I realize that IB recruiting in Korea is less structured and based on relationships but I was wondering if I would be able to find a list of IB firms that does recruit in Korea? I am recruiting for 2020 SA internships but it is difficult to apply when I don't even know which firms to apply to. Thanks in advance!
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As you mentioned, the IB scene in Korea is significantly less structured, especially depending upon your very target of IB firms. Are you looking into Foreign banks within Korea(GS,MS,JP), Domestic banks (KB,Hana,Shinhan), or IB arms of Big4?
I am looking for foreign banks within Korea. To provide some context, I currently attend a US college but am looking into opportunities in Asia for visa reasons.
Most BB's have an office in Korea: Goldman, JP, MS
Among others like HSBC and so and so forth. A quick google search will provide you with a comprehensive list. Good luck, man.
Lazard has an office in Korea
Thanks! Will take note :)
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Hey, thanks for sharing! I totally agree with your points but I am a Korean student from a target school in the US. I guess I should have made this clear in my post. However, I am also open to working in Europe so if you could comment/PM me about your experience recruiting in Europe, that'd be awesome!
LDN is possible from a US target FFM not likely without great German skills
LOL you must be a SKKU grad, out of all the BB and Second Tier Foreign I-Bankers in Seoul, i've only met 2 SKKU grads. SNU, Yonsei, Korea are solid targets. Sogang is a target school with presence in Seoul BBs. The smarter kids from SKKU are focused on Law School or are at Med School.
sir you should work on your grammar
Investment banking in Seoul? RIP any hope for a life outside of work. Are the US BBs not hiring foreign students as interns right now?
I would probably even recommend going to a US MM over a BB or Korean major bank in Seoul, I've heard such terrible things about it from my Korean bschool friends.
Yea, that doesn't surprise me. I do not see myself working in Korea permanently. I was looking for internships to get some experience and leverage it for other internships in Asia or US.
Not entirely true - My friend was from a non-target and went through a series of PE/HF internships for about 6-7months and landed some IBD offers at BBs in Korea.
Do you mind asking your friend which PE/HF firm? I am asking because it is difficult to find companies willing to give internships in Korea.
Korea is different from the U.S. in a sense that you could network and get to know someone from cold-calls. Every network and connection is made in person and honestly you have to be physically present as a lot of the firms want you to work right away, probably 3 - 4 days at most, after the final interviews.
I hear the Glorious Bank of Kim Il Sung is hiring
I know a couple of people working in BBs in Korea.
Recruitment cycle is very different and "intern" positions are sometimes given but it does not convert to a FT most of the time. They only hire interns to be FT if one of the spots open up (eg. someone leaving the office).
I also heard that the recent laws in Korea have made it hard for companies in general to hire interns due to them being on contracts (계약직) instead of FT (정규직).
I can give you some help/direction if you want. PM me if that's the case!
Hannibal put it best above, most of my gyopo or korean friends in finance who went to target schools are at HK or NYC.
Out of BBs, CS has a big local presence for the Seoul Office. EBs in Korea have very small presence compared to NYC.
Not a lot of ECM deals for BBs locally but DCM, especially Dollar, Yen, Formosa Bonds are led by a few companies. Bilingual proficiency a must
some more tidbits of info for you because why not.
Barclays does not do business in Korea since 2010? 09? UBS hardly does M&A deals.
Yes, GS, MS, JPM do megadeals in Korea but CS comparatively has a yuge presence.
Most new incoming analysts for BBs are around 25~28. This is not only because of the mandatory military service (2yrs-recently reduced to 18mos for Army) but because the recruiting scene is too competitive with very small openings. Most BB new hires already have 3~4 internships under their wing (some being 7~8) with internship experiences in IB, PE/VC, MBB, et cetera.
So yeah, my recommendation for you if you're a Korean-American (or someone with a work visa) is to recruit for either Wall Street, or, HK.
From what I've heard from my Korean friend who interned at one of the BBs in Korea, CS' "yuge presence" is because they cut their fee to almost 60~70% of those of other BBs. Is that right?
Don't limit yourself to SK! Give North Korean https://en.wikipedia.org/wiki/List_of_banks_in_North_Korea</a">banks a chance.
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