Park Hyun-joo, chair of Mirae Asset Group, said he will grow India into a hub for artificial intelligence (AI) innovation. He also noted that he will discover local startups and expand investments in private equity (PE) and corporate finance (IB).
Mirae Asset Global Investments announced on the 14th that it held a seminar themed 'New AGE: The Future Ahead' in Mumbai, India. Key executives, including Park Hyun-joo, the group's global strategist (GSO), Swaroop Mohanty, vice chairman (CEO) of Mirae Asset Global Investments India, and Kim Young-hwan, representative of the innovation and global management division (president), attended.
At the seminar, Park highlighted three key strategies for Mirae Asset's growth in the Indian market: innovation in exchange-traded funds (ETFs), AI transformation, and expansion in the private market. He said, "Mirae Asset will actively introduce various innovative ETFs while leveraging the extensive network of Sharekhan, one of India's largest securities firms, to further enhance market accessibility."
Park emphasized the importance of AI technology in developing differentiated products, referred to as 'killer products.' He stated, "We will create new investment opportunities through the development of AI-based ETF products and will collaborate with Mirae Asset's global affiliates to grow India into an AI innovation hub."
He also noted that they would discover innovative startups and expand investments in PE and IB to promote the growth of the venture capital (VC) market. Recently, Mirae Asset Global Investments India has been investing in fintech companies 'Raise Financial' and 'Credit B,' as well as India's largest food delivery platform, 'Zomato.' As of the end of 2024, the total assets under management (AUM) amount to $590 million (approximately 858.9 billion won).
Mirae Asset Global Investments India's total assets under management (AUM) reached $23 billion (approximately 34 trillion won) at the end of last year, ranking 9th among local asset management firms in India. The AUM for ETFs is $1.5 billion (approximately 2.1837 trillion won), placing it 6th among local ETF management firms in India. Swaroop Mohanty noted, "Mirae Asset, which has led ETF growth in the Indian market, will continue to strive for leadership in the global financial market."