J.P. Morgan Expands Commercial Banking In South Korea
The new business, led by Min Kim, will serve South Korea-headquartered, midcap companies
Seoul, October 14, 2021 – J.P. Morgan is expanding its Commercial Banking business in South Korea to provide midcap companies with access to leading financial capabilities, a strong global network and deep market expertise. This marks the 19th country Commercial Banking has increased its footprint outside of the United States in less than three years to serve locally-headquartered, midcap companies.
“Korea is a very important market. We’ve been in Korea for more than 50 years and have deep local knowledge, global insights, and best in class solutions which uniquely positions us to support Korea’s midcap companies and serve clients’ complex and cross-border needs for the long term,” said Tae Jin Park, CEO of J.P. Morgan Korea. “We will continue to invest in our domestic platform and remain dedicated to bringing J.P. Morgan’s global financial solutions and expertise to local corporates.”
J.P. Morgan Commercial Banking has named Min Kim to lead the new business, Corporate Client Banking & Specialized Industries (CCBSI), in South Korea. Kim brings more than 20 years of banking experience to J.P. Morgan, most recently as the Divisional Head of International Corporates at Standard Chartered Bank Korea for the last four years. As the new head of CCBSI Korea for J.P. Morgan, Kim will build a dedicated team of bankers and establish the new business’ presence in Korea to support clients with their treasury management, credit and investment banking needs.
“We see great growth opportunities for midcap companies in key markets like Korea as these businesses look beyond their domestic market to grow. We’re investing in our business and our onshore capabilities to deliver the full breadth of the firm to help local midcap corporations realize their global growth ambitions,” said Pravin Advani, Head of CCBSI Asia-Pacific at J.P. Morgan.
Korea is the newest market in J.P. Morgan’s CCBSI global expansion effort announced in early 2019. While coverage is now extending to serve, Korea-headquartered companies, Commercial Banking continues serving their U.S. subsidiaries and subsidiaries of foreign-headquartered clients operating in South Korea.