
  33. ^ Object, object (2013-08-28). "Sydney's Four Seasons Hotel sold in record-breaking deal". The Urban Developer. Retrieved 2019-03-26.
  34. ^ "Value of Four Seasons Hotel in Sydney owned by Mirae Asset jumps 56% - Pulse by Maeil Business News Korea". pulsenews.co.kr (in Korean). Retrieved 2019-03-26.
  35. ^ "Somerset Partners parts with 1801 K St. NW in first downtown investment sale of 2015". www.bizjournals.com. Retrieved 2019-03-26. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  36. ^ "Korean firm buys Hawaii's Fairmont Orchid hotel for $200.3M". www.bizjournals.com. Retrieved 2019-03-26. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  37. ^ "Korean Company, Mirae Asset Global Investments, Buys Fairmont Orchid Hawaii for $220 Million". Hotel Online. Retrieved 2019-03-26.
  38. ^ "Fairmont San Francisco Hotel Interests Sold To Mirae Asset Global Investments For $450 Million". www.businesswire.com. 2015-11-24. Retrieved 2019-03-26.
  39. ^ "Amazon building sells for nearly $250 million to Asian firm". The Seattle Times. 2016-07-11. Retrieved 2019-03-26.
  40. ^ Cannon, Christina. "Mirae Asset Global Investments Acquires Amazon Headquarters Building in Seattle for $246.8M – REBusinessOnline". Retrieved 2019-03-26.
  41. ^ "Blackstone Said to Have $200 Million Profit in Hawaii Deal". www.bloomberg.com. Retrieved 2019-03-26. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  42. ^ "Bloomberg - Stock Quotes". www.bloomberg.com. Retrieved 2019-09-30.{{cite web}}: CS1 maint: url-status (link)
  43. ^ Reuters Editorial. "S.Korea's Mirae Asset Life Insurance to raise $307 mln in July IPO". U.S. Retrieved 2019-09-30. {{cite news}}: |last= has generic name (help)
  44. ^ www.etnews.com (2019-02-28). "Many Major South Korean Companies Expected to Go Public in March". 대한민국 IT포털의 중심! 이티뉴스. Retrieved 2019-09-30.
  45. ^ "Terms of Service Violation". www.bloomberg.com.
  46. ^ "금융투자협회". www.kofia.or.kr.

See also

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