Park Hyunju, Mirae Asset chairman, signals M&A announcement with Japanese securities firm on the 29th
Park Hyunju, chairman of Mirae Asset Group and global strategy officer (GSO), said the company would announce an acquisition of a Japanese securities firm on October 29.
Speaking at a special lecture titled 'Global Capital Markets, the Next Generation's Leap Forward, and a New Path for the Korean Economy' at Kyung Hee University's Seoul Campus on October 27, Park said, "Mirae Asset's M&A will probably be announced tomorrow afternoon (October 28)," adding, "The M&A underway in mainland China will probably be completed within this year."
However, speaking with reporters after the lecture, Park corrected himself, saying, "(The target of the M&A to be announced soon) is a securities firm in Asia," and "The board meeting will be held on October 29, not October 28." The securities firm targeted for the M&A is reportedly Japanese. The Chinese company whose M&A could be completed this year is also said to be a financial firm.
Park said he would continue pursuing M&As targeting companies in countries with economies larger than South Korea's, adding, "The places I'd most like to enter are the United States and China." On claims that the semiconductor industry has peaked, he said, "The AI revolution has probably only reached 10% to 20% of its potential, at most," and explained that "the peak theory is likely to be wrong."
Park said, "There are only four companies capable of making memory chips and high-bandwidth memory (HBM), including ChangXin Memory Technologies," adding, "Prices may rise due to a supply shortage, but it is difficult to increase supply."
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Regarding leveraged ETFs, Park said, "I used to be negative about them. We don't create products for the company's profits," adding, "If I had liked leveraged ETFs, I could have offered them in Hong Kong, but I didn't, because I was worried South Koreans might lose money."
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