| Park Hyeon-joo | |
|---|---|
 Park in 2015 | |
| Born | (1958-10-17) October 17, 1958 (age 66) Gwangju, South Korea |
| Alma mater | Korea University (BA, 1983) |
| Occupation | Businessman |
| Employer | Mirae Asset Financial Group |
| Children | 3 |
Park Hyeon-joo (Korean: 박현주; born October 17, 1958) is a South Korean businessman. He is the founder of Mirae Asset Financial Group and a venture capitalist. Called the "father of South Korea's mutual fund industry", he established the first mutual fund in the country in 1998.
He is among the richest people in South Korea. In December 2024, Forbes estimated his net worth as US$1.1 billion and ranked him 31st richest in the country.
Biography
Park was born on October 17, 1958 in Gwangju, South Korea. In 1977, he graduated from Gwangju Jeil High School. In 1983, he graduated from Korea University with a bachelor's in business administration.
In 1986, he joined Dongyang Securities (동양증권; now part of Yuanta Securities). In 1991, he became branch manager of Dongwon Securities (동원증권; now part of Korea Investment & Securities [ko]). In 1996, he was made director of the Gangnam branch of Dongwon Securities.
On July 18, 1997, he cofounded Mirae Asset Investment Advisory and Mirae Asset Global Investments, along with eight colleagues from the securities industry. The company was the first professional asset management company in Korean history. In December 1998, he established the first mutual fund in the country, which was called "Park Hyeon-joo No. 1" (박현주1호). The mutual fund quickly proved to be extremely popular, and sold out within hours of its launch. In 2001, he became the chairman of Mirae Asset Group. The company began expanding internationally beginning in 2004.
In 2009, Harvard Business School created a case study on Park and his experience at Mirae Asset. Beginning in 2010, he began donating all his received dividends to talent development and social welfare programs through his foundation, the Mirae Asset Park Hyeon Joo Foundation.
In 2020, a subcompany of Mirae Asset, the vast majority of which was held by Park and his family (91.86%), was fined for unfair transactions that benefitted the owners of the company. Park did not receive any criminal charges for this, as Park did not order the transaction.
Personal life
He is married to Kim Mi-gyeong (김미경). The couple have children Park Ha-min (박하민), Park Eun-min (박은민), and Park Jun-beom (박준범). Their three children have each studied in the United States.
Awards
- Korea Management Award (한국의 경영자상) (2008)
- Dasan Financial Grand Prize [ko] (2017)
- International Executive of the Year Award, Academy of International Business (2024)
References
- ^ 박, 혜린 (2024-07-19). "[Who Is ?] 박현주 미래에셋그룹 회장". 비즈니스포스트 (in Korean). Retrieved 2024-12-26.
- ^ "Park Hyeon-joo". Forbes. Retrieved 2024-12-26.
- Choe, Man-Su (2024-07-03). "AI to drive Mirae Asset's next-phase growth: chairman". The Korea Economic Daily. Retrieved 2024-12-26.
- ^ "Mirae Asset boasts global presence after 20 years of pioneering business". The Korea Times. 2024-06-26. Retrieved 2024-12-26.
- ^ "For Asset Manager, a Future Beyond Korea". Wall Street Journal. 2007-10-01. ISSN 0099-9660. Retrieved 2024-12-26.
- ^ "Investing with an eye for the future". Korea JoongAng Daily. 2009-10-11. Retrieved 2024-12-26.
- "Harvard Business School to Study Mirae Asset Group". The Korea Times. 2009-12-09. Retrieved 2024-12-26.
- "Mirae Asset's Park Hyeon-joo donates dividends for 13th consecutive year". Pulse (in Korean). Maeil Business Newspaper. Retrieved 2024-12-26.
- "Mirae Asset chairman named 'Executive of the Year'". The Korea Times. 2023-12-19. Retrieved 2024-12-26.
- "Mirae Asset hit with big fine for antitrust violations". Korea JoongAng Daily. 2020-05-27. Retrieved 2024-12-26.
- "Mirae Asset to enter U.S., top exec says". Korea JoongAng Daily. 2010-04-26. Retrieved 2024-12-26.
- "Mirae Asset moves to leap toward global top tier on recognition of leadership". The Korea Times. 2024-07-23. Retrieved 2024-12-26.