Mirae Asset Global Investments Case Study
Founded in 1997 following the Asian currency crisis, Mirae Asset Group provides investment services that span the world’s largest markets, including China, India, and the United States. Headquartered in Seoul, Korea, the business group includes Mirae Asset Securities, Mirae Asset Life Insurance, Mirae Asset Capital, and Mirae Asset Global Investments. Mirae’s asset management services include equity and fixed income products, exchange traded funds, and alternative options such as real estate, private equity, and hedge funds. In Korea, Mirae Asset Global Investments has about 250 employees.
Overall, we are extremely happy with AWS—it has paved the way for us to further improve our efficiency.”
IT Senior Manager,Mirae Asset Global Investments
Mirae Asset Global Investments relies heavily on its global websites to market to clients and prospects. These websites include a primary website for the principal business and individual websites for each subsidiary. However, the collocated servers, storage, networks, and associated systems used to run the websites were reaching end-of-life and performance was starting to degrade. Server hard disks were also reaching capacity limits and contributing to the websites’ poor performance. Unless Mirae Asset Global Investments comprehensively refreshed the infrastructure supporting its websites, the business risked losing prospective customers to its rivals.
Why Amazon Web Services
Mirae Asset Global Investments evaluated several cloud services providers and decided to migrate its websites to Amazon Web Services (AWS). “We completed a comparative analysis of AWS against two other leading multinational cloud services providers, and found that AWS provided the pricing model and scalability that best met our requirements,” says Yongmin Choi, IT senior manager at Mirae Asset Global Investments. The project represented the first time a finance services business in Korea had migrated its workloads into the AWS Cloud.
Mirae Asset Global Investments moved its web servers and database to AWS over two months, six weeks of which comprised a technical review. “We received a lot of support from AWS in designing an architecture that met our requirements, and in undertaking the migration,” says Choi. Mirae Asset Global Investments’ web servers are running in Amazon Elastic Compute Cloud (Amazon EC2) instances, and its database in Amazon Relational Database Service (Amazon RDS) stores customer data excluding financial transaction information. Amazon CloudFront distributes web content fast and reliably to users regardless of location, while Amazon Route 53 routes users to web resources running in the AWS infrastructure. Amazon Simple Email Service (Amazon SES) enables Mirae Asset to send marketing and information emails to users, while static website images are stored in Amazon Simple Storage Service (Amazon S3). Amazon CloudWatch provides monitoring services including alerts when the infrastructure is not operating optimally.
Once Mirae Asset Global Investments completed the migration, its technology team undertook a three-day AWS Training & Certification “boot camp” to get trained up on AWS services. Choi believes the training will prove extremely useful in future months and years as the business expands its infrastructure on AWS. The organization is using AWS Support Business plan and is extremely pleased with the responsiveness and expertise of the AWS team charged with resolving technical issues.
The stability and performance of AWS has delivered a range of benefits to Mirae Asset Global Investments, including reducing operating costs by more than half. The business has also eliminated the need to invest capital in replacing the aging and increasingly unstable servers running its websites.
By using AWS, Mirae Asset Global Investments overcame prospective clients’ doubts around website availability as its websites are now operating in an infrastructure that has remained available nearly 100 percent of the time. Negligible network latency is also contributing to fast website response times that deliver a high quality experience to users. The business has also been able to release updates and enhancements to its websites about 300 percent faster compared to running in a physical infrastructure in a collocated data center. The business is considering extending its use of AWS to mission-critical workloads such as risk management analysis, intranet system, and high-performance computing at a large scale. Mirae Asset Global Investments is focused on being a growing global investment company with a highly developed infrastructure system in AWS.
“Overall we are extremely happy with AWS—it has paved the way for us to further improve our efficiency,” says Choi. “We are in the process of moving more systems onto AWS.”
About Mirae Asset Global Investments
Founded in 1997 following the Asian currency crisis, Mirae Asset Group provides investment services that span the world’s largest markets, including China, India, and the United States.
AWS Services Used
Amazon Elastic Compute Cloud (Amazon EC2) is a web service that provides secure, resizable compute capacity in the cloud. It is designed to make web-scale cloud computing easier for developers.
Amazon Route 53
Amazon Route 53 is a highly available and scalable cloud Domain Name System (DNS) web service.
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Amazon CloudFront is a fast content delivery network (CDN) service that securely delivers data, videos, applications, and APIs to customers globally with low latency, high transfer speeds, all within a developer-friendly environment.
Amazon Simple Email Service (Amazon SES) is a cloud-based email sending service designed to help digital marketers and application developers send marketing, notification, and transactional emails.
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Amazon Relational Database Service (Amazon RDS) makes it easy to set up, operate, and scale a relational database in the cloud.
Amazon CloudWatch is a monitoring and observability service built for DevOps engineers, developers, site reliability engineers (SREs), and IT managers.
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