Choi Hyun-man Promoted to Chairman of Mirae Asset Securities... First Professional Manager Chairman in the Financial Investment Industry

Bold Performance-Based Personnel Reshuffle... Establishing Subsidiary Professional Management System
Leading Group Growth for 25 Years, Including Integration with Daewoo Securities

[Asia Economy Reporter Song Hwajeong] Mirae Asset Securities has become the first in the financial investment industry to usher in an era of professional CEO chairpersons.

According to Mirae Asset Securities on the 7th, the board of directors approved the proposal to promote Choi Hyun-man, Senior Vice Chairman, to Chairman at the meeting held the previous day. This is the first time in the domestic financial investment industry that a professional CEO has been promoted to chairman.

Newly appointed Chairman Choi Hyun-man of Mirae Asset Securities was recognized for his significant contributions over 25 years since joining as a founding member of Mirae Asset Group, helping develop the group into the top independent investment specialist group. Chairman Choi has driven the group's growth by serving as CEO of major Mirae Asset affiliates including securities, asset management, life insurance, and capital. Established in December 1999 with a capital of 50 billion KRW, Mirae Asset Securities has grown 200-fold in about 20 years, gaining global competitiveness and standing shoulder to shoulder with global investment banks (IBs) in the world capital markets beyond the Korean capital market. Since 2016, Chairman Choi has led the integration of Mirae Asset Securities and Daewoo Securities, achieving industry-first milestones such as 400 trillion KRW in customer deposited assets, 1 trillion KRW in operating profit for two consecutive years, and 10 trillion KRW in equity capital.

This promotion reflects Chairman Park Hyun-joo's intention to create a dynamic culture at Mirae Asset where professional CEOs lead the company. It also indicates the possibility of transitioning to a professional CEO chairman system not only at Mirae Asset Securities but also across Mirae Asset Group affiliates. Last month, Mirae Asset Group initiated a full-scale organizational restructuring to establish a professional CEO system and emphasized strengthening a performance-oriented, horizontal organizational culture through personnel appointments. For the first time in the industry, 15 branch managers were dramatically promoted through an open recruitment process, and considering record-breaking performance, 41 branch executives were promoted in the largest scale ever.

A Mirae Asset official stated, "Mirae Asset is strengthening independent management by establishing a professional CEO system for each affiliate," adding, "Through responsible management prioritizing customers and shareholder value, we will respond swiftly and flexibly to changes in the global business environment and compete with global IBs."

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