Korea Investment Holdings subsidiary Korea Investment & Securities said on the 16th that it discussed business cooperation plans with JP Morgan.
At the meeting held that day at Korea Investment & Securities' headquarters in Yeouido, Seoul, President Kim Seong-hwan of Korea Investment & Securities and Dan Watkins, JP Morgan Asia-Pacific chief executive officer (CEO), attended. The two sides discussed plans to launch products for Korean investors and provide JP Morgan's global research. They plan to roll out investment and financing products for Asia and China first.
JP Morgan is the asset management arm under J.P Morgan Chase & Co, holding $3.9 trillion (about 5,400 trillion won) in assets under management (AUM). It covers not only traditional assets such as stocks and bonds, but also a wide range of alternative investments including real estate, infrastructure, private equity and hedge funds, multi-asset, and exchange-traded funds (ETF).
Korea Investment & Securities has also formed strategic collaborations with Goldman Sachs, Carlyle, MAN Group, and AllianceBernstein to diversify its global partnerships.
President Kim Seong-hwan said, "We held a substantive meeting that will allow us to offer special products to Korea Investment & Securities clients," and added, "We will continue to strengthen our global financial network to expand opportunities for domestic investors to participate in the global investment ecosystem."