South Korea is looking to expand amid the global competitiveness in financial market. Here are the new updates about their actions, performances as well as limitations.
Mirae Asset Asset Management entered the Indian market in earnest with the establishment of an Indian Mumbai corporation in 2006 and the launch of the first fund in 2008 and continued to invest for 15 years. After the global financial crisis, foreign operators also remained firm when withdrawing from the Indian market or converting to joint ventures. Seeing India’s potential comparable to China, it worked hard on localization and grew into India’s ninth-largest operator.
Korea Investment Trust Management sold the “Korea Investment Vietnam Growth Fund” through Nomura Securities in Japan in 2018. It is the first fund to invest in a single country by establishing it by Tokyo Marine Asset Management and entrusting it to operate it by Korea Investment Trust Management, pioneering case of “fund exports” that exports public offering funds overseas.
The financial investment industry in South Korea is focusing on expanding global territory to diversify its profits. It has been focusing on accumulating success stories by increasing global IB (investment finance) capabilities and expanding digital-based retail (retail finance).
At the forefront is Mirae Asset, which marks the 20th anniversary of its overseas expansion this year. Mirae Asset entered the global market in 2003 when it was establising new a Hong Kong subsidiary for the first time among domestic operators. In November 2011, Mirae Asset Management (CEO Choi Chang-hoon and Lee Byung-sung) acquired Canada’s “Horizon ETFs” and ignited the overseas expansion of Korean ETFs. It also acquired the U.S. ETF operator “Global X” in July 2018 as part of its U.S. attack, which accounts for more than 70% of the global ETF market.
