Mirae Asset Chairman Park Hyun-joo "M&A announcement tomorrow... Semiconductor high point theory may be wrong"

Kyung Hee University special lecture… “Negative for leveraged ETFs”

(Seoul = Yonhap News) Reporters Lim Eun-jin and Kwak Yoon-a = Mirae Asset Group Chairman and Global Strategist (GSO) Park Hyun-joo announced an M&A announcement on the 28th.

In addition, he said that there was a “possibility of wrong” regarding the semiconductor peak theory that some people were concerned about, and that he was “a negative person” regarding leveraged ETFs.

Chairman Park said this in a special lecture titled ‘Global Capital Market, Leap of the Next Generation, and a New Path for the Korean Economy’ held at Kyung Hee University’s Seoul campus on the 27th. This event was held to commemorate the 60th anniversary of the establishment of Kyung Hee University Graduate School of Business.

He said, “The M&A of Mirae Asset will be announced tomorrow (28th) afternoon,” but did not provide further details.

However, he said that in the future, he will continue to conduct M&A targeting companies in countries with larger economies than Korea, adding, "The places I want to do it the most are the United States and China."

He continued, “M&A (in progress) in mainland China will probably be completed within this year.”

Regarding the semiconductor peak theory, he said, “There is a high possibility that it is wrong.”

He pointed out, “There are only four companies, including Changshin Memory, that can make memory and HBM. If the price goes up due to supply shortage, you can buy it, but it is difficult to expand.”

In addition, he emphasized that “he was a negative person” about leveraged ETFs.

He explained, “We do not create products for the company’s profit,” and “If I had liked (leveraged ETF), I could have done it in Hong Kong, but I didn’t. I was afraid that Koreans would lose out.”

He continued, “Double, triple, and ten times the US coin leverage is something you shouldn’t do,” and added, “I got the feeling that I should never do it.”