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[Alpha Biz=(Chicago) Reporter Kim Jisun] Mirae Asset Asset Management argued that Mirae Asset Consulting is only the group's flagship company, not a "control tower" that gives business instructions to its affiliates.
Mirae Asset refuted the prosecution's claim that it forced affiliates to pay more than necessary to increase profits of Mirae Asset Consulting, whose family is the largest shareholder, under the intervention of Mirae Asset Capital.
On the 28th, the Criminal Chamber 15 (Senior Judge Hyun Kyung-hoon) of the Seoul Central District Court held a trial date for Mirae Asset Asset Management and Mirae Asset Life Insurance, which were indicted on charges of violating the law on monopoly regulation and fair trade. At the trial, a lawyer's objection to Mirae Asset Life Insurance employee A was conducted. Mr. A was dispatched to Mirae Asset Capital and Mirae Asset Daewoo (currently Mirae Asset Securities) from 2015 to 2019 and was in charge of VIP marketing.
"Since Mirae Asset Group was designated as a mutual investment-limited enterprise group in 2010, Mirae Asset Capital is in charge of carrying out business group-related tasks, such as identifying the status of its affiliates and disclosing the overall status of the group," the defendant's lawyer said. "It is advantageous to collect common tasks in one place, such as educating executives and employees containing the group's ideology, providing welfare services such as health checkups, and having bargaining power in purchasing."
"On the last day, I was asked by the prosecution whether Mirae Asset Capital was acting as a control tower for the group," the lawyer said. "While working, Mirae Asset Capital was briefed on the central issues of each affiliate, controlled them, received regular reports in addition to public collection work, or unilaterally asked for instructions from superiors."
In response, A replied, "Mirae Asset Capital has never served as a group control tower while I was working."
In addition to Mirae Asset Securities and Mirae Asset Life Insurance, Mirae Asset Management would have dispatched operating personnel in order for Mirae Asset Capital to act as a control tower, but there was no dispatch of personnel from operations because it only aimed at VIP marketing synergy of securities and insurance centered on retail customers.
The court will set January 25 next year as the next date and proceed with the witness questioning requested by the defendant.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
