Mirae Asset Securities announced on the 13th that it received approval for general currency exchange operations from the Ministry of Economy and Finance on the 5th.
With this approval, individual customers visiting Mirae Asset Securities can now use currency exchange services for purposes such as travel and study abroad funds, similar to banks, beyond just investment purposes.
In July 2023, the Ministry of Economy and Finance amended the Foreign Exchange Transaction Regulations to allow securities firms that receive approval for changes in foreign exchange operations to conduct general currency exchange beyond investment purposes. Mirae Asset Securities had previously been able to conduct general currency exchange for corporate clients, and with this new approval, the scope has been expanded to include individual clients.
Additionally, on the 10th, the Foreign Exchange Transaction Regulations were further amended to support general currency exchange operations at securities firms. This additional amendment now allows cash exchange at securities firm counters, and Mirae Asset Securities is preparing to launch this service.
A representative from Mirae Asset Securities stated, "We are preparing services that provide new benefits not only to our investment customers but also to travelers and students studying abroad, aiming to launch within this year."
Previously, Mirae Asset Securities launched the 'Target Exchange Rate Auto-Exchange Service' in October last year. Customers using Mirae Asset Securities' Mobile Trading System (MTS), M-STOCK, can use a service that automatically exchanges currency when the exchange rate they set is reached.
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