Mirae Asset Financial Group Chairman Park Hyun-joo has donated all of the 2016 dividends (worth 1.6 billion won) that he received from Mirae Asset Global Investments to the Mirae Asset Park Hyeon Joo Foundation, a foundation he established in 2000.
Park’s 1.6 billion won donation will be spent for scholarships and social welfare projects run by the foundation, the company said.
Park is the largest shareholder with a 60.19 percent stake in Mirae Asset Global Investments. Since the chairman declared that he would spend all of his dividends on young people, he has been donating his dividend income from Mirae Asset Global Investments for 7 straight years. In 2011, he began his philanthropic journey by
donating all of his 2010 dividends of 6.19 billion won.
Park's cumulative donation reaches 20 billion won this year. Park set up the foundation in 2000 with his personal capital of 7.5 billion won in order to practive "considerate capitalism." The foundation has financially supported more than 4,000 students to study abroad and 2,500 students to study here in S. Korea.