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Mirae Asset Daewoo chairman takes on global role

South Korea's Mirae Asset Daewoo Co. Ltd. named Chairman Park Hyeon-joo to the newly created post of global chairman to focus on international operations, The Financial News reported March 26.

Park will continue to chair the Mirae Asset Daewoo board, the publication said, citing the company.

In July 2017, the report added, the financial institution invested 333.8 billion won into wholly owned Mirae Asset Securities (HK) Ltd, whose operations will lead its global business. The company also plans to inject a further 310.10 billion won into the Hong Kong unit, according to a Jan. 31 release.

Mirae Asset Daewoo has 11 overseas subsidiaries with a combined equity capital of 2.3 trillion won.

Within the next 10 years it plans to increase its international equity capital to 10 trillion won and boost its global assets to 100 trillion won, a company official said.

As of March 26, US$1 was equivalent to 1,078.46 South Korean won.