[DECODED] Next in line at Mirae Asset?

Attention is now being drawn to who chairman Park Hyeon-joo, although just 58 and in the prime of his life, will groom as his successor at Mirae Asset Financial Group.

The founder, openly critical of the father-to-son transfers of control common in Korea’s large family-owned conglomerates, has said on multiple occasions that he will not pass down control of the group to his children. 

Local media paid keen attention, however, when Park Ha-min, Park’s eldest daughter, joined Mirae Asset Global Investments in 2013 to learn the ins and outs of real estate investment after working for consulting firm McKinsey & Company and real estate investment manager CBRE. Some even speculated that the senior Park was beginning to train his daughter to someday take over Mirae Asset.

Mirae Asset told The Korea Herald that she no longer works at the firm.

Park Ha-min and her younger sister Park Eun-min each own an 8.19 percent stake in Mirae Asset Consulting, the second-largest shareholder in Mirae Asset Capital and Mirae Asset Global Investments. Park Eun-min currently works at Boston Consulting Group in Seoul.

By Park Hyong-ki (hkp@heraldcorp.com)