Value context and insight. lkm@koreatimes.co.kr
Mirae Asset chair donates dividends for 15th consecutive year
Mirae Asset Group's Global Strategy Officer and Chairman Park Hyeon-joo / Courtesy of Mirae Asset Group Global
By Lee Kyung-min
Mirae Asset Group’s Global Strategy Officer and Chairman Park Hyeon-joo donated 1.6 billion won ($1 million) in dividends earned last year, bringing his total donations over the past 15 years to 33.1 billion won, the company said Thursday.
He made this commitment in 2008, writing in a letter to Mirae Asset employees that he planned to donate all of his dividends to support the development of the younger generation in Korea.
He first began donating his dividends in 2010 and has continued the annual drive since.
The donation will be routed through two group-operated foundations, each dedicated to supporting either education or career development programs for young people.
Included are scholarship programs, leadership projects and cultural exchange opportunities.
As of last year, the two foundations have invested 106.9 billion won in various social contribution initiatives.
The group said it will continue to nurture future generations, upholding the chair’s motto: “I would rather be the greatest giver than the richest man.”
In his view, science and technology are other key areas for fostering youth development.
“Mirae Asset is dedicated to fostering capitalism rooted in compassion. We will continue our efforts of giving back to the community through the group-wide collaboration, enriching the culture of sharing,” a Mirae Asset official said.
Meanwhile, Mirae Asset Global Investments surpassed 200 trillion won in global exchange-traded fund (ETF) assets under management as of December — a milestone reached just three years after crossing the 100 trillion won mark in 2021.
Underpinning the explosive growth of the world’s 12th-largest ETF manager by net asset value are 624 financial derivatives spanning 13 regions, including Korea, the United States, Canada, Australia and Japan.