Eastspring Asset Management Korea, the Korean asset management arm of Prudential's Eastspring Investments, has named a new chief executive.

Woong Park will now be responsible for driving and developing the institutional and retail businesses in the country. Prior to joining the firm, Park was CEO and president of Mirae Asset Global Investments in Hong Kong. He was previously the international chief marketing officer for Mirae in Korea. 

He replaces Wonki Lee, who is taking a corporate career break after leading the Korea business for two and a half years.

Eastspring Investments has operations in 12 markets across Asia and has around US$85 billion in assets under management as of 30 June 2012.