JP Morgan Expands Commercial Banking in South Korea
(19 October 2021 – South Korea) JP Morgan is expanding its commercial banking business in South Korea by launching a new team focused on financing midcap companies.
The new office will have eight to 10 bankers led by ex-Standard Chartered Korea head of international corporates Min Kim.
In Korea, businesses with total assets between 500 billion won ($421.1 million) and 10 trillion won are classified as midcap companies.
“We will continue to invest in our domestic platform and remain dedicated to bringing JP Morgan’s global financial solutions and expertise to local corporates,” said CEO of JP Morgan Korea Tae Jin Park.
“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 realise their global growth ambitions,” said Pravin Advani, JP Morgan Head of Corporate Client Banking & Specialized Industries (CCBSI) Asia Pacific.