MIGA appoints head of North Asia

Jae Hyung Kwon will oversee the World Bank affiliate's business in China, Korea, Japan and Mongolia.

The Multilateral Investment Guarantee Agency (MIGA), the political risk insurance and credit enhancement arm of the World Bank Group, has appointed Jae Hyung Kwon as senior underwriter and head of North Asia. 

Based in Seoul, Korea, Kwon's new role will see him oversee MIGA’s business in China, Japan, Korea and Mongolia. 

Kwon, who joined MIGA’s infrastructure team in 2012, was based in the agency’s Washington DC headquarters until now. Prior to joining MIGA, he worked at Standard Chartered Bank in Korea and Singapore as associate director. Previously, Kwon was an associate in the trading and investment group at Korea’s Samsung C&T.

“I am honoured to support MIGA’s clients in a geography to which I’m deeply connected,” Kwon said in a statement. “The sub-region represents a mix of countries where MIGA aims to facilitate both inbound and outbound investment.”

While export-credit agencies in China, Japan, and Korea play an important part in catalysing investment and building infrastructure across the region, MIGA believes “there are opportunities for greater collaboration and for MIGA to support certain investments ineligible for support from these agencies.”

Keiko Honda, MIGA’s executive vice president and chief executive officer, said: “I’m very pleased to see Kwon take the skills and knowledge he has proven in Washington to be closer to our North Asia-based clients.”