Deal signed with UOB Kay Hian of Singapore; global network expansion accelerates

Exterior view of the Mirae Asset Securities headquarters building [Mirae Asset Securities]
Exterior view of the Mirae Asset Securities headquarters building [Mirae Asset Securities]

Mirae Asset Securities is partnering with a Singapore brokerage to broaden foreign investors' access to South Korea's stock market.

The company announced Monday it has signed a Foreign Investor Omnibus Account service agreement with Singapore-based UOB Kay Hian and will begin offering the service.

The deal was led by Mirae Asset Securities' Singapore subsidiary, which spearheaded negotiations with the local brokerage.

UOB Kay Hian is one of Singapore's leading securities firms. Headquartered in Singapore, it has built a network spanning Greater China and the broader ASEAN region, and has established a competitive position in brokerage and wealth management over more than a century of operations.

Beyond this agreement, Mirae Asset Securities is pursuing Foreign Investor Omnibus Account service partnerships with multiple other overseas brokerages. The company plans to accelerate its efforts to attract global investors by expanding its international network and strengthening its investment infrastructure.

A Foreign Investor Omnibus Account is an account held in the name of an overseas financial investment firm that allows foreign investors to buy, sell and settle domestic shares in bulk without opening individual accounts. South Korea's financial authorities introduced the Foreign Investor Omnibus Account regime in 2017.

"We are continuously expanding collaboration with overseas financial institutions to improve global investors' access to the Korean stock market," a Mirae Asset Securities official said. "We will keep providing a more convenient investment environment based on our global network and digital infrastructure."


moon@heraldcorp.com