KOREA WHO
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Chairman of Meritz Financial Group
Cho Jung-ho
Reclusive Heir Breaks from Hanjin, Rejects Succession for Pro Management
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Last Updated on Jul 8, 2025
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Chairman of Meritz Financial Group
Life Summary
Cho Jung-ho is the chairman of Meritz Financial Group.
He was born on October 5, 1958 (lunar calendar) in Incheon as the youngest of four sons and one daughter of Cho Joong-hoon, the founder of Hanjin Group.
He graduated from Thacher School in Boston, United States, and earned a degree in economics from the University of Southern California.
He also completed an MBA program at the International Institute for Management Development (IMD) in Switzerland.
Cho began his career at Korean Air as a deputy manager and worked in the European regional headquarters before moving to Hanil Securities.
After a stint at Hanjin Investment & Securities, he joined Dongyang Fire & Marine Insurance, an affiliate of Hanjin Group, as executive vice president.
Among his siblings, he was the first to become independent from Hanjin Group. He rebranded Hanil Securities and Dongyang Fire & Marine Insurance as Meritz Securities and Meritz Fire & Marine Insurance, respectively, and became chairman of Meritz Securities.
After the death of his father, founder Cho Joong-hoon, he spun off three financial companies—Meritz Fire & Marine Insurance, Meritz Securities, and Hanbul Finance—and launched the Meritz Financial Group by bringing them under one umbrella.
Although he was appointed chairman of the holding company, Meritz Financial Group, he stepped back from management after facing criticism for receiving KRW 13.6 billion (US$ 9.8 million) in compensation and dividends.
He later returned as full-time chairman of Meritz Securities, and in 2014, he resumed his role as chairman of Meritz Financial Group.
He upholds the principle of "separating ownership and management" and grants autonomy to professional executives.
He is proactive in recruiting top talent and has implemented a compensation system that rewards performance.
#ChoJungHo #MeritzFinancialGroup #MeritzSecurities #MeritzInsurance #HanjinGroup #FinancialIndustry #ProfessionalManagement #OwnershipSeparation #KoreanBusiness #CorporateGovernance
He was born on October 5, 1958 (lunar calendar) in Incheon as the youngest of four sons and one daughter of Cho Joong-hoon, the founder of Hanjin Group.
He graduated from Thacher School in Boston, United States, and earned a degree in economics from the University of Southern California.
He also completed an MBA program at the International Institute for Management Development (IMD) in Switzerland.
Cho began his career at Korean Air as a deputy manager and worked in the European regional headquarters before moving to Hanil Securities.
After a stint at Hanjin Investment & Securities, he joined Dongyang Fire & Marine Insurance, an affiliate of Hanjin Group, as executive vice president.
Among his siblings, he was the first to become independent from Hanjin Group. He rebranded Hanil Securities and Dongyang Fire & Marine Insurance as Meritz Securities and Meritz Fire & Marine Insurance, respectively, and became chairman of Meritz Securities.
After the death of his father, founder Cho Joong-hoon, he spun off three financial companies—Meritz Fire & Marine Insurance, Meritz Securities, and Hanbul Finance—and launched the Meritz Financial Group by bringing them under one umbrella.
Although he was appointed chairman of the holding company, Meritz Financial Group, he stepped back from management after facing criticism for receiving KRW 13.6 billion (US$ 9.8 million) in compensation and dividends.
He later returned as full-time chairman of Meritz Securities, and in 2014, he resumed his role as chairman of Meritz Financial Group.
He upholds the principle of "separating ownership and management" and grants autonomy to professional executives.
He is proactive in recruiting top talent and has implemented a compensation system that rewards performance.
#ChoJungHo #MeritzFinancialGroup #MeritzSecurities #MeritzInsurance #HanjinGroup #FinancialIndustry #ProfessionalManagement #OwnershipSeparation #KoreanBusiness #CorporateGovernance