"Employees Ask About This Year's Incentives"...Hyunju Park and Suyeon Choi Learn Through Communication (Comprehensive)

Suyeon Choi and Hyunju Park Share Insights on Fairness, Communication, and Future Value at "Godsaenghanki"
Leaders Emphasize Transparent Incentives, Employee Engagement, and Building Strong Foundations
Youth Participants Present Talent Donation Plans; Future Leaders Camp Announced for Next Month

"Employees often ask, 'I understand the company's direction, but how much will the incentive be this year?' I get the sense that they are curious about how their contributions are reflected as tangible value, that they want to be involved, and that they expect the company to be fair." - Suyeon Choi, CEO of Naver

On December 11, Hyunju Park, Chairman of Mirae Asset Group, and CEO Choi attended the second session of the "Godsaenghanki" event organized by the Korea Economic Association at Mirae Asset Center One in Jung-gu, Seoul, where they engaged in a conversation about management with 20 young participants. "Godsaenghanki" is a national communication project announced by the Korea Economic Association in February as part of its mid- to long-term development plan, the "New Way Initiative." The term "Godsaeng" is a portmanteau of "God" and "life," referring to a model and diligent way of living.

Hyunju Park, Chairman of Mirae Asset Group, attended the second session of the Hankyung Association's "Godsaenghanki (Korean version of Lunch with Buffett)" held on the 11th at Mirae Asset Center One in Jung-gu, Seoul, where she had a meal and conversation with young people.
[Photo by Hankyung Association]

The two leaders were asked how they typically communicate with employees and how such communication influences management direction. They noted that, recently, more employees have been asking about performance and compensation systems, so these topics have become a focal point in their communication. Chairman Park stated, "I have no intention of infringing on the personal privacy of financial company employees," but added, "If there are issues with Mirae Asset employees in the area of client (asset management), we manage them very strictly and without exception."

Naver CEO Suyeon Choi is seen having a discussion at the Korea Economic Association's 'Godsaenghanki' Part 2 event on the 11th.
[Photo by Korea Economic Association]

They also said that, despite high uncertainty, they deeply consider "future value" when identifying high-value challenges. CEO Choi cited two M&A cases during her tenure, including the acquisition of Poshmark, the largest C2C fashion community in North America. She explained, "When deciding on an M&A, I saw the role of CEO as one that prepares for five years ahead, rather than just focusing on this year's financial statements. I thought about whether this sector was right, whether the U.S. was the right market. If I hadn't made a decision at that time or had made a shortsighted one, I worried that the company might gradually fail."

When asked about the new slang term "Jungkkeokgeuma" (meaning 'what matters is to keep going even if you falter'), she said that having the courage to give up is also important. Chairman Park stated, "You need both the courage to choose and the courage to give up, and you must be able to see the big picture before making a choice. Realistically, you should pursue hobbies for fun, but also do work that you enjoy and can excel at in society." She added, "When you are young, you need to have the passion to build a 'foundation.' Someone who dreams of the impossible without any foundation is merely chasing illusions."

Hyunju Park, Chairwoman of Mirae Asset Group (sixth from the left in the front row), and Suyeon Choi, CEO of Naver (seventh), attended the second episode of Hankyung Association's 'Godsaenghanki' on the 11th and took a commemorative photo with young people.
[Photo by Hankyung Association]

Before the Godsaenghanki 2 event, the Korea Economic Association collected talent donation plans from applicants. Among the 20 young participants, one office worker pledged to donate Mirae Asset preferred shares to a local welfare center. The CEO of a protein shake startup promised to provide meal-replacement protein shakes to seniors. The average age of the participants was 27. There were 13 men and 7 women.

The Korea Economic Association announced that it plans to continue holding Godsaenghanki events next year. It also plans to expand youth engagement activities, such as the "Future Leaders Camp (Furicam)," a free three-day, two-night event for 200 young people to be held in Gangneung, Gangwon Province, from January 14 to 16, and the association's youth advisory group. At next month's Furicam, Hyun Jin Seo, Chairman of Celltrion; author Gilyoung Song; Jongyoon Kim, CEO of Yanolja Cloud; Minwoo Nam, Chairman of the Korea Entrepreneurship Foundation; and members of the YouTube channel "Psick University" (Yongju Lee, Jaehyung Jung, and Minsu Kim), which has 2.68 million subscribers, will attend and interact with young people.