Financial Services Commission Chairman: 'Relocation of Korea Development Bank to Busan to Be Decided by National Assembly'

Financial Services Commission Chairman Lee Eok-won stated today (the 22nd) regarding the relocation of the Korea Development Bank (KDB) to Busan that it is "a matter to be decided by the National Assembly."

During the comprehensive parliamentary audit by the National Policy Committee of the National Assembly on this day, Chairman Lee responded to a question from People Power Party lawmaker Park Sung-hoon (Buk-gu Eul, Busan), who asked, "What is the government's official stance on relocating the KDB headquarters to Busan?", by saying, "I understand that as it was being pursued, it was sorted out in the National Assembly so that it would not be done."

In response to lawmaker Park's repeated question asking, "Are you pushing for the relocation of the KDB headquarters to Busan?", Chairman Lee answered to the effect that "I understand the relocation issue was settled early on."

In the session that resumed afterward, when lawmaker Park demanded an explanation, stating, "There has been no attempt in the National Assembly to scrap the relocation of the Korea Development Bank to Busan," Lee replied, "It will be decided by the National Assembly and the authority lies with the National Assembly."

This is interpreted to mean that the issue rests with the National Assembly, as the current Korea Development Bank Act, which mandates that the headquarters of the KDB be located in Seoul, must be revised.

The relocation of KDB to Busan was pursued under the Yoon Suk Yeol administration as well, but it fell through as employees strongly protested and the revision bill for the Korea Development Bank Act failed to be processed.

Lawmaker Park pointed out, "Prior to discussing the addition of a third financial hub, we must first come up with measures to substantiate the existing Busan financial hub, including the relocation of the Korea Development Bank," adding, "Given that the essence of the financial industry is the agglomeration effect, clear selection and concentration are necessary."

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.