Eastspring Asset Management Korea Confirms CEO Park Cheon-woong's Fourth Term
[Asia Economy Reporter Minji Lee] Eastspring Asset Management announced on the 12th that it confirmed the reappointment of current CEO Park Cheon-ung through the shareholders' meeting and board of directors held on the 8th. Accordingly, Park is expected to lead Eastspring Asset Management until 2024.
CEO Park Cheon-ung, who took office as the head of Eastspring Asset Management in October 2012, has succeeded in his fourth reappointment. Under Park's leadership, Eastspring Asset Management has recently shown solid business performance. In particular, in the first half of the year, it recorded operating revenue and operating profit of 13.2 billion KRW and 4 billion KRW respectively, continuing a strong upward trend for two consecutive years since 2019. Compared to the previous year, operating revenue increased by 18.3%, operating profit nearly doubled by about 97%, and net profit surged from 1.6 billion KRW to 3.4 billion KRW.
This achievement is the result of a strategy focused on targeting niche markets with new products and investment discretionary mandates for institutions and corporations amid a sluggish fund market. As discretionary assets grew to 8.2 trillion KRW, Eastspring successfully completed its structural reform and was able to establish stable overall performance indicators.
CEO Park Cheon-ung stated, "Despite various difficult and uncertain environments, I believe Eastspring Asset Management continues to achieve stable results thanks to all our employees fulfilling their roles. As in the past 10 years, we will continue to strive to become a trusted comprehensive asset management company and a model company that plays a good role in the market."
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Meanwhile, Park has concurrently served as the president of the CFA (Chartered Financial Analyst) Korea Association since 2018 and was reappointed in 2020. As CFA Association president, he is also dedicated to nurturing domestic investment professionals and expanding financial literacy and investment education among the general public.
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