JPMorgan to open office in Jeonju, expand NPS ties

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JPMorgan Asset Management, which oversees $4.8 trillion in assets globally, plans to open an office in Jeonju, North Jeolla Province, South Korea, next year as it expands its…

JPMorgan Asset Management, which oversees $4.8 trillion in assets globally, plans to open an office in Jeonju, North Jeolla Province, South Korea, next year as it expands its partnership with the National Pension Service (NPS) across all asset classes.

The two institutions signed a memorandum of understanding on Nov. 10 at JPMorgan Chase’s headquarters in New York, upgrading an investment management relationship dating back to 2015 into a broader strategic partnership.

The agreement covers equities, fixed income, multi-asset strategies and alternative investments, with the two sides agreeing to share investment expertise and research across asset classes.

About 20 officials attended the signing ceremony, including NPS Chairman Kim Sung-joo and JPMorgan Asset Management Chief Executive Officer George Gatch.

Under the agreement, the institutions will exchange information on global financial market trends, portfolio construction and risk management. They will also collaborate on investment research and explore additional opportunities aligned with NPS’s long-term investment objectives.

Before the signing, Kim met with JPMorgan Chase Co-President Troy Rohrbaugh to discuss expanding strategic cooperation between the two organizations.

An NPS official said the pension fund would continue exploring additional areas of cooperation consistent with its long-term investment goals.

JPMorgan Chase traces its origins to 1799 and operates across investment banking, consumer banking, commercial banking and asset management. Its asset management business oversaw $4.8 trillion as of the end of September 2026.

Gatch welcomed the expanded partnership, saying it would strengthen the firm’s longstanding relationship with NPS and provide opportunities to share its global active investment expertise in support of the pension fund’s long-term objectives.

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