Mirae Asset Financial Group
South Korean financial services group operating across securities, asset management, investment banking, wealth management, and related financial businesses.
Last updated October 14, 2026
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Overview
Mirae Asset Financial Group is a South Korean multinational financial-services group headquartered in Seoul. Founded by Park Hyeon-Joo in 1997, it developed from an investment-focused business into a diversified financial conglomerate whose activities include asset management, securities brokerage, wealth management, investment banking, sales and trading, venture investment, and life insurance. A defining early milestone was the group's introduction of retail mutual funds to South Korean investors. In December 1998, Park launched the Park Hyeon Joo No.1 fund, described in contemporary investment-industry coverage as a major commercial success. The initiative helped establish Mirae Asset's identity as an investment-led challenger in the Korean financial sector and provided a foundation for later expansion into securities, insurance, and institutional investment services. The group expanded through a combination of organic growth, acquisitions, and international partnerships. Its Korean portfolio came to include Mirae Asset Global Investments, Mirae Asset Securities, Mirae Asset Life Insurance, and Mirae Asset Venture Investment. Acquisitions and investments broadened its presence in exchange-traded funds, insurance, asset management, and brokerage, including transactions involving SK Investment Trust Company, SK Life Insurance, Daewoo Securities, KDB Asset Management, PCA Life Insurance, Global X, ETF Securities Australia, and Sharekhan. Mirae Asset Global Investments is the group's principal asset-management platform and has international subsidiaries and brands including Global X ETFs and Global X Investments Canada. Mirae Asset Securities provides brokerage, wealth-management, investment-banking, and sales-and-trading services and is listed on the Korea Exchange. Mirae Asset Life Insurance focuses on life insurance, investment-linked insurance, financial consulting, and retirement planning. Mirae Asset Venture Investment invests in venture businesses and other growth opportunities through venture capital, private equity, incubation, buyout, and cross-border investment activities. Internationally, the group operates or has operated businesses across Asia-Pacific, North America, Latin America, and Europe. Its global strategy has particularly emphasized asset management and exchange-traded funds, complementing its Korean securities and insurance operations. The group has also been used as a business-school case study: Harvard Business School selected it in 2010 for a case about Korea's mutual-fund pioneer, while Seoul National University examined it as an example of disruptive innovation in the Korean financial industry. The group's scale is reported on a consolidated basis across its businesses and geographies. Wikipedia-based reference material states that total client assets exceeded US$550 billion as of December 2020; this figure is historical and should not be treated as a current asset total. Mirae Asset's present identity remains that of a Korea-founded, globally oriented financial group organized around investment products, capital-markets services, insurance, and long-term wealth creation.
History
Park Hyeon-Joo founded Mirae Asset Global Investments and Mirae Asset Capital in June 1997. The group emerged during a period when South Korea's financial industry was undergoing substantial change, and it adopted an investment-oriented model rather than presenting itself solely as a traditional banking institution. In December 1998, Park launched the Park Hyeon Joo No.1 retail mutual fund. The product was significant because it helped bring mutual-fund investing to Korean retail customers at a time when investment products were becoming more accessible to the public. The fund's reported success gave Mirae Asset an early reputation as an innovative investment company and became a central part of the group's later corporate narrative. Mirae Asset subsequently built a broader Korean financial platform through acquisitions. In February 2004, it acquired SK Investment Trust Company, followed in June 2005 by the acquisition of SK Life Insurance. These transactions moved the group beyond investment management into insurance and increased the range of products it could offer to individual and institutional clients. The group's international expansion became especially visible in exchange-traded funds and asset management. In November 2011, it acquired Horizons ETFs in Canada and invested in or acquired BetaShares in Australia. These moves gave Mirae Asset exposure to established ETF markets outside Korea and supported the development of a global asset-management network. In December 2016, Mirae Asset completed the merger and acquisition involving Daewoo Securities and Mirae Asset Securities. The transaction created a larger securities business with capabilities in brokerage, wealth management, investment banking, and sales and trading. In the same month, the group acquired KDB Asset Management, formerly associated with Korea Development Bank, reinforcing its domestic asset-management position. Mirae Asset continued its insurance and international expansion in 2017. It invested in Vietnamese life-insurance company Prévoir and acquired Korea-based PCA Life Insurance. The latter strengthened the group's Korean insurance platform, while the Vietnamese investment extended its participation in Southeast Asian financial services. In July 2018, the group acquired Global X, a US ETF company. Global X became one of the most visible international components of Mirae Asset Global Investments and helped the group participate in the global thematic, sector, and specialized ETF markets. The asset-management platform also includes Global X Investments Canada and other international operations. The group later expanded its ETF presence in Australia through the June 2022 acquisition of ETF Securities Australia. In November 2024, reference material reports that Mirae Asset acquired Indian brokerage company Sharekhan, extending the group's reach in one of Asia's largest retail-investment markets. Mirae Asset's principal affiliates now cover several complementary financial activities. Mirae Asset Global Investments manages investment products and operates international asset-management businesses. Mirae Asset Securities provides securities and capital-markets services and is listed on the Korea Exchange. Mirae Asset Life Insurance provides life insurance, investment-linked insurance, financial consulting, and retirement-planning services. Mirae Asset Venture Investment focuses on venture and private-equity investments, including growth companies, incubation, buyouts, and cross-border opportunities; it is listed on KOSDAQ. The group has maintained a global presence across markets in Asia, North America, Latin America, Europe, and Oceania. Its history is characterized by the combination of an investment-product heritage, Korean financial-sector consolidation, and acquisitions designed to create international scale in asset management, ETFs, brokerage, and insurance. Harvard Business School selected Mirae Asset as its first Asian financial-company case study in 2010, and Seoul National University also used the group as a case of innovation in the Korean financial industry.
- 2024
Sharekhan acquired
[1]In November, reference material reports the acquisition of Indian brokerage company Sharekhan.
- 2022
ETF Securities Australia acquired
[1]In June, the group acquired ETF Securities Australia.
- 2018
Global X acquired
[1]In July, Mirae Asset acquired US ETF company Global X.
- 2017
Vietnamese and Korean insurance expansion
[1]Mirae Asset invested in Vietnamese life-insurance company Prévoir and acquired Korea-based PCA Life Insurance.
- 2016
Daewoo Securities transaction completed
[1]In December, the group completed the merger and acquisition involving Daewoo Securities and Mirae Asset Securities, and also acquired KDB Asset Management.
- 2011
Canadian and Australian ETF expansion
[1]In November, Mirae Asset expanded its ETF platform through Horizons ETFs in Canada and BetaShares in Australia.
- 2010
Selected as a Harvard Business School case
[1]Harvard Business School selected Mirae Asset for a case study examining its role as a Korean mutual-fund pioneer.
- 2005
SK Life Insurance acquired
[1]The June acquisition expanded Mirae Asset into life insurance.
- 2004
SK Investment Trust Company acquired
[1]The group acquired SK Investment Trust Company in February.
- 1998
First retail mutual fund launched
[1]Mirae Asset launched the Park Hyeon Joo No.1 fund in December, an early retail mutual-fund product in South Korea.
Products and positioning
A South Korean financial group positioned around investment innovation, global diversification, long-term asset management, and integrated capital-markets and wealth-management services. An investment-led, diversified financial group combining Korean capital-markets capabilities with international asset management and insurance operations, positioned around investment innovation, global diversification, long-term asset management, and integrated capital-markets and wealth-management services.
Asset management
Mirae Asset Global Investments
The group's principal asset-management platform, offering investment products and operating across multiple international markets. Its portfolio includes global ETF businesses and investment-management subsidiaries, including Global X ETFs and Global X Investments Canada. Its investment-management businesses offer professionally managed portfolios and pooled investment products, including mutual funds, exchange-traded funds, institutional mandates, and other investment vehicles, with strategies spanning equities, fixed income, multi-asset portfolios, alternatives, and regional or thematic investments.
Securities and capital markets
Mirae Asset Securities
A securities affiliate providing brokerage, wealth management, investment banking, sales and trading, and related capital-markets services. The business was enlarged through the 2016 transaction involving Daewoo Securities and is listed on the Korea Exchange. Its securities businesses provide brokerage and trading access for retail and institutional clients, together with research, investment banking, capital-markets execution, and related account services; exact products and regulatory permissions vary by operating company and jurisdiction.
Exchange-traded funds
Global X ETFs
A US ETF platform acquired by Mirae Asset in 2018. It gives the group an international presence in exchange-traded funds and supports exposure to thematic, sector, and other specialized investment strategies.
Life insurance
Mirae Asset Life Insurance
The group's life-insurance business, offering life insurance, investment-linked insurance, financial consulting, and retirement-planning services. Its development followed Mirae Asset's acquisition-led expansion into insurance.
Venture capital and private equity
Mirae Asset Venture Investment
A venture-capital and private-equity affiliate investing in growth-oriented businesses through venture investment, incubation, buyouts, and cross-border opportunities. The company is listed on KOSDAQ.
Retail mutual fund · 1998
Park Hyeon Joo No.1
The retail mutual fund launched by Park Hyeon-Joo in December 1998. Its reported success helped establish Mirae Asset as an investment-led innovator and introduced mutual-fund investing to a broader Korean retail audience.
Capital markets
Securities brokerage
Mirae Asset’s securities businesses provide brokerage and trading access for retail and institutional clients, together with research, investment banking, capital-markets execution, and related account services. Exact products and regulatory permissions vary by operating company and jurisdiction.
Asset management
Asset-management products
The group’s investment-management businesses offer professionally managed portfolios and pooled investment products, including mutual funds, exchange-traded funds, institutional mandates, and other investment vehicles. Strategies can span equities, fixed income, multi-asset portfolios, alternatives, and regional or thematic investments.
Wealth management
Wealth-management services
Mirae Asset provides wealth-management and advisory capabilities through its securities and related financial companies. These services may combine investment advice, portfolio construction, managed accounts, market research, and access to domestic and international products for affluent and mass-affluent clients.
Retirement finance
Pension and retirement solutions
Retirement-oriented services include pension investment products, workplace retirement arrangements, individual retirement accounts, and long-term portfolio solutions where permitted by local regulation. These offerings extend the group's role from discretionary investing into recurring retirement savings and asset allocation.
Controversies
Brand decisions
2018
Acquisition of Global XM&ABackground
Mirae Asset sought to increase its scale and visibility in global exchange-traded funds.
Action taken
The group acquired US ETF company Global X.
Aftermath
Global X became a major international component of Mirae Asset Global Investments' ETF platform.
2016
Daewoo Securities and Mirae Asset Securities combinationM&ABackground
Mirae Asset pursued greater scale in Korean securities and capital-markets services.
Action taken
The group completed the merger and acquisition involving Daewoo Securities and Mirae Asset Securities.
Aftermath
The transaction created a larger securities platform spanning brokerage, wealth management, investment banking, and trading services.
2011
International ETF expansionStrategyBackground
The group aimed to build an international asset-management platform beyond South Korea.
Action taken
Mirae Asset expanded through Horizons ETFs in Canada and BetaShares in Australia.
Aftermath
The transactions strengthened the group's participation in developed ETF markets and supported later global ETF acquisitions.
1998
Launch of the first retail mutual fundProduct launchBackground
Mirae Asset sought to broaden access to investment products among South Korean retail investors.
Action taken
Park Hyeon-Joo launched the Park Hyeon Joo No.1 mutual fund in December 1998.
Aftermath
The fund was reported as a major success and became a foundational milestone in the group's investment-led identity.
Recent events
Mirae Asset announces Nifty Financial Services ETF launch[4]
Reported:
Mirae Asset Investment Managers (India) announced the launch of an ETF tracking the Nifty Financial Services Index.
Trell raises $45 million in Series B funding[5]
Reported:
Trell raised $45 million in a Series B funding round led by Mirae Asset, with H&M Group and LB Investments co-leading. Existing investors also participated.
- Unconfirmed
HanchorBio completes $75 million Series D financing[6]
Reported:
HanchorBio announced that it completed an oversubscribed $75 million Series D financing led by new investor Mirae Asset Financial Group, with other new and existing investors participating.
TiYing Media completes B3 funding round[7]
Reported:
TiYing Media announced that it completed a B3 funding round worth several hundred million yuan, led by Jebsen Group and Mirae Asset. It said the funds would mainly support expansion, hardware iteration, and digital technology research and development.
岸迈生物 completes $120 million Series C funding[8]
Reported:
岸迈生物 announced that it had completed a $120 million Series C financing, co-led by CMBI and Mirae Asset Financial Group, with other investors participating.
Mirae Asset launches arbitrage fund[9]
Reported:
Mirae Asset Investment Managers India launched the Mirae Asset Arbitrage Fund, an open-ended scheme investing in arbitrage opportunities. Its new fund offer was scheduled to be open for subscription from June 3 to 12.
FTC fines Mirae Asset for unfair intra-group transactions[3]
Reported:
South Korea's Fair Trade Commission fined Mirae Asset Financial Group 4.39 billion won and imposed a correction order over unfair intra-group transactions involving affiliates and Mirae Asset Consulting.
Sources11 sources
- 1Mirae Asset Financial Groupen.wikipedia.org
- 2Mirae Asset Group official websitemiraeasset.com
- 3FTC fines Mirae Asset for unfair intra-group transactionskoreatimes.co.kr
- 4Mirae Asset宣布推出Nifty Financial Services ETFeconomictimes.indiatimes.com
- 5Trell完成4500万美元B轮融资inc42.com
- 6高诚生物完成7500万美元D轮融资news.pedaily.cn
- 7梯影传媒完成B3轮融资finance.sina.com.cn
- 8岸迈生物完成1.2亿美元C轮融资finance.sina.com.cn
- 9Mirae Asset推出套利基金thehindubusinessline.com
- 10梯影传媒完成B3轮数亿元融资，由捷成集团、韩国未来资产领投finance.sina.com.cn
- 11Mirae launches Banking and PSU Debt Fundthehindubusinessline.com
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