[비즈한국] Mirae Asset Securities is accelerating the expansion of its overseas business. Following the introduction of its global integrated investment platform ‘MAPS,’ the firm is pushing to enter the U.S. and Japanese markets. It also achieved record-high performance for its overseas subsidiaries in the second quarter of this year. As Mirae Asset Securities attempts to expand its footprint in the global market, attention is focused on whether it can quell the controversy sparked by the SpaceX ‘zero allocation’ incident and strengthen its capabilities in supplying global financial products.
Mirae Asset Securities is revamping its Mobile Trading System (MTS) into a global integrated investment platform. According to the company, starting October 1, the name and logo of the MTS will change from ‘M-STOCK’ to ‘MAPS (Mirae Asset Portfolio Service).’ Along with this brand change, features within the MTS will also be expanded. In MAPS, users will be able to check not only traditional investments like stocks and bonds, but also information on digital assets.
Mirae Asset Securities first launched the MAPS service in the Hong Kong market. The firm’s Hong Kong subsidiary unveiled MAPS at the end of June. Mirae Asset Securities described MAPS as an “integrated investment platform that allows global investors to access various financial products and markets on a single platform regardless of national borders.” The company also announced plans to phase in AI-based asset management functions. Mirae Asset Securities stated, “We are unifying our platform under the MAPS brand, and we will introduce it sequentially while providing services in compliance with each country’s regulations.”
This strategy stems from the goal of connecting the global market through a single platform. Park Hyeon-joo, Chairman of Mirae Asset Group and Global Strategy Officer (GSO), said at the MAPS launch event for the Hong Kong subsidiary, “Mirae Asset’s goal is to build a global investment platform, and Hong Kong is the starting point,” adding, “We will start in Hong Kong and expand to Japan, the United States, and the entire world.”
Indeed, Mirae Asset Securities has been attempting to broaden its overseas base. It pursued the acquisition of U.S. online investment platform Public.com in August but recently stopped the review process. While formalizing the discontinuation of the review through a regulatory filing on September 17, Mirae Asset Securities added, “We will continue to seek opportunities to enter the U.S. retail market.” Public.com is a platform where users can trade stocks, government bonds, ETFs, and virtual assets, and share or discuss portfolios with other investors, making it similar in form to the integrated platform Mirae Asset Securities is pursuing.
The company is also preparing for a re-entry into the Japanese market. On August 27, it announced that it was considering the acquisition of a Japanese brokerage firm. Mirae Asset Securities previously entered the Japanese market during the Daewoo Securities era but had no Japanese presence after withdrawing in 2016. Currently, in the Asian region, it has expanded into countries including Hong Kong, Mongolia, Singapore, Indonesia, China, and Vietnam.
The firm stands at the forefront among domestic brokerage firms that have expanded overseas. According to a survey by the Financial Supervisory Service, as of the end of 2025, 16 domestic brokerage firms had 93 branches (83 local subsidiaries, 10 offices) in 15 countries. Among them, Mirae Asset Securities held the largest share with 29 (26 local subsidiaries, 3 offices). It was followed by Korea Investment & Securities with 11 (9 and 2), NH Investment & Securities with 8 (7 and 1), KB Securities with 7 (5 and 2), Kiwoom Securities with 5, and Samsung Securities with 5 (3 and 2).
The performance of Mirae Asset Securities’ overseas subsidiaries is also reaching record levels this year. In the second quarter of 2026, the overseas subsidiaries recorded a pre-tax profit of 609.1 billion won (consolidated basis), the highest ever. Compared to the same period last year (106.1 billion won), this is a 474% increase. The U.S., Hong Kong, London, and Singapore markets led the performance, generating 557.7 billion won in profit from these four regions. The assets of clients of the overseas subsidiaries stand at 91 trillion won and are nearing the 100 trillion won mark.
However, the firm is facing unexpected risks as it pushes to supply global investment products alongside its overseas expansion. In June, ahead of the NASDAQ listing of U.S. aerospace company SpaceX, Mirae Asset Securities was the only domestic brokerage to open subscriptions for the public offering, but it was not allocated any shares by the lead underwriter, Goldman Sachs, in the final allocation. As Mirae Asset Securities was excluded despite being listed as part of the underwriting syndicate in SpaceX’s investment prospectus, the ‘zero allocation’ incident led to controversy over a potential ‘Korea Passing.’
The aftermath of the SpaceX zero allocation continues to this day. The Financial Supervisory Service conducted high-intensity inspections from June to July to investigate whether Mirae Asset Securities had informed investors about the possibility of zero allocation, whether it protected investors, and if there were issues in the subscription process. When a second round of inspections was conducted in September, the Mirae Asset Securities labor union rebelled, claiming the oversight was excessive.
In statements released on September 16 and 17, the union criticized the regulator, saying, “The authority to supervise was not granted to reign over the employees of financial companies,” and “We hope you will reflect on the fairness, necessity, and procedural legitimacy of the inspections.” The union added, “There were cases where staff working in regional offices were called to Seoul, questioned for just 10 minutes, and sent back. You must respect the basic rights of employees,” and announced plans for a protest in front of the Financial Supervisory Service.
Restoring investor trust is also a task. There was significant dissatisfaction from investors whose deposits were tied up after the allocation itself did not occur, contrary to expectations. Mirae Asset Securities had been considering financial and non-financial compensation measures for individual and institutional professional investors who participated in the SpaceX subscription, but discussions on compensation have gone quiet as the authorities’ intense inspections continue.