Mirae Asset Park Hyeon Joo Foundation

Mirae Asset Park Hyeon Joo Foundation is a private foundation based in Mirae Asset Center 1 Building, Seoul, South Korea.[1][2] The foundation was founded by Hyeon Joo Park, a founder and GISO of Mirae Asset Financial Group, in 2000 with his own wealth of KRW 7.5 billion which was three years after the foundation of Mirae Asset Financial Group when the company’s equity capital stood at KRW 30 billion.[3] One of Park Hyeon Joo's primary social responsibility is giving more and better educational opportunities to talented students as one of a way to return the earned profits from the business activities to the society. Therefore, the primary purpose of the foundation is aiding scholarship for exchange program to college students located in South Korea.[4] Furthermore, Park Hyeon Joo has been donating all his dividends paid out from his shares held in affiliates to the foundation every year to fulfill the practice of warm capitalism.

Mirae Asset Park Hyeon Joo Foundation
MottoMirae Asset will serve as a hope for the youth
FormationMarch 28th, 2000
FounderPark Hyeon Joo
PurposeScholarship programs, social welfare, culture of sharing
HeadquartersSeoul, South Korea
President
Chung Un Chan
Composed of 7 directors and 2 auditors
Websitefoundation.miraeasset.com

History
  • In 2000, Mirae Asset Park Hyeon Joo Foundation (the 1st president: Byeon Hyeong Yoon) was established, Domestic Scholarship Program was initiated.[5]
  • In 2003, started to donate books to study rooms
  • In 2006, Global Investment Expert Scholarship Program was initiated
  • In 2007, Global Exchange Scholarship Program was initiated, and Global Cultural Experience Program was commenced[6]
  • In 2008, commenced a book donation program for regional children centers called ‘Hope of Book Café’
  • In 2011, renovated the study rooms and commenced ‘Youth for Hope’ project
  • In 2012, the 2nd president, Lee Gi Su, was appointed.[5] Mirae Asset matching grant plan was launched.
  • In 2013, commenced book donation called ‘Full of Hope’
  • In 2014, appointed as a ‘sound non-profit organization, and commenced ‘Financial Career Training Program for Youth’
  • In 2015, cultural experience activity funds are delivered to regional children’s centers and group homes
  • In 2016, commenced workshop for readings and project called ‘Youth Vision Project’
  • In 2018, the 3rd president, Chung Un Chan, has been appointed.[5] Number of students who were beneficiary on Mirae Asset Scholarship Program reaches 8,000
  • In 2019, Number of students who were beneficiary on Mirae Asset Scholarship Program reaches 9,000

Major Programs

Under the vision that ‘Mirae Asset will serve as a hope for the youth’, Mirae Asset operates programs primarily aiming on a scholarships, social welfare and culture of sharing. Through scholarships and social welfare programs, the number of participants in nurturing talents has reached to 290,000 (as of September 2019).

Global Exchange Scholarship Program[7][6][8]

As being the largest overseas exchange student scholarship program in Korea, the foundation supports 650 students annually with their academic expenses. Undergraduate students who have met the criteria of the foundation’s assessments in grades and their financial status of their 4-year university courses are selected as the exchange students, which have accumulated to 5,467 students.

Global Cultural Experience Program[9]

The foundation has been supporting children and youth on 3 nights and 4 days camping excursions to China in order to broaden their knowledge and perspective to ultimately set up their lifetime goal. This program supports students to experience various cultures with different nationalities through traveling.[7] The global cultural exchange program includes experiencing daily local life, understanding their history and visiting information technology sites. The program is provided biannually to 100 participants at a time reaching 1,839.

Book Donation “Books with Hope”[10]

The foundation supports book donations to students in order for them to build the sound values and be motivated in the habit of reading Twelve books are donated per student per year considering of each student’s living conditions, interests and the level of reading, To-the-date, a total of 93,996 books have been donated to 11,056 beneficiaries.

Youth Vision Project

The foundation offers ‘Make Experience Program’ to facilitate young teenagers to enhance their flexible and creative thinking skill in this disruptive era. The curriculum supports each participant to engage in the entire process of problem solving from planning, designing, producing to implementing by utilizing coding, 3D printing, and robotic technologies based on ‘Design Thinking’ process which is a creative problem solving methodology.

Culture of Sharing

The foundation supports various programs through interactive collaboration with Mirae Asset subsidiaries, and its executives and employees. They may take part in donations through diverse ways. In turn, each subsidiary contributes the matching amount of the donations made by its executives and employees to the foundation to support the program.

  • Mirae Asset 1% Hope Sharing Campaign: Executives of Mirae Asset donate 1% of their monthly salary[11]
  • Periodical Donation 'I Love You' Campaign: Employees of Mirae Asset participate in one-time donations to commemorate special occasions in addition to periodic donations[12]
  • Matching Grant Campaign of subsidiaries: 1:1 Matching Grant Campaign where the company donates the matching amount of donations made by executive or employees of a subsidiaries[13]
  • Entire Dividend Donation by Park Hyeon Joo (Founder and Mirae Asset GISO): Park Hyeon Joo established the foundation with his own wealth worth of KRW 7.5 billion in 2000. He has been donating the entire dividends to the foundation for the young talents of Korea since 2010.[14]

Awards
  • In 2009, Mayor of Seoul Award, Children and Welfare Sector.
  • In 2016, the 11th Kyunghyang Finance Education, Chief of Financial Services Commission Award.[15]
  • In 2018, Minister of Health and Welfare Award, Regional Children’s Center Support Sector.[16]
  • In 2019, the 10th KCCI (Korea Chamber of Commerce and Industry) Forbes CSR Award, Children and Youth Welfare Sector.[17]

Reception

The foundation received a perfect score in transparency and financial stability evaluation for non-profit foundations according to Guide Star Korea. (Based on its performance at the end of 2016 and 2017)[18]

References
  1. "Mirae Asset Park Hyeon Joo Foundation Company Profile | D&B Hoovers". www.hoovers.com. Retrieved 2019-05-20.
  2. 한국가이드스타. "한국가이드스타". www.guidestar.or.kr. Retrieved 2019-05-20.
  3. "Hyeon Joo Park - Wealth-X Dossier". Wealth-X. Retrieved 2019-05-20.
  4. "Scholarship for Exchange Program: Mirae Asset Park Hyeon Joo Foundation". EducationUSA. 2018-01-18. Retrieved 2019-05-20.
  5. "[한국의 공익재단]정권 코드 따라가는 이사회 구성". www.thebell.co.kr (in Korean). Retrieved 2019-05-20.
  6. Unknown (2017-04-06). "The Korea Financial News: Mirae Asset Park Hyeon Joo Foundation, a group of 20 foreign exchange Scholarship". The Korea Financial News. Retrieved 2019-05-20.
  7. Herald, The Korea (2016-12-27). "Mirae Asset scholarship program supports over 150,000 students". www.koreaherald.com. Retrieved 2019-05-20.
  8. "장학생 육성하려 9년간 '총 232억원' 기부한 박현주 미래에셋 회장의 진심". 인사이트 (in Korean). Retrieved 2019-05-20.
  9. "Park Hyeon Joo Foundation of Mirae Asset Starts Global Talent Training Program". 비즈니스코리아 - BusinessKorea (in Korean). 2015-01-09. Retrieved 2019-05-20.
  10. "미래에셋박현주재단, 희망듬뿍 독서 교육 워크숍". www.newstomato.com. Retrieved 2019-05-20.
  11. "미래에셋대우, 실적감소에도 기부 '큰 손'...박현주 회장 '경영철학' 영향". www.ceoscoredaily.com (in Korean). Retrieved 2019-05-20.
  12. "미래에셋 박현주 회장, "사회환원 위해 미래 인재에 투자"". 베이비타임즈 (in Korean). 2018-10-17. Retrieved 2019-05-20.
  13. "[라미의 재벌만사]미래에셋, '배려있는 자본주의' 인재육성부터 시작". 파이낸셜투데이 (in Korean). 2018-11-23. Retrieved 2019-05-20.
  14. "Mirae Asset founder donates dividends for nine years". koreatimes. 2019-04-04. Retrieved 2019-05-20.
  15. 수정: 2016.12.15 23:47, 입력: 2016 12 15 19:05 (2016-12-15). "경향금융교육대상 미래에셋박현주재단·박종건씨 등 수상". biz.khan.co.kr (in Korean). Retrieved 2019-05-20.
  16. "미래에셋박현주재단, 보건복지부 장관 표창 수상". hankyung.com (in Korean). 2019-01-09. Retrieved 2019-05-20.
  17. "[2019 대한상공회의소·포브스 사회공헌대상] 미래에셋박현주재단". 중앙시사매거진. 2019-03-23. Retrieved 2019-05-20.
  18. "박현주 미래에셋금융그룹 회장의 네트워크". 미디어SR (in Korean). 2019-05-03. Retrieved 2019-05-20.
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