Mirae boss takes no solace from big payoff

Mirae Group Chairman Park Hyeon-joo

Park Hyeon-joo, chairman of Mirae Asset Financial Group, topped the list of dividend recipients from non-listed companies, a conglomerate-specialized portal site said Wednesday. But he is not in Korea to enjoy it. Rather, he is in the United States to repair his reputation as he was once one of the most successful fund managers. 

According to chaebul.com, Park is expected to collect 16.3 billion won from Mirae Asset Management and Mirae Asset MAPS Global Investments for 2009. Park owns a 54.33 percent and 79.81 percent stake in the two companies, respectively. 

Park's dividends amount to 12.4 billion won and 4 billion won respectively as those firms decided to give dividends of 2,500 and 1,000 won per share to their shareholders. 

The founder of the Mirae Group may pocket even more, if other affiliates decide to pay dividends.

Park gained a reputation as a top fund manager when Mirae's funds hit the jackpot in the early 2000s. At that time his financial products marked more than 30 percent in gains.

But some of his products tanked during the subprime crisis, making a dent on his "win-win" myth and, according to some insiders, led Park to take a self-imposed exile to the United States.