Treasury & Securities Services
Treasury Services
J.P. Morgan satisfies the bulk of cash management needs for our clients operating in Korea by offering reliable and innovative payables and receivables management services, liquidity and trade services. With more than 50,000 clients and the ability to deliver services in over 50 countries, J.P. Morgan is one of the world's largest providers of treasury management services to corporations, financial services institutions, governments and municipalities worldwide.
Customer service support for Korean clients is provided by in-country staff in both English and Korean.
Cash Management
Account Services
J.P. Morgan offers bank accounts in the KRW and multiple foreign currencies including USD. (Note: the government places restrictions on some nonresident bank accounts. Clients operating in Korea with nonresidential status should speak with a J.P. Morgan representative to learn more.)
Payable and Receivables Management
- Over-the-Counter Services: Available at Seoul branch in KRW.
- High-Value Electronic Payments and Receipts: Pay and receive in KRW via direct access with BOK-Wire. Pay and receive in foreign currency within Korea or through SWIFT for settlement abroad.
- Low-Value Electronic Payments and Receipts: Pay and receive in KRW via KFTC. J.P. Morgan intends to add a direct debit capability through its membership with the KFTC.
- Foreign Exchange: KRW spots and foreign currency-to-foreign currency onshore conversion./li>
- Paper Payments and Receipts: A comprehensive solution and coverage for paper instruments (Managers checks).
- Foreign Currency Payments: Pay to and receive payment from offshore beneficiaries in multiple currencies.
- PaySourceSM: Host-to-host connectivity to process bulk files for both local and foreign currency payments, supporting several industry standard formats as well as English and local languages.
Liquidity Management
- Interest-bearing Accounts
- Time Deposits: Term funding for clients with longer-dated liquidity.
- Concentration: Physical concentration structures are available.
- Working Capital Facilities: Overdrafts are available.
Trade Services
J.P. Morgan offers trade services in KRW and foreign currencies to Korea-based clients in addition to our cash management offering. Trade services include:
- Classical Trade: Issue, advise, confirm and negotiate letters of credit (LC), back-to-back LCs, import & export loans, standby LC and guarantee, bills purchase and supply chain financing.
- Structured Trade Finance: Provide Export Credit Agency (ECA) financing, export financing, syndicated trade facilities and discount payment obligations.
- Global Supply Chain: Realize operational improvements with supply chain driven trade solutions to facilitate procurement to pay inclusive of process insourcing and vendor financing.
Escrow Services
J.P. Morgan offers a full offering of escrow services for attorneys, accountants and other financial professionals involved in mergers & acquisitions, litigation, capital raising or other transactions that require escrow strategies.
Learn more about Treasury Services globally, or contact us to discuss your treasury management needs.
* Treasury & Securities Services are provided under JPMorgan Chase Bank, N.A., Seoul Branch