Headquarters of multinational asset management company Apollo in New York / Captured from Apollo website

Apollo, a multinational asset management company headquartered in New York, announced Monday that it has opened an office in Seoul as a part of its expansion in the Asia-Pacific region.

The company said Lee Jae-hyun, a former Samsung Securities senior executive vice president, will serve as a partner and head of Korea with a mission to “execute and build on its growth plans in the market.”

Lee Jae-hyun, partner and head of Korea for Apollo / Courtesy of Apollo

The announcement follows Apollo's more than 15 years of operation around the Asia-Pacific region, including Singapore, Hong Kong, Tokyo, Sydney and Mumbai.

“Korea is a leading financial hub where we see a tremendous opportunity to serve investors and retirees across the risk-return spectrum and meet businesses' growing demand for flexible, creative capital solutions,” Apollo Asset Management Co-President Scott Kleinman said.

With regard to Lee, Kleinman said the company is “thrilled to welcome” him, expressing hope to “strengthen presence across Asia-Pacific and execute global growth strategy.”

Apollo Partner and Head of Asia-Pacific Matt Michelini said, “As we grow our franchise in Korea, we are excited to work alongside pensions, insurers and other institutions as a scaled provider of excess return."

In particular, Michelini commented on the growing retirement market in Korea as people live longer.

“We expect our reach will extend across the region's retirement ecosystem, where we also aim to deliver yield-oriented solutions to individuals and savers seeking duration-matched income products,” he said.

Lee described Apollo as a company with “an incredible platform delivering private capital and retirement solutions to clients globally,” adding, “I am excited to lead their efforts on the ground in Korea."

He went on to say, “I look forward to working with Matt and the team across Asia-Pacific and the globe to build upon the strong momentum in the region.”

He built his career serving in key positions at multiple multinational companies prior to Samsung Securities, including Goldman Sachs, BNP Paribas and J.P. Morgan.

He holds a bachelor's degree from Seoul National University, an MBA from the University of Pennsylvania's Wharton Schoo of Business and a doctorate from the Hong Kong Polytechnic University.