Mirae Asset Group founder Park Hyeon-joo / Courtesy of Mirae Asset Group

The global assets under management (AUM) of Mirae Asset Global Investment has exceeded 340 trillion won ($245 billion) as of end-May, the financial service provider said Thursday. About 40 percent, or 147 trillion won, is managed overseas.

This a remarkable feat, achieved 21 years after the launch of the firm's global business in 2003 at the directive of Mirae Asset Group founder Park Hyeon-joo, then serving as its global strategy officer. At the time, few believed Mirae Asset would be able to compete with global powerhouses including Goldman Sachs and Merrill Lynch.

However, the firm's reach of 340 trillion won now extends to 16 regions including the U.S., Vietnam, Brazil, the UAE, the U.K., India, Japan, China, Canada, Colombia, Australia and Hong Kong.

Underpinning the firm's growth are 585 exchange-traded funds (ETFs) with 170 trillion won in net assets. This is significantly higher than Korea's ETF market capitalization of 150 trillion won.

Mirae Asset acquired Canada's Horizons ETFs in 2011, followed by American Global X in 2018 and Australia's ETF Securities in 2022. The acquisition of the Australian entity was a Korea first whereby a local asset manager's overseas revenue surged enough to take over an overseas ETF operator.

This year, Park won the International Executive of the Year Award presented by the Academy of International Business (AIB).

The award ceremony will be held at Seoul's Lotte Hotel in July. Park will deliver a keynote speech on the first day of the five-day event that will end July 6.