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Korn ChatikavanijFormer banker and investment professional; current finance minister of Thailand
Date of Birth: 19.02.1964
Country:  Thailand |
Content:
- Biography of Korn Chatikavanij
- Banking and Investment Career
- Political Career
- Financial Minister and Economic Recovery
- Economic Achievements
Biography of Korn Chatikavanij
Early Life and EducationKorn Chatikavanij was born into a wealthy Thai family, the Kraisri and Rumpa Chatikavanij, in the United Kingdom. His father held several prominent positions, including Commissioner of the Customs Department and Commissioner of the Revenue Department. His grandfather, Phraya Athikarnprakat, served as a police commissioner and was a member of King Prajadhipok's private council. Korn attended school in Bangkok until the sixth grade before moving to the United Kingdom. He studied at Winchester College and later attended St John's College, where he focused on politics, philosophy, and economics. Korn graduated with honors, and one of his classmates at the time was Abhisit Vejjajiva, the future prime minister of Thailand.
Banking and Investment Career
While still a student, Korn worked at the asset management division of the investment bank Warburg. After completing his studies, he continued working at the bank. In 1988, Korn left the bank and traveled to Thailand, where he founded the joint venture "J.F. Thanakorn," closely associated with the groups Jardine Flemings and Finance One. By the mid-1990s, this venture had become the largest brokerage organization in Thailand and later became the country's first investment bank to undergo public trading. In 1999, JP Morgan acquired the company, but Korn remained as the CEO until October 2004, when he decided to pursue a career in politics.
Political Career
Soon after leaving his banking career, Korn successfully secured a seat in parliament representing the country's second electoral district. After the defeat of the Democrats in the subsequent elections, he became the deputy secretary-general and secretary for economic affairs under the leadership of Abhisit Vejjajiva, who became the prime minister. During this time, Korn actively participated in economic projects under the government of Prime Minister Thaksin Shinawatra, including investigations into the scandal involving the "Shin" corporation.
Financial Minister and Economic Recovery
Following the overthrow of the Thai government in September 2006, Korn expressed his disappointment in such acts of rebellion and emphasized the importance of upholding democracy. In the 2007 elections, Korn was re-elected, but the Democrats remained in opposition as the People's Power Party came to power. Under the premierships of Samak Sundaravej and Somchai Wongsawat, Korn served as the Minister of Finance. In December 2008, the Constitutional Court dissolved the People's Power Party, and Abhisit Vejjajiva became the new prime minister. In December 2009, Korn was appointed as the Minister of Finance once again.
Economic Achievements
Korn's actions as Minister of Finance played a significant role in pulling the Thai economy out of crisis and navigating through the global financial crisis of 2008-2009. He successfully allocated substantial funds for the development of education, healthcare, and tourism in the country. Korn Chatikavanij's leadership and expertise in banking and investments have made him a respected figure in both the business and political spheres in Thailand.
