Mirae Asset Group Getting Younger with Generational Change

Performance-Based Promotion Personnel Selection

[Asia Economy Reporter Song Hwajeong] Mirae Asset Group has embarked on an active generational change. The organization has become younger through performance-based promotions.

According to Mirae Asset Group on the 4th, through personnel changes and organizational restructuring carried out the previous day, Choi Chang-hoon, CEO of Mirae Asset Global Investments, and Kim Eung-seok, CEO of Mirae Asset Venture Investment, were promoted to vice chairmen.

The newly appointed Vice Chairman Choi was born in 1969, graduated from Ohio University in the United States with a degree in Business Administration, earned a master's degree in Real Estate Finance from Cornell University Graduate School, and joined Mirae Asset MAPS Asset Management in 2005. He is the group's top real estate expert. He has served as head of the real estate division at Mirae Asset Global Investments and was newly appointed CEO of Mirae Asset Global Investments along with Executive Vice President Lee Byung-sung. The new Vice Chairman Kim Eung-seok was born in 1968, holds a master's degree in Electrical and Electronic Engineering from Yonsei University, and has been serving as CEO of Mirae Asset Venture Investment since 2002.

Along with the promotion of vice chairmen in their 50s, executives in their 40s were also notably promoted. Kim Yeon-chu, newly promoted to managing director and head of the derivatives division at Mirae Asset Securities, was born in 1981 and is 40 years old. Shin Dong-cheol, head of the overseas real estate division at Mirae Asset Global Investments, was born in 1978 and is 43 years old, and Kim Nam-gi, newly appointed managing director (head of the ETF management division) at Mirae Asset Global Investments, was born in 1977.

In the case of Mirae Asset Securities, through generational change by newly appointing heads of 13 out of 19 divisions, the average age of division heads has significantly decreased from 54 to 50 years old.

Mirae Asset Group plans to establish a clear performance-based reward system to promote outstanding talents who contribute to the company's development and to pursue continuous growth. A representative of Mirae Asset Group stated, "On the occasion of the 25th anniversary of the founding, we have reorganized the organization and selected young talents to strengthen a dynamic and horizontal organizational culture through active generational change, enabling quick and flexible responses to changes in the global business environment." He added, "We also focus on strengthening expertise to accelerate customer-centric management, which is the group's core value."

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