Mirae Asset founder donates dividends for nine years

By Kim Bo-eun

Park Hyeon-joo, founder and global investment and strategy officer of Mirae Asset Financial Group.

Mirae Asset Financial Group founder Park Hyeon-joo has decided to donate his last year's dividend of 1.6 billion won ($1.41 million), the group said Wednesday.

It is the ninth straight year of dividend donation as his part of his social contribution.

His decision came after Mirae Asset Global Investment, the group's asset management unit, decided at its shareholder meeting Friday to pay the dividend to Park, the financial group's global investment and strategy officer.

Park has been donating all his dividends since 2010 and this year's amount brings the total to 23.2 billion won.

The chairman said in a letter to employees in 2008 that he would donate the dividends he receives to young people, starting in 2010.

The funds are used for students supported by the Mirae Asset Park Hyeon-joo Foundation and other social welfare projects.

After launching Mirae Asset's asset management unit in 1997, Park established an education foundation the following year.

In 2000, he set up the Mirae Asset Park Hyeon-joo Foundation, using 7.5 billion won of personal funds.

The foundation has been providing scholarships to students since 2007.

Under its student exchange program, it has sent 5,117 students to 50 countries so far.

It has given 3,391 students domestic scholarships.

A total of 270,000 students have taken part in various programs that the foundation has been running.

"The world is changing fast but we cannot lose a warm heart," Park said in a New Year message last year. "Beneath Mirae Asset's contributions to society is a spirit of love for society and its people."