Harvard chooses Mirae Asset and Chairman Hyeon-Joo Park for a case study in its MBA class
January 6, 2010
Mirae Asset Global Investments Group ("Mirae Asset" or "The Group"), one of the largest asset managers in emerging market equities1, is pleased to announce that the prestigious Harvard Business School has chosen the Group and its founder, Chairman Hyeon-Joo PARK, for a case study in its MBA class.
Mirae Asset is the first Asian asset management company introduced in that class. The Harvard MBA will write up a case study covering topics such as Mirae Asset's global growth story and the entrepreneurship of Chairman Hyeon-Joo PARK, which will be examined by the MBA students starting April 2010. The class, called "International Entrepreneurship", will be led by Professor Mukti Khaire.
Dr Peter Tuck Chung LEE, Chief Executive Officer at Mirae Asset Global Investments (Hong Kong) Limited, says: "We are extremely honored that Harvard has chosen us for the case study. This shows that Mirae Asset's achievements, particularly its management and investment philosophy, have gained global recognition."
Mirae Asset is the largest asset management company in Korea, accounting for over a third of the domestic equity fund market2. Since it introduced the very first mutual fund to Korean retail investors in 1998, the Group has been playing a pivotal role in the growth of the fund management industry in the country and has launched a wide range of funds to meet the various needs of clients. Since then, Mirae Asset has grown considerably with offices now in Hong Kong, Brazil, China, India, Korea, United Kingdom, USA, and Vietnam. It is focused on the Asia Pacific region and is one of the largest asset managers in emerging market equities1.
The Harvard MBA class will study how Chairman Park established his company, his management philosophy and global expansion strategy. In particular, it will look at his efforts in helping the Korean mutual fund market to develop after the International Monetary Fund (IMF) crisis back in the late 1990s. It will also focus on Mirae Asset's successful global expansion from within the Korean asset management industry.
Harvard is known for its case-based classes, which study global blue chip companies, including GE, Procter & Gamble and Apple. Among Korea companies that have been discussed in the class are Samsung Electronics for its management strategy and Shinhan Bank of Korea, for its mergers and acquisitions. The case studies focus on 14 aspects of these companies' businesses, including finance, strategy and marketing.
Mirae Asset was selected for the case study last September. Shortly afterwards, Chairman Park had a meeting with the business school in the U.S. and this was followed by a visit from Harvard researchers to Mirae Asset's headquarters in Seoul, where they had face-to-face interviews with top executives and renowned people in the fund industry.
Dr Lee adds: "We are extremely commendable of Chairman Park and his leadership as this is the first time a Korean entrepreneur in the financial industry has been chosen as a case study for the class. As we have done in the past, Mirae Asset is committed to contributing to the further development of the financial industry."
- ENDS -
About Mirae Asset
Mirae Asset Global Investments (Hong Kong) Limited is part of the Mirae Asset Global Investments Group and is licensed with and regulated by the Securities and Futures Commission.
In less than a decade the Mirae Asset Global Investments Group has become one of Asia's largest asset management groups3. Globally, the diversified businesses of the Group's asset management arms recorded USD57 billion4 of assets under management as of November 2009.
The Mirae Asset Global Investments Group has investment management operations in Hong Kong, Brazil, China, India, Korea, United Kingdom, USA, and Vietnam. The Mirae Asset Global Investments Group team includes more than 150 investment professionals dedicated to asset management in Asia and other emerging markets.
Further information can be found at http://investments.miraeasset.com.hk
1 One of the largest invested assets in emerging market equities amongst 51 asset management firms surveyed - Investing in Emerging Market Equities Survey, Investment & Pensions Europe (IPE), July/August 2009
2 AMAK (Asset Management Association of Korea) as of Oct. 31, 2009
3 Top Retail Manager in Asia ex-Japan and Australia - Fund Manager Survey, Asia Asset Management, Sept. 2008
4 Mirae Asset Global Investments Group, Nov. 30, 2009
Certain information contained in this document is compiled from third party sources. Whilst Mirae Asset Global Investments (Hong Kong) Limited ("Mirae Asset HK") has, to the best of its endeavor, ensured that such information is accurate, complete and up-to-date, and has taken care in accurately reproducing the information, it shall have no responsibility or liability whatsoever for the accuracy of such information or any use or reliance thereof.
Mirae Asset HK accepts no liability for any loss or damage of any kind resulting out of the unauthorized use of this document.
This document is strictly for information purposes only and does not constitute a representation that any investment strategy is suitable or appropriate for an investor's individual circumstances. Further, this document should not be regarded by investors as a substitute for independent professional advice or the exercise of their own judgement.
References to particular sectors, securities or companies are for general information & illustration purposes only and are not recommendations to buy or sell a security, or an indication of the author's holdings at any one time.
The provision of this document shall not be deemed as constituting acceptance, or promise of any further contract or amendment to any contract which may exists between the parties. It should not be distributed to any other party except with the written consent of Mirae Asset HK. Nothing herein contained shall be construed as granting the recipient whether directly or indirectly or by implication, any license or right, under any copy right or intellectual property rights to use the information herein.
This document is issued by Mirae Asset Global Investments (Hong Kong) Limited and has not been reviewed by the Securities and Futures Commission.