Morgan Stanley Appoints Citigroup's Kim Seok-bong as Korea IB Co-Head

Morgan Stanley appointed Kim Seok-bong, a vice president at Citigroup Global Markets Securities, as chairman and co-head of Korea investment banking on September 3, according to industry sources. Kim will form a co-leadership structure with existing representative Kim Se-won, who has led the organization alone since former representative Jo Sang-wook's resignation in May last year after over 13 years. The appointment brings a dealmaker known for leading major Korean capital markets transactions, including SK Hynix's approximately 40 trillion won American Depositary Receipt issuance - the largest foreign company Nasdaq listing - to Morgan Stanley's Korea IB division.

Kim Seok-bong Led Major Capital Markets Deals at Citigroup

Kim Seok-bong led SK Hynix's American Depositary Receipt issuance, valued at approximately 40 trillion won and recorded as the largest foreign company Nasdaq listing. He participated in LG Energy Solution's initial public offering, which became the largest IPO in Korean stock market history, along with major listings including Kakao Bank and SK Biopharm. His M&A portfolio includes EQT's acquisition of Dazon Bizon, CEO Huh Jae-myung's sale of Iljin Materials, Lotte Group's sales of Lotte Card and Lotte Insurance, and SK Hynix's acquisition of Intel's NAND flash business unit.

Morgan Stanley Korea IB Transitions to Co-Leadership Structure

Morgan Stanley Korea IB underwent leadership transition after Jo Sang-wook, who led the organization for over 13 years, announced his resignation in May last year. Kim Se-won, formerly of UBS, was appointed as the new representative and led the organization in a single-leadership structure. The appointment of Kim Seok-bong as co-head establishes a dual leadership system for Morgan Stanley Korea IB. Morgan Stanley did not participate as a lead underwriter in the SK Hynix ADR transaction completed last month, which was led by Citigroup Global Markets Securities, Goldman Sachs, JP Morgan, and Bank of America.

Morgan Stanley Advised on Three Major Deals in 2024

Morgan Stanley advised on Han & Company's sale of SK Shipping's VLCC business unit, KKR's acquisition of Samsung SDS convertible bonds, and Carlyle's acquisition of Chungho Nais this year.

Kim Seok-bong Holds Degrees from Yonsei, Chicago, and Korea Universities

Kim Seok-bong earned a bachelor's degree from Yonsei University, an MBA from the University of Chicago Booth School of Business, and a PhD in Business Administration from Korea University.

FAQ

What position did Morgan Stanley appoint Kim Seok-bong to on September 3? Morgan Stanley appointed Kim Seok-bong as chairman and co-head of Korea investment banking. He will form a co-leadership structure with existing representative Kim Se-won.

What major transaction did Kim Seok-bong lead at Citigroup? Kim Seok-bong led SK Hynix's American Depositary Receipt issuance valued at approximately 40 trillion won, which was recorded as the largest foreign company Nasdaq listing. He also participated in LG Energy Solution's IPO, the largest in Korean stock market history, and major listings including Kakao Bank and SK Biopharm.