Citi has taken the top spot in South Korea's investment banking rankings as strong debt and equity issuance continues, with the bank expecting heavy deal volume to extend into the second half of the year, Citigroup Global Markets Korea (CGMK) announced on August 26, The Korea Herald reports.

According to data from Dealogic, CGMK leads the South Korea Investment Banking Wallet League table with a 16% market share.

The surge in market share underlines how South Korea's bluechips are bypassing local exchanges to tap international capital markets, turning global investment banks into essential partners for Asia’s ongoing tech expansion.

During the year to date, Citi has arranged $60bn in funding for South Korean clients across international equity and bond markets. The performance puts CGMK on course for a record financial year after executing 40 separate transactions, an average of more than one deal a week.

The lender's standout transaction was acting as lead manager for SK hynix’s (000660.KS) $26.5bn IPO in the US. The float stands as the largest foreign IPO in American market history, as well as the biggest equity deal originating from an Asian market.

Looking ahead, Citi maintains a heavy pipeline of upcoming transactions. It expects sustained cross-border M&A activity across key sectors such as technology, consumer, and healthcare.

“Korea is one of Citi's key markets globally. It is home to a growing class of world-class corporates and emerging champions who are increasingly using capital markets at competitive levels to fund growth ambitions,” said CGMK CEO Park Jang-ho.

Park added that domestic companies are stepping up global expansion and frequently turning to the bank's international footprint for strategic funding and advisory work.