Since June 2025, Mirae Asset Vietnam Securities has officially completed an important step in its localization strategy, with the appointment of Ms. Nguyen Hoang Yen as General Director. The market cannot avoid questions about whether this "top-level" change will affect business operations, operating culture and especially the financial results of one of the largest foreign securities companies in Vietnam?
2025 business results: clear growth compared to the previous year
According to the 2025 business results report, Mirae Asset Securities recorded pre-tax profit of 938 billion VND, an increase of about 10% compared to the same period in 2024. In the context of the Vietnamese stock market facing many fluctuations, strong differentiated cash flow and unstable investor sentiment, this growth is assessed as positive and reflects the effective risk management capacity of the enterprise.
More notably, revenue in 2025 increased by 18% compared to the same period, reaching VND 2,986 billion, showing a substantial expansion in operating scale, instead of just improving profits thanks to short-term factors or reducing operating costs. Core business segments such as investment consulting, source business, margin lending, proprietary trading and investment banking services (IB) continue to play a pillar role, while new products such as fund certificates are also designed to better suit the needs of new investors.
Vietnamese CEO: A strategic or momentary step?
The appointment of a Vietnamese General Director from June 2025 was once considered an important milestone in Mirae Asset Group's strategy of deeper localization in Vietnam. Instead of strengthening "Koreanization" of the operating model, the Group chose the opposite approach: maintaining global governance standards, while giving more initiative to a team of leaders who understand the domestic market.
Reality shows that the transfer process took place quite smoothly. Business activities still maintained continuity, without recording major disruptions in key personnel or long-term strategies. Even many business segments are assessed as operating more flexibly and efficiently, thanks to their ability to make quick decisions, close to market developments and Vietnamese investor sentiment.
The positive business results of 2025 partly reflect the initial success of this strategic calculation.
Firm leading position among foreign securities companies
As one of the earliest securities companies to enter the Vietnamese market, Mirae Asset still maintains its leading position in the group of securities companies with foreign capital in Vietnam. This company currently owns the highest margin balance, the largest equity and the highest market share in foreign investors.
Advantages in capital scale and management capacity help the company maintain competitiveness even in volatile market periods. Notably, by the end of 2025, Mirae Asset Vietnam still maintained its position in the Top 8 securities companies with the largest market share on the HOSE exchange. This is not an easy result to achieve in the context of increasingly fierce competition between domestic securities companies and the entry of many new business models.
Benefiting from the parent company's global strategy
Not only relying on internal strength in the Vietnamese market, Mirae Asset Securities also indirectly benefits from the strategic steps of the parent group. Recently, Mirae Asset made a big splash when announcing an early investment in SpaceX by Elon Musk, which brought in estimated profits about 15 times (about 20,000 billion KRW) compared to the initial investment capital.
This deal is not only of financial significance, but also affirms Mirae Asset's ability to identify long-term trends and different investment tastes in the global market. At the same time, the group is also promoting a strategy to encroach on the field of digital assets and real asset digitization (Real World Assets - RWA), a trend expected to reshape the financial market in the next decade.
In that general picture, Mirae Asset Securities is considered one of the units with many conditions to benefit. With an increasingly complete technology platform, large capital scale and a large customer base, the company has the ability to quickly access, distribute and localize new investment products and solutions when the legal framework in Vietnam allows.
Prospects ahead: Slow but steady steps
Overall, the picture behind Mirae Asset Securities' localization strategy shows many positive signs: Impressive profit growth, a new leadership apparatus operating effectively, while the leading position in foreign securities companies is still being consolidated.
More importantly, businesses not only pursue the goal of expanding market share, but also aim for in-depth growth, associated with risk management standards, technology investment and sustainable development. In the context of the Vietnamese stock market entering a new phase with expectations of upgrading and attracting long-term capital flows, Mirae Asset Vietnam is considered one of the names capable of taking advantage of both internal advantages and global trends.
