Mirae Asset Daewoo Securities Co. will expand the current 6 trillion won (US$5.28 billion) of investment assets at home and abroad further and respond to a rapid change in the mobile era by enlarging wealth management (WM) offices this year, said Choi Hyun-man, the company’s executive vice chairman, at a shareholder meeting held on March 27.
Regarding the company’s business performance last year, Choi said, “I am disappointed that the company failed to achieve the milestone of 1 trillion won (US$879.74 million) in earnings before tax. But, it was a meaningful year as the company advanced its basis and structure as a global investment bank.” Mirae Asset Daewoo recorded a pre-tax profit of 585 billion won (US$514.56 million) last year.”
For overseas real estate investment, Choi said, “Emerging markets, including Asia where prices are still low, and residential facilities, which have good location conditions, still have growth potential. In addition, the demand for travel is increasing so we think that hotels in Europe are promising as well.”
He said Mirae Asset Daewoo would also proactively invest in real estate assets just like investment banks and asset managers which are good at alterative investment.