South Korea's largest stock brokerage company Mirae Asset Securities said Monday that it has been recognized as the "Best Securities House in South Korea" by Euromoney at the Euromoney Securities Houses Awards 2024.

The accolade follows Mirae Asset Group Chairman Park Hyeon-joo being named International CEO of the Year by the Academy of International Business in July, making him the first Asian finance leader to receive the prestigious award.

“Despite the challenging environment of high interest rates and geopolitical uncertainties, Mirae Asset Securities has shown impressive growth,” a Euromoney official said.

“The firm has successfully secured new growth engines through global expansion, maintained solid profitability centered on wealth management, achieved enterprise-wide innovation with AI investments and strengthened its robust investment banking franchise.”

According to its recent corporate value enhancement plan, the company is expected to post an additional 100 billion won ($74.8 million) in annual profit from its global business operations following its acquisition of Indian brokerage Sharekhan.

As of the first half of 2024, the firm’s wealth management business recorded 99.1 billion won in operating profit and 262 billion won in net profit, up 15 percent and 26 percent, respectively, from the same period last year.

"Mirae Asset has pioneered new pathways not only domestically but also internationally, positioning itself at the forefront of Korea’s financial exports,” a Mirae Asset Securities official said.

“We will continue to innovate through investments and global business expansion to increase our clients’ wealth and help them prepare for a secure future."