By Yi Whan-woo
Brokerage homes and funding corporations in Korea are more and more turning to India to capitalize on its quickly rising financial system, which is increasing by greater than 7 % yearly, in addition to its giant inhabitants of 1.4 billion.
India is anticipated to change into the world’s third-largest financial system after the USA and China inside the subsequent three years, in accordance with a number of studies in Seoul and world wide.
Specifically, the nation is taken into account instead sourcing hub within the international provide chain shift from China in the midst of a heightened Sino-American commerce warfare.
Underneath the circumstances, Mirae Asset Securities turned the primary Korean brokerage home to set foot in India in 2018.
In April 2022, the corporate launched its m.Inventory on-line buying and selling platform to increase to retail operations in India.
With the platform, the Seoul-headquartered agency runs 1 million retail buyer accounts, climbing to the eighth place amongst native on-line brokers.
Mirae Asset Securities additionally acquired a 100% stake in Sharekhan Restricted, India’s eighth-largest stockbroker, in December 2023.
The corporate mentioned it desires to maintain its development in India via Sharekhan’s greater than 130 department workplaces and enterprise community spanning some 4,000 companions.
An affiliate of Mirae Asset Monetary Group, Mirae Asset Securities accordingly goals to change into one in all India’s prime 5 corporations within the trade inside the subsequent 5 years.
Mirae Asset International Investments, one other group subsidiary, arrange an workplace for a company entity in Mumbai’s monetary district in 2006.
Since then, it has expanded to different non-banking companies, together with enterprise capital.
It now runs 56 funds which are price roughly 25 trillion gained ($18.5 billion), standing as India’s ninth-largest asset administration agency.
In January, NH Absolute Return Companions, a Singapore-based asset administration firm owned by NH Funding & Securities, fashioned a partnership with Lighthouse Canton.
Headquartered in Singapore, Lighthouse Canton has $3.5 billion in belongings and runs workplaces in main Indian cities corresponding to New Delhi, Mumbai and Hyderabad.
Operated below the wing of the Ministry of Economic system and Finance, Korea Funding Corp. (KIC) opened its fifth abroad workplace in Mumbai in April.
The KIC, a state-run sovereign wealth fund, mentioned it appears to be like ahead to exploring high quality funding alternatives in various belongings, together with enterprise capital, actual property and infrastructure.
As of 2023, the KIC’s whole belongings below administration (AUM) have been valued at $189.4 billion.
The corporate desires to speculate greater than 25 % of its AUM in various belongings by 2025, up from the present 22 %.
