Mirae Asset Daewoo

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Mirae Asset Daewoo (KRX: 006800) is the largest stock brokerage and investment banking company by market capitalization in South Korea. Mirae Asset Securities has been merged with Daewoo Securities as the end of December 2016 and has become a No.1 financial service company securing the biggest shareholder's equity within securities industry.[citation needed]

Review[edit]

Mirae Asset Daewoo is a No.1 financial service providing company which conducts a comprehensive brokerage services and investment banking with a large client base. As well as being a stockbroker it also has wider wealth management capabilities, aiming to provide for all its client wealth needs. It has rapidly expanded its investment banking offerings, particularly in the area of IPO underwriting, ECM, DCM, and M&A advisory.

Mirae Asset Daewoo has 4,659 employees in 177 branches in Korea and abroad. It has a marketshare of approximately 10.1% of the Korean brokerage market, in terms both of trading value and commissions.[citation needed]

History[edit]

Mirae Asset Daewoo was founded in 1970 as a part of the Daewoo Corporation. Daewoo Securities was spun off from the Daewoo Corporation in 1999 and has merged to Korea Development Bank and merged with Mirae Asset Securities as of the end of 2016.

Mirae Asset Securities was founded on Dec. 1999, the next year after Mirae Asset Global Investments, a Korea’s first retail mutual funds offering asset management company, was founded. Mirae Asset Securities had been rapidly growing becoming one of the top-tier securities company in South Korea. Such a rapid growth of Mirae Asset Financial Group interested Harvard Business School where the case study has been initiated in the name of “Mirae Asset: Korea’s Mutual Fund Pioneer”.[citation needed]

In January 2016, Mirae Asset Securities agreed to buy a 43 percent stake in Daewoo Securities for 2.39 trillion won ($2 billion) in a deal that created South Korea's largest brokerage by assets.[1]

References[edit]

  1. ^ "Mirae Asset Buy $2 Billion Stake in Daewoo Securities". 25 January 2016 – via www.bloomberg.com.