Meritz Financial Group

Meritz Financial Group Inc.
Native name
주식회사 메리츠금융지주
TypePublic
KRX: 138040
IndustryFinancial services
PredecessorFinancial arm of Hanjin
FoundedMarch 2011; 15 years ago (2011-03)
Headquarters
Seoul
,
South Korea
Key peopleCho Jung-ho (Chairman)
Websitewww.meritzgroup.com

Meritz Financial Group Inc. (Korean: 주식회사 메리츠금융지주) is a financial holding company headquartered in Seoul, South Korea. Meritz Financial, with its major subsidiaries including Meritz Fire & Marine Insurance and Meritz Securities, is one of the major financial groups in South Korea.

History

Meritz Financial Group was formed when Hanjin Group founder Cho Choong-hoon died in 2002. After the founder's death, the group was succeeded by his four sons. Cho Jung-ho, the founder's fourth son, inherited Hanjin's financial arm, including Oriental Fire & Marine Insurance, Meritz Securities, and Korean-French Banking. In 2005, Cho formally broke off the financial affiliates from Hanjin and renamed them Meritz Financial Group. In 2011, Meritz Fire & Marine Insurance launched a financial holding company. It was founded by spinning off a holding company, Meritz Financial Group Inc., from Meritz Fire & Marine Insurance. Meritz Financial Group has five major subsidiaries, including Meritz Fire & Marine Insurance, Meritz Securities, Meritz Asset Management, Meritz Alternative Investment Management, and Meritz Capital.

References

  1. ↑ "Assets of 8 key financial groups nearly double over decade". Yonhap. Seoul. July 27, 2022.
  2. ↑ 메리츠금융그룹. "메리츠금융그룹". m.meritzgroup.com (in Korean). Archived from the original on 2024-12-21. Retrieved 2025-01-20.
  3. ↑ Joo, Jung-wan (May 14, 2003). "Hanjin nears heirs' breakup". Korea JoongAng Daily.
  4. ↑ Global, K. E. D. "Meritz emerges fast to take on South Korea's big financial companies". KED Global. Retrieved 2025-01-20.
  5. ↑ Park, Anna J. (October 6, 2022). "Meritz flourishes on Chairman Cho's meritocracy-based management". The Korea Times.
  6. ↑ "Meritz Fire launches holding firm". Yonhap News Agency. Seoul. March 28, 2011.
  7. ↑ "Meritz Securities Sustainability Report 2021" (PDF). Meritz Securities.