Mirae Asset chief ’s donated dividend earnings to reach $23.4 mil.
Mirae Asset Group Chairman Park Hyeon-joo will donate 1.6 billion won ($1.1 million) in dividends earned in 2023 from its affiliate Mirae Asset Global Investments, according to the group, Sunday. It raises the total of amount of dividends donated by the chairman to 31.5 billion.
Park started donating dividend earnings from Mirae Asset in 2010 and has continued contributions every year since.
The charitable efforts were outlined in 2008 in a letter he wrote to firm employees. “I will use the entire dividend income for the young in this country,” he said.
The amount will be used to foster young people in a program mediated by the Mirae Asset Hope Foundation, established in 1998 by the chairman to honor the wishes of his parents.
The foundation organizes a variety of social contribution projects, including scholarships for local college students.
The donation will start an exemplary tradition for local business and finance leaders, the group said, in line with a global wave of similar initiatives.
Many other global entities, including the Bill & Melinda Gates Foundation, are reorienting their profits to advance public interests through increasing grants for research in science, technology and medicine.
Park has especially been interested in the development of science and technology — which has been the key to Korea’s economic development — as well as nurturing young people.
The group said the years of the chairman’s social contribution efforts is an expression of his previous commitment to donating 25 percent of
Mirae Asset Consulting shares to the foundation to nurture promising young Koreans.
His family members, in honor of his commitment, donated 4.99 percent of Mirae Asset Consulting shares to the foundation.
“Mirae Asset, a financial entity that puts into practice ‘warm’ capitalism, is leading a variety of social contribution campaigns, underpinned by close communications and cooperation among group affiliates,” a Mirae Asset official said.
“We will continue to make efforts to share what we have earned from customers and society, thereby contributing to the spread of the culture of sharing.”