JPMorgan Chase's Jamie Dimon to visit S.Korea on June 5

JPMorgan Chase & Co. Chairman and CEO Jamie Dimon is set to visit Seoul on June 5 and discuss South Korea’s overseas investments with executives of local financial institutions.

Dimon is scheduled to meet Jin Seoungho, CEO of sovereign wealth fund Korea Investment Corporation (KIC), which managed $169.3 billion as of end-2022, and others in the country, according to investment banking industry sources in Seoul on Friday. Dimon, Wall Street’s longest-serving CEO, last met Jin in October 2022; he met Kim Tae-hyun, chairman of Korea's National Pension Service (NPS), in April in the US.

JPMorgan Chase has maintained strong business ties with Korea’s pension funds and other financial entities. KIC entrusts JPMorgan with funds from Korea’s finance ministry. State Street Bank and Trust Co. and Bank of New York Mellon Corp. manage funds entrusted by Korea’s central bank.

WILL DIMON MEET KOREAN PRESIDENT?

It is still unclear whether Dimon will meet Korean President Yoon Suk Yeol, who introduced himself as the country’s “No. 1 salesman” at a meeting with the CEOs of major global companies that included the JPMorgan chairman during the World Economic Forum in Davos, Switzerland, last January.

“Your experiences and wisdom will be of great help to finding a way out for Korea amid the global crisis,” Yoon told the CEOs at the time.

Dimon met former Korean President Lee Myung-bak twice — in 2008 and 2011.

The US billionaire banker, who earned an MBA from Harvard Business School, started his Wall Street career at American Express Co. as an assistant to the CEO Sanford Weill. Dimon was named president of Citigroup Inc. in 1998.

He became CEO of JPMorgan Chase in 2006 and a year later became chairman of the company’s board. He was named president and chief operating office when the company merged with Bank One Corp. on July 1, 2004.

Write to Byeong-Hwa Ryu at hwahwa@hankyung.com
 
Jongwoo Cheon edited this article.