Mirae Asset Financial Group, a Korean financial company, has announced an overall executive change aimed at expanding its operations worldwide and reinforcing its financial strategy based on AI.
Knowing that it manages more than $695 billion in assets, the company claims that the move is an essential step in transforming its business model to the next generation of wealth management and digital innovation.
Changing leadership means a change of generation
Mirae Asset affirmed that Chung Ji-Kwang, who is the current head of the new growth investment division at Mirae Asset Capital, will become the Chief Executive Officer of the division. Chae Chang-Seon, who has been managing real estate development at Mirae Asset Consulting, will also ascend to the foundation of the company as a CEO. Moreover, Lee Tae-Sang, who was a risk manager at the Energy Infra Asset Management, has been promoted to head of his division as the CEO.
The three executives are all in their 1970s, which suggests that the company aimed to bring in younger executive leadership to usher in the next era of its growth. The present Mirae Asset Capital CEO, Lee Man-Hee, is likely to retire, and some of the founding members are also planning to leave the company. It marks the next phase of a leadership change that began in 2023, as founder Park Hyeon-Joo started to relinquish management positions.
Target AI, web3, and global competitiveness
During the reorganization, the Tech and AI division of Mirae Asset Securities will be transformed into a broader one that incorporates advanced technologies, including AI and Web3. The division will also focus on developing new business engines that serve emerging markets, such as cryptocurrency and blockchain finance.
The company also announced plans to increase its pension management units from three to four, in order to establish a more substantial presence in the rapidly expanding pension market. The relocation will strengthen the company’s operations to serve multinational corporations and government agencies, aligning with the enterprise’s global expansion agenda.
Mirae Asset will also establish a new investment banking unit to help attract capital and increase productivity, in line with South Korea’s desire for more active financial expansion. The broker is organizing specialized units to manage managed accounts and consumer protection in finance.
Industrializing to a digital future of financing
Although no leadership changes were announced within Mirae Asset Global Investments, the company said that the unit will proceed with making its products more competitive. It shall seek new investment opportunities and develop flagship products to provide investors with a diverse range of opportunities across various asset classes.
The company reaffirmed its goal of being the market leader in Web3-driven businesses, both domestically and internationally. For example, Mirae Asset plans to launch a Global Digital Wallet by June next year, which will combine both traditional and digital assets on a single platform.
Dedication to customer-centric growth
Mirae Asset emphasized that the change is not merely a structural shift but a strategic one. The company reiterated its philosophy of “Client First,” which guides all employees in providing wealth management services of the highest level. The group plans to integrate AI, digital finance, and global experience to ensure further growth and remain a leader in the evolving financial sector environment.
