Mirae Asset Securities Chairman Choi Hyun-man, left, holds an agreement with IBK Chairman Yoon Jong-won after the two outfits agree to cooperate in helping the country’s SMEs. Photo courtesy of Mirae Asset Securities

Top brokerage will cooperate with state-backed lender to help SMEs

Mirae Asset Securities, South Korea’s leading brokerage house, recently announced that it would join forces with the Industrial Bank of Korea (IBK) to support small- and medium-sized enterprises (SMEs).

Under the business alliance, the two plan to help SMEs to brace for online retail businesses with more convenient settlement systems and find new digital businesses.

Mirae Asset Securities Chairman Choi Hyun-man and IBK Chairman Yoon Jong-won took part in the event of signing the agreement and discussed related issues.

Mirae Asset Securities said that it would integrate its convenient settlement services, including Mirae Asset Pay, into the IBK wireless settlement systems.

In addition, the Seoul-based securities firm said that its open-platform program would underpin small business owners in cross-border e-commerce.

Last October, Mirae Asset Securities came up with Mirae Asset Pay for iPhone users, which is powered by near-field communication (NFC) technologies.

NFC refers to protocols, which enable communications between two electronic devices over a very close distance.

In late 2018, Mirae Asset Securities became the first brokerage to team up with China’s Tencent for the global settlement services of the latter’s WeChat Pay.

“We plan to offer more convenient settlement services to SMEs along with IBK, which put forth great efforts to help SMEs deal with the economic difficulties,” Choi said.

“In addition, the two corporations will join forces to provide new investment opportunities through fresh digital businesses.”

Mirae Asset Securities has emerged as the country’s top brokerage by working on not only traditional brokerage services, but also investment banking, IPO underwriting, and wealth management.

In particular, the company has briskly tapped into the global markets (See the Korea News Plus article published on May 12). The entity 11 overseas subsidiaries in such cities as New York, London, Beijing, Shanghai, and Singapore.

Mirae Asset Securities has vowed to look for competitive global investment opportunities by investing in valued assets around the world based on its global locations and networks.