Mirae Asset: Korea's Mutual Fund Pioneer

Abstract

Park Hyeon-Joo, the founder and Chairman of Korea's earliest and largest mutual fund company, plans to expand internationally. After first offering emerging market funds to his Korean customers, the company then began selling local-currency funds in India and Brazil. Now he has to decide his next steps. Should he build on his emerging market expertise and focus his business expansion in developing countries? If so, where should he concentrate his efforts - India, Brazil, China, or other countries? Or should he instead focus on expanding into developed markets through operations in New York and London?