Mirae Asset Securities posts KRW 1T quarterly net income — a Korean securities industry first

Mirae Asset Securities on May 12 reported Q1 2026 consolidated net income of KRW 1.0019 trillion, up 288% year-over-year, and operating income of KRW 1.3750 trillion, up 297%. Revenue rose 138% to KRW 14.4287 trillion. The results mark the first time a Korean securities firm has crossed the KRW 1 trillion threshold on both metrics in a single quarter.

The headline driver was a KRW 804 billion fair-value gain on global investment assets, including SpaceX and other alternative-asset holdings. A separate cornerstone investment in a Hong Kong-listed company contributed an additional KRW 156 billion in profit. Market participants are watching closely for SpaceX's anticipated IPO in Q2 2026, which would trigger an additional large fair-value realisation for Mirae Asset.

Core brokerage metrics also hit records. KOSPI trading between 7,000 and 8,000 powered the brokerage division to KRW 459.4 billion in operating income — an all-time high. The wealth management (WM) unit earned KRW 112.5 billion, also a record. Overseas subsidiaries in the U.S. and India generated KRW 243.2 billion in pretax income, +22% quarter-over-quarter and the highest since Mirae Asset's initial international expansion in 2004.

Asset gathering accelerated sharply. Total AUM stood at KRW 600 trillion at end-2025; by May 10, 2026 it had risen to KRW 776 trillion — an increase of KRW 176 trillion in under six months. Management attributed the inflows to a structural money shift from bank deposits to securities accounts, particularly in pension assets, amid the bull market in Korean equities.

The earnings report signals a structural shift in Korean capital markets: retail participation is deepening, domestic institutions are diversifying into global alternatives, and overseas revenue is now a meaningful contributor. The next catalysts are SpaceX's IPO pricing and Mirae Asset's Q2 guidance update.

Not investment advice. Verify all figures with primary sources before acting.