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Mirae Asset Sets Eyes on Pension Market

By Cho Jin-seo Staff Reporter Mirae Asset is a young and fast-growing company ― it was founded 10 years ago, and the eldest of its 78 executive managers is only 51 years old. The firm wants to keep its youthfulness and high spirit into the next 10 years as well, even though it is no longer a small venture company. True, the financial crisis did leave a dent in the phenomenal growth of the investment fund powerhouse as it did in the entire industry, and some were doubtful whether its growth model based on global asset management could remain effective in the post-crisis world. Mirae rebuts such criticism. ``After the financial crisis, there was skepticism on the financial firm's growth strategy based on investment banking. But Korea's capital market is clearly embracing the era of the `money move' from savings and deposits to investment vehicles,'' the firm's spokesman said in an e-mail interview. ``Unless bank interest rates go back to as high a level as before, the flow of money into the indirect investment market will be accelerated. Accordingly, the asset management ma

CEO Choi Reaches Top From Salesman

By Cho Jin-seo Staff Reporter Choi Hyun-man, CEO and vice chairman of Mirae Asset Securities, is the dream of financial workers in Yeouido. His career began in the industry in 1989 as a humble stock salesman. Eight years later, he became the inaugural CEO of Mirae Asset Global Investments. He was only 36. Now he is also the longest serving CEO of the securities industry ― he has led Mirae Asset securities for ten years through crisis after crisis and bubble after bubble. This shows how deep the trust the shareholders and employees have in him. Choi's leadership is based on self-discipline and desire to change. His personal motto in Korean can roughly be translated into ``sincere execution.'' There is no short-cut solution for sustainable growth, and it is only achievable when one sincerely fulfils his role, he says. Such humility comes from his humble background. Born in a rural village, he majored in politics in university, hoping to become a public servant with stable income. But he soon found out that his real talent did not match well with the bureaucrats' worl

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