Mirae Asset Securities Surpasses 100 Billion KRW in Retirement Pension Physical Transfers One Month After Launch

Mirae Asset Securities announced on the 9th that it has taken custody of assets worth over 100 billion KRW and nearly 3,000 accounts through the physical transfer of retirement pensions.

Yonhap News

Since the implementation of the physical transfer system for retirement pensions on October 31, Mirae Asset Securities has received strong support by being chosen by retirement pension customers within just one month.

During November, the amount transferred in retirement pensions, including physical transfers, reached the highest level of the year, and the number of transferred accounts more than doubled compared to the annual average. This demonstrates that customers' money movement has become more active through the physical transfer system for retirement pensions.

Analysis of the types of assets transferred by customers showed that Exchange-Traded Funds (ETFs) accounted for the largest share at 25%. Funds and deposits ranked second and third, respectively. Regarding the source of transferred customers, those who transferred from banks accounted for 64.6%, while customers transferring from other securities firms made up 30%.

The customers who transferred this time are interpreted as reflecting demand from those who felt inconvenienced by system limitations that prevent real-time ETF trading and sought to move to securities firms where ETF trading is more convenient through physical transfers.

Jung Hyo-young, Head of the Pension Consulting Division at Mirae Asset Securities, said, "Since the introduction of the physical transfer system for retirement pensions, customers' interest in investment products such as ETFs has increased." He added, "We will do our best to provide better services than before and to manage mid- to long-term returns for our customers."