Meritz Financial Group

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.^[1]

Meritz Financial Group Inc.

Native name	주식회사 메리츠금융지주
Company type	Public
Traded as	KRX: 138040
Industry	Financial services
Predecessor	Financial arm of Hanjin
Founded	March 2011; 14 years ago (2011-03)
Headquarters	Seoul , South Korea
Key people	Cho Jung-ho (Chairman)
Website	www.meritzgroup.com

History

Meritz Financial Group was formed when Hanjin Group founder Cho Choong-hoon died in 2002.^[2] 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.^[3][4] In 2005, Cho formally broke off the financial affiliates from Hanjin and renamed them Meritz Financial Group.^[5] 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.^[6] Meritz Financial Group has five major subsidiaries, including Meritz Fire & Marine Insurance, Meritz Securities, Meritz Asset Management, Meritz Alternative Investment Management, and Meritz Capital.^[7]