Mirae Asset Market Cap Overtakes Shinhan as Bank-Led Finance Order Shifts

As South Korea’s stock market rally continues, a “money move” of funds into equities is reshaping the financial industry. Against this backdrop, Mirae Asset Group’s market capitalization has overtaken Shinhan Financial Group. For years, the top ranks of financial-sector market value were led by bank-centered financial holding companies. Now, as more money flows into the stock market, non-bank financial groups are gaining greater visibility. The change illustrates how the bank-centered financial order in Korea is being unsettled. Source: mk.co.kr