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Over his two-decade career, Eric Kim has been integral to Macquarie’s success in South Korea and its growth in becoming one of the largest foreign fund managers in the country. His career in infrastructure, private equity investment and asset management has seen him become Country Head for Macquarie Group Korea, and Head of Macquarie Asset Management Real Assets for North Asia.
Eric Kim is Country Head for Macquarie Group Korea and Head of Macquarie Asset Management Real Assets for North Asia. He joined Macquarie’s Seoul office more than 20 years ago and since then, his constant pursuit of new opportunities has been integral in helping Macquarie deliver positive impact through infrastructure investment in South Korea.
Eric says the South Korean market for infrastructure investment is competitive, but Macquarie has always stayed one step ahead through innovative approaches.
“Macquarie pioneered the infrastructure market in South Korea,” he explains.
“Macquarie Korea Infrastructure Fund (MKIF) is the only listed infrastructure fund in South Korea, and the largest, making us the biggest foreign infrastructure manager in South Korea.”
“Korea and Japan are increasingly appealing to international investors,” Eric explains. “It’s a big market, delivering opportunities and attracting more competition.”
In 2002, Eric had graduated with a degree in finance and accounting from a university in the US and completed two years military service in South Korea. He dreamed of a career in financial services but faced a lack of advertised roles, thanks to the fallout from the dotcom bubble in the early 2000s.
“I was watching the news, there was an alert saying Macquarie was one of the only financial services organisations hiring globally,” Eric explains.
Macquarie had opened a small office in Seoul two years earlier in 2000.
“I applied and became Macquarie’s first Business Analyst in the Seoul office,” he says.
Eric spent two years in Macquarie Capital’s Financial Product team, before moving to the Corporate Finance team working on principal investments.
“I was lucky to get involved in some of the big infrastructure transactions in Korea.”
Eric was promoted to Senior Managing Director in 2016 and completed a Master of Finance in 2011. He was appointed Head of Macquarie Asset Management Real Assets Korea in 2019, and Country Head for Macquarie Group Korea in 2019.
Eric is also on the Board of Directors for Macquarie Korea Asset Management (MKAM) which manages MKOFs, KPCFs and MKIF.
The Seoul office has grown considerably over more than 20 years and now other areas of Macquarie’s business, such as Macquarie Capital and Commodities and Global Markets also operate out of the location.
Macquarie Asset Management has ~ KRW10.8 trillion Korean Won asset under management, including 41 portfolio assets in Korea1. Macquarie Securities Korea offers equities research, securities brokerage and commodities derivatives. Macquarie Capital focuses on principal investment and advisory services in sectors including waste, energy, digital and renewable and Macquarie’s Specialised and Asset Finance also has a presence.
“There’s an amazing variety of work and potential for learning and development with Macquarie,” Eric says.
He also believes an emphasis on culture has been integral to Macquarie’s success.
“There’s a big focus on social value, transparency, and the impact we have in the market and society,” Eric says.
We manage risk and build long- term credibility with our clients and partners, while also investing in our people and embracing diversity, equity and inclusion."
“This all facilitates sustainable growth.”
Eric says he has also been empowered by the organisation’s constant innovation and change, which opens new doors.
“The sense of ownership I’ve been given at Macquarie has been a key driver in my success, and our ability to succeed as a business,” he explains. “Even when I was a Business Analyst, I felt that entrepreneurial spirit, support from senior management and mobility.”
In his current role, Eric focuses on infrastructure and private equity investment for both Korea and Japan.
Eric oversees the Macquarie Asset Management business in Korea, including management of the Macquarie Korea Opportunities Fund (MKOF) series.
“MKOF is a private equity fund investing in sectors like IT digital infrastructure, energy transition, public transportation, settlement service providers, and facility management companies,” he says. “Our track record means Macquarie Asset Management Real Assets is exploring this new market globally.”
A fourth series is also underway through Korean Private Concession Fund (KPCF), investing in real assets with contracts with private operators, ranging from real estate to hotels, car parking, highway rest stations and industry gas.
“It’s a very unique product in the market and at Macquarie.”
Eric says the largest part of his role is creating all kinds of possibilities for the team.
“I’m out there in the market talking to clients and business partners, explaining our fund activities and creating opportunities.”
“We are growing the assets we’ve invested in, making sure they meet their business plans, while also focusing on improving Environmental, Social and Governance (ESG), including our commitment to net zero by 2040.”
Eric says that the wider team in Seoul benefits from a balance of local expertise with a global perspective.
Macquarie understands the local Korean and North Asian market and that’s a driver in our achievements."
“But while we may be working on local infrastructure or investment opportunities, our outlook and the way we do business is international.”
Eric sits on the investment committee for the Macquarie Asia Infrastructure Fund, describing it as an opportunity to expand his views and experience outside of Korea and Japan and learn from colleagues in Australia, Singapore, India, China and other countries.
“It’s helped me grow to the next level,” he says. “I’ve had a global career but also seen the impact of my work in creating real value for Korea and the local community.”
1. 10.8 trillion Korean Won with 40 assets by 31st August 2023.
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