Educational Donations
Mirae Asset Financial Group Chairman Park Hyun-joo decided to donate all of the 2016 dividends worth 1.6 billion won that he received from Mirae Asset Global Investments at its shareholders meeting on March 30, the company said on April 3.
Chairman Park is the largest shareholder with a 60 percent stake in Mirae Asset Global Investments. The second largest shareholder of the asset management company is Mirae Asset Consulting, a consultancy and investment firm owned also by Park.
His dividends will be sent to his education foundation, which will use them to provide college scholarships and improve the social, the company said.
Park has donated the dividends since 2010 through the foundation with his personal capital of 7.5 billion won (US$6.7 million). This year marks its 7th anniversary. The donated dividends totaled about 20 billion won (US$18 million). It has supported 4,017 students to study abroad in more than 40 countries, including the advanced economies like the US and Germany as well as emerging economies like Mexico and Turkey, as part of Mirae Asset's social contributions to foster next-generation business leaders. So far, around 160,000 students have participated in its various education and cultural programs.
The foundation is looking to expand its role including assistances to improve the welfare of children of low-income families this year.