Park Hyeon-Joo – Billionaire

Park Hyeon-Joo, the father of Korea’s mutual fund industry, realized that small investors hungered for easier access to the market. So he quit his job as a branch manager at a brokerage firm and, amidst the rubble of the Asian financial crisis, founded Mirae Asset Investment Advisory and a venture capital affiliate in 1997. He launched Korea’s first closed-end mutual fund the following year, along with an asset management company. Now operating in 12 countries, the firm has approximately $90 billion in assets under management. Specializing in Asian and emerging markets, Mirae has found a sweet spot with low-cost exchange-traded funds. In 2010, the Harvard Business School — intrigued at how Mirae was able to outmaneuver conglomerates that had long dominated the investment business in Korea — selected Mirae for a case study for its M.B.A. program. Park, meanwhile, has been promoting and funding a variety of charitable endeavors. The Mirae Asset Park Hyeon Joo Foundation provides scholarships to academically promising students from disadvantaged families.

Source:

1. forbes