As brokerages have been actively promoting integrated accounts for foreigners through agreements with overseas securities firms, Mirae Asset Securities is entering the integrated account market for foreign investors.
On the 8th, Mirae Asset Securities said it signed an agreement with Singapore-based major securities firm UOB Kay Hian to offer an integrated account service for foreigners and will launch the service.
UOB Kay Hian is the securities affiliate of UOB Kay Hian Holdings, which is listed on the Singapore Exchange (SGX), and is one of Singapore's leading securities firms with a market capitalization of about 4 trillion won.
In particular, it has built a network across Greater China and ASEAN centered on its Singapore headquarters. It also has a solid presence in the Southeast Asia brokerage and wealth management (WM) segments.
In addition to this agreement with UOB Kay Hian, Mirae Asset Securities is pursuing collaborations related to integrated accounts for foreigners with multiple overseas securities firms.
The service was promoted with Mirae Asset Securities' Singapore subsidiary leading talks with local securities firms. Through this service, Mirae Asset Securities expected it could expand opportunities for investors in other Southeast Asian regions, beyond Singapore, to access Korea's stock market.
Meanwhile, as of the first quarter of this year, Mirae Asset Securities manages 660 trillion won in client assets. It manages 582 trillion won domestically and 78 trillion won at overseas subsidiaries.
A Mirae Asset Securities official said, "We are continually expanding collaboration with overseas financial institutions to improve global investors' access to the Korean stock market," and added, "We will continue to provide a more convenient investment environment based on our global network and digital infrastructure."