Mirae Asset’s overseas profit jumps tenfold, targets Japan, Australia

Mirae Asset Securities CI

South Korea’s Mirae Asset Securities is accelerating its push into advanced financial markets after posting a surge in overseas earnings, with Japan and Australia emerging as its next strategic targets.

The move marks a shift from its earlier focus on emerging markets, as Chairman Park Hyeon-joo seeks to position the group as a global wealth management powerhouse.

According to industry data, Mirae Asset Securities’ overseas subsidiaries posted pre-tax profit of 498.1 billion won ($339 million) in 2025, up more than tenfold from 48.5 billion won in 2023.

A notable shift in profit composition also emerged. Advanced-market operations — including those in the United States, Hong Kong, the United Kingdom and Singapore — swung from losses in 2023 to 331.5 billion won in profit in 2025, surpassing earnings from emerging markets, which totaled 166.6 billion won.

The improved profitability and stability of developed markets have prompted Mirae Asset to target Japan and Australia, two of the world’s largest capital markets.

Japan represents a key retail opportunity. The country has seen a surge in individual investment flows following the introduction of the revamped NISA (Nippon Individual Savings Account) tax-free investment scheme. Investment through NISA accounts increased by more than 10 trillion yen in 2025 alone, while the number of accounts jumped by around 5 million over two years, supported by expanded tax benefits.

Australia, meanwhile, is viewed as a strategic hub for institutional capital. Its superannuation system — one of the world’s largest pension pools — holds about 4,700 trillion won in assets. Mandatory contribution rules, which require employers to contribute 12 percent of wages, channel a steady influx of funds into the market, estimated at around 4 trillion won per week.

Mirae Asset aims to establish a strong foothold as an institutional partner in Australia while tapping Japan’s fast-growing retail segment through local subsidiaries.

The company also expects synergies with its asset management affiliates already operating in both markets. In Japan, it runs Global X Japan through a joint venture with Daiwa Securities Group, while in Australia it operates Global X Australia and robo-advisory firm Stockspot.

Growth from existing overseas bases has further reinforced its strategy. The United States accounts for 43 percent of overseas profit, driven by synergies with ETF provider Global X, while Hong Kong contributes 17 percent through investment banking deals.

Emerging markets remain a key pillar. India contributes 14 percent of total profit following the acquisition of Sharekhan, while Vietnam accounts for 10 percent as a major revenue source.

The aggressive global expansion has also boosted the firm’s market valuation. As of Tuesday, Mirae Asset Securities’ market capitalization stood at 40.2 trillion won, nearly eight times higher than a year earlier, with its price-to-book ratio rising from 0.5 to 3.52.

The company’s enhanced valuation has been supported by strong global investment performance and shareholder-friendly policies, including a 635.4 billion won return program announced in February, equivalent to 40 percent of net profit.