KB Asset Management appointed Lee Jun-seok as ETF Product Office Head, the company announced on the 28th. Lee previously served as ETF Marketing Office Head since joining KB in December, and now replaces Lee Soo-jin, who departed for Hanwha Asset Management in late May. The promotion follows KB's organizational restructuring that separated ETF operations into distinct product development and marketing functions. Lee brings experience developing Korea's first US IPO fund during his prior role as Product Strategy Office Head at Woori Asset Management, where the fund surpassed 100 billion won in assets within three months of launch. The appointment addresses KB's need to strengthen product competitiveness as the domestic ETF market rapidly diversifies and market volatility increases.
Lee Jun-seok's Track Record in Fund Development
Lee Jun-seok served as Product Strategy Office Head at Woori Asset Management for approximately two years before joining KB Asset Management in December. During his tenure at Woori, he developed Korea's first fund investing in the US initial public offering market in collaboration with US asset manager Neuberger Berman. The fund surpassed 100 billion won in assets under management within three months of launch. The same fund recently secured allocation in the SpaceX IPO through cooperation with local underwriters. Lee also led the introduction of EMP (ETF Managed Portfolio) funds and drove non-bank portfolio strengthening initiatives. He previously worked in ETF operations at Samsung Asset Management, providing him with established expertise in the ETF sector.
KB Asset Management's ETF Market Position
KB Asset Management's ETF net assets reached 34.2 trillion won as of the previous day, representing a 7.74% market share. This places KB ahead of Korea Investment & Trust Management, which holds 32 trillion won in ETF assets with a 7.26% market share. KB currently ranks third in domestic net assets, benefiting from recent favorable conditions in Korean equity markets. Korea Investment & Trust Management has launched multiple new domestic equity ETF products in succession as part of market share recovery efforts. A KB Asset Management representative stated that the company views strengthening product competitiveness as a critical task given the rapid diversification of the ETF market, and that Lee's experience planning and developing investor-friendly products contributes to current product competitiveness enhancement.
Organizational Restructuring Separates ETF Functions
KB Asset Management previously operated its ETF business under a single integrated headquarters structure. The company restructured the organization to separate ETF operations into distinct functions for asset management and product planning/marketing, aiming to increase specialization in each area. Following Lee Jun-seok's move to ETF Product Office Head, Yuk Dong-hwi, head of the ETF Product Marketing Division, now concurrently serves as ETF Marketing Office Head. An asset management industry source noted that Lee primarily handled product development work before moving to the ETF sector as that market experienced rapid growth, and that his Samsung Asset Management background allows effective collaboration with KB's existing Samsung alumni.
FAQ
What position did Lee Jun-seok receive at KB Asset Management?
Lee Jun-seok was appointed ETF Product Office Head at KB Asset Management on the 28th, moving from his previous role as ETF Marketing Office Head, which he held since joining the company in December.
What is KB Asset Management's current ETF market share?
KB Asset Management holds 34.2 trillion won in ETF net assets as of the previous day, representing a 7.74% market share and placing the company third in domestic rankings ahead of Korea Investment & Trust Management's 32 trillion won (7.26% share).
What notable fund did Lee Jun-seok develop at his previous employer?
Lee Jun-seok developed Korea's first fund investing in the US IPO market while serving as Product Strategy Office Head at Woori Asset Management, collaborating with Neuberger Berman to launch a product that surpassed 100 billion won in assets within three months and recently secured SpaceX IPO allocation.
