Top 10 asset managers donated combined 5.6 billion won last year

Mirae Asset gave 2.37 billion won; Aegis Asset Management gave 1.07 billion won

A view of the Yeouido financial district. [Herald DB]
A view of the Yeouido financial district. [Herald DB]

Mirae Asset Global Investments donated the most money among asset management firms last year, while Aegis Asset Management ranked first in charitable giving as a share of net profit.

According to financial investment industry data and individual companies' business reports, the combined donations of the top 10 asset managers by net profit totaled approximately 5.6 billion won ($3.66 million) last year. Donations are defined as funds provided to public-interest foundations or charitable organizations without any profit-generating purpose.

Mirae Asset Global Investments led all firms, donating approximately 2.37 billion won last year. It was followed by Aegis Asset Management (1.07 billion won), Hanwha Asset Management (700 million won), KB Asset Management (590 million won) and Shinhan Asset Management (397 million won).

Mirae Asset has focused its social contributions on nurturing the next generation. Its "Our Children's Economic Education" program, run through the Park Hyeon-joo Foundation, has drawn a cumulative 300,000 participants since launching in 2010. The "Global Leader Grand March" program, which began in 2006, has involved 13,784 young people to date. The company also runs coding and AI education programs.

Aegis Asset Management posted the highest donation-to-net-profit ratio at 1.44 percent, followed by Hanwha Asset Management at 1.41 percent. Mirae Asset's ratio was limited to 0.33 percent.

Aegis, a real estate-focused asset manager, has incorporated its industry expertise into its social contribution activities. The firm is working with the Seoul Metropolitan Government to remodel 18 units of "Dream Sharing House," a residential facility for youth aging out of the foster care system. As part of its ESG management efforts, Aegis also sponsors seed conservation projects at the National Baekdudaegan Arboretum.

Korea Investment Value Asset Management posted net profit of 204.7 billion won last year but donated only 336,000 won. DS Asset Management similarly recorded net profit of 62.9 billion won while donating just 3 million won. Samsung Asset Management (0.18 percent), VIP Asset Management (0.14 percent) and Korea Investment Trust Management (0.12 percent) also ranked among firms with low donation-to-net-profit ratios.

"As asset managers handle funds entrusted by investors, demands for social responsibility are growing," an official from the financial investment industry said. "As ESG management becomes a standard by which investors evaluate firms, efforts to expand charitable giving and social contribution activities will increase."


moon@heraldcorp.com