Mirae Asset Market Cap Overtakes Shinhan as Investing Gains Ground

Mirae Asset Group’s market capitalization has overtaken Shinhan Financial Group, highlighting a shift in South Korea’s financial sector from savings toward investment. The original report said a buoyant stock market and a sharp rise in trading value have boosted securities firms’ earnings, prompting a broader revaluation of the brokerage industry. Major securities names such as Korea Investment & Securities, Samsung Securities and NH Investment & Securities showed strength, while banking-led financial groups including KB, Shinhan and Hana were relatively sluggish. Diversified revenue sources, including wealth management, were also cited as supporting securities firms’ rising value. The change suggests that stronger investment demand is being reflected in market-cap rankings. Source: cited from mk.co.kr.