IBK Asset Management Opens New Office in Jeonbuk Innovation City

Asset Management Firms Gather Around the National Pension Service

Jeonbuk to Promote Jeonbuk International Financial Center as a Financial Hub

As asset management firms continue to move into Jeonbuk Innovation City, Jeonbuk is gradually establishing itself as a financial city specializing in asset management, centered around the National Pension Service. On August 11, the Jeonbuk Provincial Government announced that IBK Asset Management had opened an office in Jeonbuk Innovation City and begun operations.

On the 11th, the opening ceremony of the IBK Asset Management office in Jeonbuk Innovation City was attended by Heesook Yoo, Head of Corporate Attraction Support Office at Jeonbuk Provincial Government, Sungju Kim, Director of the National Pension Service, Jihoon Cho, Mayor of Jeonju, Chanhee Lim, CEO of IBK Asset Management, and Eunseon Oh, Vice President of IBK Industrial Bank of Korea. Provided by Jeonbuk Provincial Government

The opening ceremony was attended by Heesook Yoo, Head of Corporate Attraction Support Office at the Jeonbuk Provincial Government; Sungjoo Kim, Chairman of the National Pension Service; Jihoon Cho, Mayor of Jeonju; Chanhee Lim, CEO of IBK Asset Management; and Eunseon Oh, Vice President of IBK Industrial Bank.

Established in 2004, IBK Asset Management is an asset management company engaged in fund management, investment discretionary, and investment advisory services. The company has a capital of 20 billion won and manages assets totaling 44.6 trillion won.

The expansion of IBK Asset Management into Jeonbuk is significant because it demonstrates the growing financial ecosystem related to asset management that is forming around the National Pension Service, as individual financial companies continue to establish a presence in the area.

Since the beginning of this year, companies such as Shinhan Asset Management, Allianz Investors, BlackRock, Pebblestone Asset Management, and Starwood Capital have opened offices in Jeonbuk. Goldman Sachs, Pacific Investment Management, and Capstone Asset Management are also expected to move into Jeonbuk Innovation City within the year.

In July, KB Financial Group and Woori Financial Group each launched KB Financial Town and Woori WON Financial Town, further expanding the foundation for financial companies and institutions to congregate.

Since the National Pension Service's Fund Management Headquarters settled in Jeonbuk Innovation City, financial companies have gradually gathered, leading to a shift from a public institution-centric financial ecosystem to one that now includes private asset management firms.

The Jeonbuk Provincial Government is also promoting the establishment of the Jeonbuk International Financial Center in order to connect the presence of individual financial firms into a cohesive financial industry ecosystem. Once the International Financial Center is completed, asset management companies and other financial institutions currently scattered throughout the innovation city will be brought together in one location, which is expected to facilitate greater interaction and collaboration between companies.

Heesook Yoo, Head of Corporate Attraction Support Office at the Jeonbuk Provincial Government, stated, "We welcome IBK Asset Management's entry into Jeonbuk," adding, "We will continue to strengthen the foundation for a financial city specializing in asset management by supporting the trend of asset management firms gathering here."

This content was produced with the assistance of AI translation services.