Written by Student Ambassador Chaeun Lim (Bachelor’s Program, Matriculating Year of 2020)


Q: Congratulations on becoming the CEO of Mirae Asset Global Investments. Do you have any goals you would like to achieve during your tenure as CEO?
A: The goals of all asset management firms are the same in the broader context: generating stable returns. Our biggest goal is to secure steady rates of returns to ensure our clients’ lives after retirement. Under this goal, I have been elected as CEO in charge of traditional assets, such as stocks, bonds, hedge funds, and EFT. Our focus within the traditional assets is on ETFs, so our primary goal is to generate stable returns in this area to become the best in the field. As a long-term management goal, I am considering ways to apply AI to asset management. While there are businesses based on robo-advisors, I have recently been concerned with the question of how to use AI in asset management to maximize efficiency and transform our business model.
Q: You started your career in finance as a trader at Daewoo Securities, trading OTC derivatives. Was there a particular moment that inspired you to choose that path?
A: When I was job searching, there were a lot of career options for students who graduated from the SNU College of Business Administration. So, the salary and my interests influenced me to choose this career. You get to study various fields as a student studying business administration, including finance, marketing, and human resources management, but I found it easier to work with numbers than to read and write. This led me to be interested in finance, a field where your decision-making and actions appear in numbers, and based on my interests, I wanted to pursue a career in financial institutions. So, I joined a securities firm, and, in a way, I was fortunate. Because there were not many SNU graduates in securities firms, I had a chance to work at the head office, which led me to continue my career.

Q: You served as the CEO and CIO of international branches of Mirae Asset Global Investments. What do you think are the core competencies to become an expert in global investment?
A: I feel that fortune played a role in my career of becoming an expert in global investment. When our company was set on going to London for fund management, my English was relatively better among people in my generation, but more importantly, I believe the opportunity came to me because my experiences and eagerness to tackle challenges were aligned with the Mirae Asset’s vision of becoming a global business. In the process, I was able to gain many years of experience overseas and enhance my capabilities. For this reason, I do not believe that I went overseas because of my potential as a global leader, but that it was thanks to the opportune moment when my capabilities were needed in that situation. However, unlike my own case, I think it is more common for someone who can do business rather than someone who speaks English well to go overseas and become a global expert. So, rather than having specific qualities, I think it is more important to have a set of abilities needed for the role and to be able to do business with an entrepreneurial mindset. If you go overseas with such a mindset, you will find yourself growing even faster as a global investment specialist.

Q: How can AI be used in asset management?
A: Generally, when you think of an example of using AI in asset management, you will think of robo-advisors. If you input a customer’s data in an algorithm and combine them with existing data, you can easily create a service for distributing your property. Since this way of applying AI to asset management produces nearly identical results, I am thinking of ways to go in a different direction. In the investment business, unless you are market passive, your primary goal is to hedge against market changes and generate additional returns, and there are three ways to be good at this. First, stock picking involves analyzing the data well and estimating the intrinsic values of a company. Second, you can be the first to find themes in the market. If you are good at finding themes, such as electric cars and semiconductors, in the early stages, you can generate alpha in the market. Lastly, you can be good at trading. Being good at asset management means having one of these three talents, so we plan on experimenting and teaching AI these attributes. For this, I think we will need more personnel other than those who majored in finance engineering and coding. We need people from diverse backgrounds who have different approaches.

Q: What is the most memorable fund you managed?
A: Many funds come to mind: insight funds, dividend premiums, and several themed ETFs. The proudest moment as a fund manager is when you have lots of returns. This is especially true when the fund size and returns are significant. It also makes a social impact when you increase your clients’ wealth and help them with their post-retirement lives.

Q: What abilities would be necessary for Business School students to work in asset management or investment?
A: For asset management, I think it is beneficial if you have a certain level of knowledge in math and science. Of course, you do not need to be close to a math major, but it would be helpful if you have an understanding of things like financial engineering and coding when you join a company. However, these capabilities are merely desirable, and I cannot declare that learning something specific would undoubtedly be helpful for you. Instead, you need to seriously consider what you are good at and what you would like to do and work hard to find a match between the two, if possible. Some people join financial institutions, although they are not a right fit for them, but I think this is a tough sector for someone who is not cut out for it. For example, some people panic in stressful situations, whereas others take it lightly. I advise you to consider which type of person you are. I also recommend investing in stocks yourself to gain experience. You do not have to invest in large amounts, but it will be helpful to find out if this field is the right fit for you. You will lose and make money and learn what you feel and think in the process. Your worldview will also change by investing. Even if it may not be your full-time job, investing will transform how you look at the world; for example, by watching Nvidia’s stocks, you will be learning why stocks go up, and you can also gain a better understanding of Samsung Electronics by investing in them.

Q: What activities would you like to recommend to undergraduate students?
A: I would like to encourage students to participate in group activities. You can meet many people in the process and form various relationships with your seniors and juniors. I also participated in many group activities in the past and am still in touch with many friends, seniors, and juniors I met through student groups. What I least recommend is studying alone in preparation for something. Of course, it will be a different story if you love studying and want to become a scholar, but I think it is important to form good relationships in the process. Having intelligent friends around you is an asset. The relationships you maintain can be your strength and considering that all your friends will be doing grand things when they graduate and join society, they will become huge assets to you.

Q: Finally, do you have any advice for the SNU Business School students?
A: Students at the SNU Business Schools would be the most talented students there are. So please take pride in yourself. You can become more tolerant if you have confidence and pride in yourself. When you encounter various problems in your life, you can smoothly go over some of them with tolerance. I hope that you all can become people with such patience. I also hope you have the confidence to contribute to society by playing a slightly different role compared to others. People tend to underestimate their potential. I hope you do not underestimate yourself by limiting your dream to simply getting a job and earning money. I also encourage you to be prudent, tolerant, and patient with others. I hope you continue to dream big, even after you join an organization.