Mirae Asset Financial Group chairman Park Hyeon-joo will donate his entire stock dividends this year to a scholarship fund, keeping up a tradition he started in 2010.
Park is set to earn W1.5 billion in stock dividends this year (US$1=W1,076).
In a memo to staff in 2008, Park pledged to donate his entire dividends starting in 2010 to provide scholarships to students. Since then he has donated a total of W15.2 billion of his dividends to the Mirae Asset Park Hyeon-joo Foundation.
In 2000, Park donated W7.5 billion of his personal fortune to create the foundation. Over the next 15 years, the foundation has provided scholarships to 5,275 students from both Korea and abroad.