Mirae Asset Group strives to establish itself as global investment bank powerhouse

By Lee Yeon-woo

Four Seasons Hotel Sydney in Australia / Courtesy of Mirae Asset Group

Mirae Asset Group is striving to become a global investment powerhouse under the leadership of its founder, Chairman Park Hyeon-joo, through active investments in global alternative assets and innovative technologies.

Since 2022, the group has invested over 80 billion won ($55.6 million) in SpaceX, X (formerly Twitter) and xAI. These investments have reportedly grown by approximately 1.5 times in market value and are expected to continue increasing.

The group has also achieved significant returns from investments in global alternative assets, such as luxury hotels in major tourist destinations. For instance, Four Seasons Hotel Sydney was valued at approximately 610 million Australian dollars ($381.8 million) as of September 2024, marking a 79.3 percent increase since its initial investment in 2013. Similarly, Fairmont Orchid in Hawaii has reached a valuation of 380 million dollars, reflecting a 68.9 percent increase since 2015.

Mirae Asset Group is also gaining a competitive edge through bold mergers and acquisitions (M&A).

“Korean companies should focus on creating national wealth through overseas operations and actively pursue M&As to establish a strong presence in the global market,” Park said.

Under Park’s leadership as global strategy officer, the group has expanded overseas, acquiring key entities such as Global X, a leading U.S. thematic exchange-traded funds (ETFs) provider, Australian asset management firm Global X Australia, Australian robo-advisory company Stockspot and GHCO, a European ETF market-making specialist.

As a result, Mirae Asset Group has built the largest global network among Korean financial firms, operating 47 overseas subsidiaries and offices across 19 regions over 21 years of international expansion.

“With 21 trillion won in equity capital and 840 trillion won in global client assets, we aim to evolve from Asia’s leading investment bank into a top-tier global investment bank,” a Mirae Asset Group official said.

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