Mirae Asset Securities Confirms Name Change... Vice Chairman Choi Hyun-man Reappointed

Choi Hyun-man Senior Vice Chairman Successfully Reappointed CEO for 5 Consecutive Years
Kim Jae-sik Appointed as New CEO

[Asia Economy Reporter Song Hwajeong] Mirae Asset Securities announced on the 24th that it held its regular shareholders' meeting and board of directors meeting, confirming the appointment of inside and outside directors, approval of financial statements including a name change, and dividends.

At the regular shareholders' meeting held at the Euljiro Center One Building (headquarters) on the same day, Senior Vice Chairman Choi Hyun-man was reappointed as an inside director, and Presidents Lee Man-yeol and Kim Jae-sik were newly appointed. Existing outside directors Cho Sung-il and Jung Yong-sun were reappointed.

Senior Vice Chairman Choi Hyun-man, who succeeded in being reappointed as CEO for five consecutive years, will oversee all aspects related to management, while CEO Kim Jae-sik was newly appointed based on his expertise and experience in asset management.

Additionally, Mirae Asset Securities approved the financial statements for the 2020 fiscal year and decided to pay dividends of 200 KRW per common share and 220 KRW per preferred share.

Since its launch, Mirae Asset Securities has continuously increased its 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. Last year, it also expanded its share repurchase and cancellation program, actively pursuing shareholder return policies.

The total of this dividend payment and last year's total share cancellation amount is approximately 280.5 billion KRW, which corresponds to about 34.1% of net income (on a consolidated controlling shareholder basis) used for shareholder return policies.

Senior Vice Chairman Choi Hyun-man of Mirae Asset Securities said, “During these difficult times due to COVID-19, we will actively pursue shareholder return policies to grow together with shareholders based on the spirit of customer alliance.” He added, “We have pursued both growth and stability through thorough risk management, diversification of revenue structure, and transparent management.” He further stated, “With the new company name, we will do our best to be more recognized by customers and investors.”

Outside director Jung Yong-sun was reappointed as an audit committee member, and outside directors Cho Sung-il and Lee Jem-ma were reappointed as audit committee members.

At this shareholders' meeting, the proposal to change the company name to Mirae Asset Securities in line with the group's global brand strategy was also passed. With this name change, the company plans to recognize its social responsibility as an investment specialist group and further strengthen financial consumer protection.

Through this board meeting, the establishment of an ESG (Environmental, Social, and Governance) Committee was also approved. To ensure sustainable corporate management, the highest decision-making body will review and resolve ESG-related agendas and establish a system to transparently disclose them externally, fulfilling the company's social responsibility.

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