Mirae Asset chief to donate shares to charity

Mirae Asset Financial Group Chairman Park Hyeon-joo has decided to donate 25 percent of his stake in Mirae Asset Consulting to the group's charity foundation in phases, the company said Tuesday.

The stock will be gifted to the Mirae Asset Hope Foundation, a charitable entity established in 1998 to nurture and help the younger generation, from college students to children and teenagers, to gain a foothold in society via scholarships and improved education infrastructure.

“I hope this donation will be used for fostering future talents in science and technology sectors, the foundation of Korea’s economic development,” Park said during the donation event held in Seoul on Dec. 26.

The donation will be accepted as soon as the government eases regulations on nonprofit organizations holding onto stock, the company said.

According to Mirae Asset, this reflects the chairman’s promise to uphold a professionally run business, rather than a family-owned business. Park is also expected to donate his shares in Mirae Asset Capital and Mirae Asset Global Investments to the foundation, accelerating his social contribution efforts.