MBK’s ByungJu Kim, UBS’ Kyungin Lee: Most influential in capital market

Michael ByungJu Kim, co-founder, partner and chairman of Northeast Asia-focused private equity firm MBK Partners Ltd., and Kyungin David Lee, UBS Global Banking Asia vice chairman, have been named the two most influential figures in Korea’s capital market last year.

MBK’s Kim ranked at the top for the second consecutive year in a survey of 56 capital market specialists at Korean and overseas investment banks, private equity funds (PEFs) and pension funds.

The survey, conducted by Market Insight, The Korea Economic Daily’s capital market news outlet, showed on Monday that MBK’s Kim and UBS’ Lee each received nine votes from the 44 experts who responded to the poll, or 20.5% of the respondents, as the most powerful figures in Korea’s investment banking industry.

MBK Partners shook Korea’s capital market last year by launching a governance-focused PEF investment strategy, starting with the ongoing Korea Zinc Inc. management dispute.

At MBK's annual meeting last November, Chairman Kim said, “Corporate governance improvement will be a critical issue in Korea’s and Japan’s PEF markets.”

MBK’s Kim has seen his clout over the capital market throughout Asia grow considerably in recent years.

He co-founded MBK in Seoul in 2005 after leaving Carlyle Asia Partners. The North Asia-focused PE firm manages more than $30 billion in assets and has commitments from about 150 global institutional investors, including Korea’s National Pension Service, Singapore’s sovereign wealth fund GIC, and the Canada Pension Plan Investment Board.

UBS’ LEE: A PROMINENT FIGURE

UBS Global Banking Asia Vice Chairman Lee emerged as a prominent figure in the Korean capital market as the investment bank handled several corporate restructuring projects, from Taeyoung Construction & Engineering Co.'s debt workout to SK Group’s business rebalancing and Lotte Group’s non-core asset sales triggered by the financial crisis surrounding Lotte Chemical Corp.

Kyungin David Lee joined UBS following its acquisition of Credit Suisse in 2023.

Before UBS, he served as Credit Suisse Group’s Seoul branch chief.

Under Lee's leadership, UBS emerged as a key player in Korea’s M&A market last year.

As joint financial advisors, UBS and Citigroup Global Markets completed the 2.1 trillion won ($1.6 billion) sale of Taeyoung’s Ecorbit Co.

UBS also led the sale of SK Rent-a-Car Co., worth 820 billion won; the 1.6 trillion won sale of Lotte Rental Co.; and the 1.55 trillion won package deal for Woori Financial Group Inc. to acquire Tongyang Life Insurance Co. and ABL Life Insurance Co. from China’s Dajia Insurance Group Co.

UBS has also managed the stake sale of Kumho Industrial Co. in 2019 and the sale of Kumho Group’s divestment of Asiana Airlines Inc., which has become part of Korean Air Lines Co. through a merger.

KB SECURITIES’ KIM SUNG-HYUN

Kim Sung-hyun, chief executive of KB Securities Co., came in third with six votes or 14.6% on the 2024 list of Korea’s most influential capital market figures.

He has been credited with establishing KB Securities as a premier investment banking powerhouse in Korea.

“Under his leadership, KB Securities has shown excellence not just in the DCM (debt capital market) sector but also in the ECM (equity capital market) segment and the alternative investment sector,” said a domestic brokerage executive.

UBS: KOREA’S TOP IB HOUSE

The Market Insight survey showed that UBS was named the top investment banking house in Korea, receiving 13 votes out of 50 respondents.

Analysts said the merger of UBS, with its strong asset management and research capabilities, and Credit Suisse, which traditionally excels in M&As, initial public offerings (IPOs), and block deals, has created synergy in Korea’s capital market.

UBS achieved notable results in IPOs, including the Kospi market debut of HD Hyundai Marine Solution Co. in May, and in several bloc deals involving major financial holding companies.

KOREA INVESTMENT, KB SECURITIES, NH INVESTMENT

Korea Investment & Securities Co. came in second with 12 votes or 24% on the list of Korea's most powerful IB houses.

Industry watchers said Korea Investment performed well across the IB sector, including rights offerings, IPOs, corporate bond issues and financing.

Last year, KB excelled in major ECM deals such as LG Display Co.’s rights offering and the IPO of HD Hyundai Marine Solution.

It also demonstrated excellence in the DCM segment by solely managing corporate bond issues for Netmarble Corp., Korea Asset In Trust Co. and SK Rent-a-Car.

NH Investment & Securities Co. ranked fourth with six votes or 12%.

Write to Jun-Ho Cha at chacha@hankyung.com

In-Soo Nam edited this article.