Mirae Asset Daewoo Reappoints Choi Hyun-man as Senior Vice Chairman at Regular General Meeting

Choi Hyun-man, Senior Vice Chairman of Mirae Asset Daewoo, speaking at the 51st Annual General Meeting of Shareholders of Mirae Asset Daewoo

[Asia Economy Reporter Song Hwajeong] On the 25th, Mirae Asset Daewoo held its regular shareholders' meeting at the Euljiro Center One Building, confirming the appointment of outside directors and the approval of financial statements including dividends.

At this regular shareholders' meeting, Senior Vice Chairman Choi Hyun-man, Vice Chairman Jo Woong-gi, and President Kim Sang-tae were reappointed, and Jo Yoon-je (Sogang University professor), Lee Jemma (Kyung Hee University professor), and Kim Sung-gon (Director of Hyojong Research Institute) were newly appointed as outside directors. Existing outside directors Jo Sung-il and Jung Yong-seon were reappointed.

Additionally, Mirae Asset Daewoo approved the financial statements for the 2019 fiscal year and decided to pay a total dividend of 182.1 billion KRW (dividend payout ratio of 27.4%), including 260 KRW per common share and 286 KRW per preferred share. Since its launch, Mirae Asset Daewoo has continuously increased the total dividend amount, paying 124.7 billion KRW in 2017, 153.9 billion KRW in 2018, and 182.1 billion KRW in 2019, implementing a shareholder-friendly dividend policy.

Choi Hyun-man, Senior Vice Chairman of Mirae Asset Daewoo, stated, “During these difficult times due to COVID-19, we will actively pursue shareholder return policies to grow together with shareholders based on customer alliances. We have pursued growth and stability through differentiated capital strength, diversification of revenue structure, conservative risk management, and transparent management, and we will do our best to respond well to the current situation and gain greater recognition from customers and investors.”

The new board of directors consists of 5 outside directors out of a total of 8 members, increasing the proportion of outside directors from the previous 57.1% to 62.5%. This increase in the proportion of outside directors aims to secure the expertise and diversity of board members and enhance management transparency and shareholder value by increasing the proportion of external experts.

Jung Yong-seon was appointed as an audit committee member, and outside directors Jo Sung-il and Jo Yoon-je were appointed as audit committee members.

The newly appointed outside director candidate Jo Yoon-je is a global and economic expert who has served as an economic analyst at the World Bank and International Monetary Fund, as well as ambassador to the United Kingdom and the United States. Candidate Lee Jemma holds a Ph.D. in finance and is currently a professor at Kyung Hee University’s International College, specializing in finance and accounting. Candidate Kim Sung-gon holds a Ph.D. in organic chemistry with extensive experience in new drug development and is currently the director of Hyojong Research Institute, the new drug research institute of Chong Kun Dang. Along with existing outside directors Jo Sung-il and Jung Yong-seon, they are expected to contribute not only to the expertise and diversity of the board but also to strengthening the company’s business capabilities and transparent management.

This content was produced with the assistance of AI translation services.