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Korea Development Bank Union: 97% Oppose Relocation... 'Dual-Income' Main Reason Relocation is Difficult


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▲ The heads of three major policy bank unions chanting slogans

The Korea Development Bank (KDB) labor union revealed that approximately 97% of responding employees opposed the relocation of its headquarters in a recent survey conducted after discussions on the second phase of relocating public institutions to regional areas gained momentum.

Younger employees showed a high intention to change jobs or resign, and the most common reason making relocation difficult was having a "dual-income" household.

According to the financial sector today (September 30), out of 1,986 respondents in the KDB union's internal intranet survey conducted from September 14 to 18, 97.4% expressed opposition to the headquarters relocation.

Those in favor accounted for 1.1%, while other opinions stood at 1.5%.

When asked about their willingness to work at the headquarters if it is relocated, 82.7% answered that they would "not prefer" it.

The ratio was 57% for Grade 1 employees, but rose to the 80% range for Grade 3 and below, showing a higher rate among lower-ranking employees.

Regarding the willingness to relocate to the region if the headquarters is moved, 86.2% expressed negative views, with 75.7% answering "very low."

The most frequently cited reasons for the difficulty in relocating were "dual-income households" (43.8%), followed by "living environment" (39.4%), "family care" (23.3%), "children's education" (22.5%), and "housing costs" (11.3%).

Respondents could choose up to two overlapping answers for this question.

The percentage of respondents who said they would relocate with their families in the event of a move was a mere 2.3%.

Meanwhile, 57.4% of respondents, including 34.9% who said "very high," expressed an intention to change jobs or resign if the headquarters is relocated, while 29.6% answered that it was "still difficult to judge."

The lower the job grade, the stronger the intention to change jobs or resign.

Among Grade 1 employees, those who answered that their intention to change jobs or resign upon relocation was "very high" or "high" each stood at 4%, whereas among Grade 5 employees, the figures were 50% and 27%, respectively.

Among working-level employees in their 40s or younger, 69.9% expressed an intention to change jobs or resign in the event of a relocation.

The most common reason for changing jobs or resigning was "housing issues" at 31.1%, closely followed by "dual-income households" at 28.2%.

Respondents could select up to three overlapping answers for this category.

Regarding the impact of the headquarters relocation on securing and retaining professional talent, 98.4% of respondents answered that it would "weaken."

As for the impact on KDB's policy finance execution capabilities, 97.1% believed it would "weaken," and 96.5% thought the competitiveness of the financial industry would "weaken."

Furthermore, 96.1% answered that trust in the government would decline.

(Photo: Yonhap News)

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Lee Tae-gwon View More Articles
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