Mirae Holdings Ltd. Is incorporated and appoints CEO

 

 

 

□ Mirae Holdings Ltd., which is a technology holding company to be established jointly by universities specialized in science and technology was officially founded and appointed the CEO on March 19.

 

□ The Ministry of Science, ICT and Future Planning (Minister Choi Mun-ki), Korea Advanced Institute of Science and Technology (KAIST, President Kang Sung-mo), Gwangju Institute of Science and Technology (GIST, President ž Young Joon Kim), Daegu Gyeongbuk Institute of Science and Technology (DGIST, President Shin Sung-cheol) and Ulsan National Institute of Science and Technology (UNIST, President Cho Mu-je) said that the procedures for the establishment of the joint technology holding company were completed on March 19.  

 

o The holding company was named as Mirae Holdings, Ltd.(“Future Science and Technology Holding Company” in Korean) which means it aims to cultivate world-class technology venture firms and create new growth engines for the Korean economy by tapping the power of science and technology.

 

o Mirae Holdings started with a capital of 2 billion won invested by the universities and the amount of capital will increase to 140 by 2018.

 

- Ulsan National Institute of Science and Technology could not participate in the establishment of Mirae Holdings this time since a bill to amend the law on the foundation and operation of UNIST for converting UNIST into an advanced institute of science and technology has yet to be passed. But, once the procedures to become an advanced institute of science and technology are completed, UNIST will make an investment to join the holding company.

 

※ (progress) Launched a working-level group to establish a joint technology holding company (Sep. 25, ‘135)→ Signed an agreement on the foundation of a joint technology holding company (Oct. 28, ‘13)→ Registered the corporation (Mar. 19, ‘14)

 

- POSTECH, one of the science universities which joined hands to found the holding company, already has its own technology holding company and hence will pursue close cooperation between its in-house firm and Mirae Holdings.

 

□ Mirae Holdings looked for CEO candidates through a public recruitment and appointed Mr. Kim Young-ho as CEO. Mr. Kim has previously served as the representative director of Jeonbuk Technology Holdings (JBTH), the investment vice president of Boston Investment Ltd., etc. and worked on new business planning and in-house ventures cultivation at large businesses, which made him the right person to relay universities’ developed technologies to the market.

 

※ (progress) advertisement on the CEO recruitment (Jan. 6, ‘14)→ deadline to receive applications (~Jan. 23, 16 people applied)→ paper screening (Jan. 28, 6 candidates were selected)→ presentation evaluation (Feb. 18, 3 candidates were shortlisted)→ final  evaluation (Feb. 26)→ background/medical check (~Mar.19)

 

o CEO Kim Young-ho said “The main role of the “Science and Technology-specialized Universities” is to conduct research on science and technology and create high-quality R&D outcomes by pundits. I feel a strong responsibility on my shoulders as the first CEO of the technology holding company which is charged with the selection and commercialization of technologies satisfying market demands so that excellent research outcomes of the universities do not go unnoticed”. He expressed a firm determination as saying “The technology holding company is a new business model at its infancy. I will make sure to set the foundation for this company to become a global enterprise in a shortest span of time, thereby increasing R&D productivity of the science universities, creating jobs and contributing to the economic development of Korea.”