On behalf of Mirae Asset Securities I would like to thank you for your generous support and encouragement which helped us to achieve strong results for many consecutive years. In particular,
in March and October of 2007, we successfully completed a large scale increase in our paid-in capital and convertible bond offering, securing a solid foundation for Mirae Asset Securities to grow into a major investment company

Mirae Asset Securities also took top market share position in stock trades while deposits its wealth management-type financial products exceeded well over KRW20 trillion for the first time in 2007. In addition, total assets under management (AUM) exceeded over KRW47 trillion.

In order to secure various stable sources of income, we have been active in pursuing new business in the areas of trusts, derivatives, retirement pensions, and Cash Management Accounts while expanding our sales network to grow our customer base.

Mirae Asset Securities is also making vigorous efforts to move into overseas markets and we made our first step towards becoming a world-class investment company with the official opening of a subsidiary in Hong Kong in January of 2006 and our Vietnam subsidiary in December 2007.

In the IB sector, Mirae Asset Securities made qualitative progress and was recognized for its efforts, winning the“ Best IPO Prize”at the Korea IB Awards many years in a row. In addition, we posted excellent results, including one of the highest net income among Korea’s securities firms, with the development of real estate fund product and from structured financial products.

We at Mirae Asset Securities are fully aware that these stellar achievements could not have been realized without the ceaseless support of our shareholders. As we continue to seek to live up to your expectations, we will put our utmost efforts into achieving better performances next year.