Mirae Asset Group's Strategic Expansion in India

Following the acquisition of Sharekhan, South Korea's Mirae Asset Group is aggressively pursuing growth in India's burgeoning retail and wealth management sectors. This strategic move, marked by the rebranding to Mirae Asset Sharekhan, underscores the conglomerate's ambition to capitalize on India's rapid economic growth and vast population potential.

Chairman's Visit Highlights Commitment

Mirae Asset Chairman Park Hyeon-joo's recent visit to India for an on-site inspection of Mirae Asset Sharekhan highlights the group's commitment to the Indian market. Focusing on the wealth management sector, Park's visit aimed at understanding the local business environment and enhancing the firm's investment banking capabilities.

Capital Increase to Boost Investment Banking

In a significant move to strengthen its investment banking business, Mirae Asset Securities has completed a 300 billion won capital increase in Mirae Asset Sharekhan. This strategic investment is part of a broader corporate value enhancement plan, projecting a substantial increase in annual profits from global operations.

Expanding Retail Operations

The acquisition of Sharekhan has provided Mirae Asset with access to a substantial retail customer base, including about 10,000 ultra-high-net-worth clients and approximately 2.27 million individual customers. With the total number of individual customer accounts expected to rise to 5 million, the potential for growth in retail operations is immense.

India's Economic Landscape Offers Promising Opportunities

India's expected GDP growth rate of around 7% this year, significantly higher than the global average, presents a promising opportunity for Mirae Asset. The low penetration of stock accounts among India's population further indicates high potential for expansion in the financial sector.

Future Prospects

With only 10% of India's over 1.4 billion population having stock accounts and merely 3% being active, the strategic importance of emerging markets like India for global companies cannot be overstated. Mirae Asset's expertise in wealth management and investment banking positions it well to leverage India's economic growth and tap into new customer bases.