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Korea Development Bank Union Urges Chairman Park Sang-jin to Oppose Relocation Outside Seoul

Lee Seong-hoon

Published : Aug 18, 2026 5:18 PM


▲ Union members of the Korea Development Bank, Industrial Bank of Korea, and The Export-Import Bank of Korea chant slogans during a joint rally held in front of the KDB headquarters in Yeouido, Seoul, on the 11th, opposing the relocation of public institutions to regional areas.

The labor union of the Korea Development Bank (KDB), which has been mentioned as a candidate for relocation to a regional area, has urged Chairman Park Sang-jin to "clearly state his opposition to the relocation of the headquarters as the head of KDB and take direct action to protect the organization and its employees."

In a statement issued under the name of the union leader today (August 18), the KDB union stated, "At a time when the role of KDB is more crucial than ever, the organization and its professional workforce must not be shaken again by controversies over the relocation of the headquarters."

The union urged Chairman Park, saying, "If your judgment and convictions from your first day in office remain unchanged, you must now prove them through actions rather than words," adding, "We hope you will proudly represent KDB's position to the government."

The union noted that during an internal meeting on his first day in office in September of last year, Chairman Park said, "Would moving finance to Busan increase the contribution to national industrial development? I do not think so. I have even expressed the opinion that Seoul is the right place."

The union emphasized to Chairman Park, "Directly convey to the president and the government your position that KDB should be excluded from the second round of public institution relocations," and "actively explain and persuade the government on the impact that the headquarters relocation would have on the National Growth Fund, support for national strategic industries, organizational stability, and professional manpower."

The union warned that if the relocation is forced through, "We will review all available means, including rallies, external struggles, and a general strike, and launch an all-out struggle to block the relocation of the headquarters."

During the previous administration, the push to relocate KDB to Busan was ultimately thwarted following intense union struggles, but the bank suffered severe aftereffects, including a drain of talent and deepening internal conflict.

(Photo: Yonhap News)