Mirae Asset Group Unveils Vision for Indian Market Expansion

In a significant move to bolster its presence in the Indian financial sector, Mirae Asset Group, a leading South Korean financial services conglomerate, has announced its ambitious vision for the Indian market. This announcement came during a ceremony held at the Fairmont Hotel in Mumbai, India, on March 7, marking the 100th day since the acquisition of Mirae Asset Sharekhan, a premier retail brokerage firm in India. The event, themed "Creating the Future Together," saw the attendance of key industry figures, including Park Hyun-joo, chairman of Mirae Asset Group, who shared insights into the group's global growth strategy and management ethos.

Strategic Alliance to Foster Financial Ecosystem in India

Park Hyun-joo emphasized the significance of merging Mirae Asset's global financial acumen with Mirae Asset Sharekhan's extensive local network to cultivate a dynamic and innovative financial ecosystem in India. "With operations in 19 countries and managing over 870 trillion won ($600 billion) in assets under management (AUM), Mirae Asset stands as a leading global financial group," Park stated. He reiterated his commitment to driving the success and growth of the Indian subsidiary through trust, innovation, passion, and a steadfast dedication to customer satisfaction.

Expanding Horizons: Mirae Asset's Ambitious Goals in India

The strategic partnership between Mirae Asset Group and Mirae Asset Sharekhan is poised to harness the combined strengths of both entities to invigorate the financial landscape in India. Following the acquisition, Mirae Asset's Indian subsidiary has already amassed over 5.2 million customer accounts on a consolidated basis. The group is now setting its sights on expanding its wealth management and investment banking operations, aiming to rank among the top five securities firms in the country. With a robust foundation of over 130 branches and more than 4,400 business partners across India, Mirae Asset is strategically positioned to achieve this ambitious goal.

Leveraging Technology for Future Growth

Industry analysts anticipate that Mirae Asset Securities will enhance its comprehensive wealth management services in the Indian market, taking advantage of the rapid digital transformation and the burgeoning fintech sector. A spokesperson from Mirae Asset Securities revealed plans to delve into investment opportunities in Indian startups with high technological prowess. "We are keen on exploring investment opportunities in Indian startups that exhibit strong technological capabilities," the spokesperson remarked. Furthermore, Mirae Asset aims to offer tailored asset management solutions utilizing artificial intelligence (AI) technology and to develop a digital platform to showcase Indian-related financial products and services to a global audience.