Mirae Asset Securities Chairman Choi Hyun-man has been reelected as an inside director of the securities company.
Mirae Asset Securities has decided to pay out 188 billion won in dividends this year, and plans to raise its dividend payout propensity to more than 30 percent.
Mirae Asset Securities held a regular shareholders’ meeting at Center 1 Building in Uljiro, Seoul, on March 24 and approved the reelection of Chairman Choi and President Lee Man-yeol as inside directors, and the appointment of Senior Executive Vice President Kang Seong-beom as a new director.
Seong Tae-yoon and Suk Joon-hee were appointed to be new outside directors and current outside directors – Chung Yong-sun and Lee Jaem-ma were retained.
Outside Director Chung Yong-sun was elected as chairman of the board of directors to ramp up the board’s independence.
Outside Director Chung Yong-sun was reelected as a member of the Auditing Committee. Outside Directors Seong Tae-yoon and Lee Jaem-ma have also joined the Auditing Committee.
Mirae Asset Securities plans to raise shareholders’ values by securing the expertise and diversity of the board of directors and ramping up management transparency.
Mirae Asset Securities approved the financial statement for the fiscal year 2021 and decided to pay out 300 won per common share and 300 won per preferred share.
Mirae Asset Securities has implemented shareholder-friendly policies, including repurchasing its own shares. Last August, Mirae Asset Securities declared a plan to maintain dividend propensity to more than 30 percent of net profit for the next three years.
Mirae Asset Securities has already surpassed more than 30 percent in dividend propensity by paying out 188 billion won in the latest round of dividends and buying back shares worth 362.2 billion won.
The value of treasury stocks purchased by Mirae Asset Securities since 2020 amounted to 563.7 billion won. Mirae Asset Securities plans to secure 10 million treasury stocks worth about 83.6 billion won.
Mirae Asset Securities Chairman Choi was reelected for the sixth consecutive year on the back of outstanding business performances.
Under his watch, the company topped 1 trillion won in operating profit for the second straight year, and is becoming the industry’s first company to log 1 trillion won in net profit.
Chairman Choi said, “Mirae Asset Securities will aggressively implement policies to return profits to shareholders so the securities company can grow together with shareholders based on customer alliance spirit.”
Mirae Asset Securities has pursed growth and stability by diversifying profit portfolios based on thorough risk management and transparent management and it will do its utmost to further be recognized by customers and investors down the road, he added.
Mirae Asset Securities Chmn. Choi Named ‘Financial Market Person of the Year’ by KRX
Mirae Asset Securities Chmn. Choi Hyun-man has been selected as the Financial Market Person of the Year by Korea Exchange (KRX).
Chairman Choi became the first person to receive the award from KRX. KRX inaugurated the award to present it to any individual who has contributed to the development of the Korean financial market and the spread of investment culture.
KRX said it created the award to raise concern over the financial market and expand investors’ base. A KRX official said, “Mirae Asset CEO and Chairman Choi has been recognized for his greatly contributing to injecting vigor into the Korean financial market and expanding investors’ base.”
Seven people were selected as candidates for the award. They included Mirae Asset Chmn. Choi, President Jung Il-moon of Korea Investment & Securities, and CEO John Lee of Meritz Asset Management.
“Chairman Choi heads a leading brokerage company that helped 21 firms go public this year, including game maker Krafton, in what was the biggest initial public offering in 2021,” KRX said.
The exchange credited its first awardee for becoming the first non-family member chief to oversee a major brokerage company, calling him a man with untapped potential at Korea’s largest brokerage firm.
As vice chairman, Choi, 60, successfully handled the 2016 merger with Daewoo Securities and had since attracted new clients, making the brokerage the first Korean firm to oversee 400 trillion won ($338 billion). He was tapped as chairman two weeks ago.
Choi, a founding member of Mirae Asset Securities when it was set up in 1999, previously served as CEO at key affiliates of Mirae Asset Financial Group, which along with brokerage, provides comprehensive financial services including asset management, investment banking and life insurance.
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