“Relocating Korea Development Bank to Busan? Yoon Seok-yeol who doesn’t understand the role”

▲ KDB Korea Development Bank Branch

KDB Industrial Bank workers condemned Yoon Seok-yeol, the People’s Power presidential candidate, who said he would relocate Korea Development Bank to Busan.

The KDB branch of the financial union (Chairman Yoon-seung Cho) of the financial union has been holding a one-man protest in front of the People’s Power Company in Yeongdeungpo-gu since the 19th after Yoon’s remarks were made public, and criticized him for pouring out remarks without worrying about the country.

Candidate Yoon visited Busan on the 15th and announced, “I will amend the Korea Development Bank Act and move the Korea Development Bank from Yeouido to Busan.” He said, “If Busan is to develop into the world’s best maritime city and a high-tech city, it must be supported by financial resources.”

Then, in an interview with the Korea Regional Newspaper Association, which is comprised of local media outlets in Busan, on the 24th, Candidate Yoon had an interview at the candidate’s office and said, “Busan, Ulsan, and Gyeongnam have shipbuilding businesses, which are major trading companies of Korea Development Bank. Its international financial function will make a great contribution.” This means that Korea Development Bank has repeatedly expressed its will to relocate to Busan.

The branch strongly opposes it. In a statement on the 18th, the branch said, “The Korea Development Bank plays a role in resolving the financial gap between the metropolitan area and the provincial area by collecting surplus funds from Seoul and the metropolitan area and redistributing them to the provinces. It is necessary to give up funds to support balanced regional development.” It is that Candidate Yoon does not understand the role of Korea Development Bank.

The branch emphasized, “The move of the Korea Development Bank to Busan is directly related to the abandonment of the East Asian financial center policy.” The branch said, “What are we going to do by further weakening our internal financial competitiveness in a situation where (Seoul) has not yet established itself as the financial center of East Asia despite the so-called HEXIT, where financial institutions move due to political unrest in Hong Kong?” “Is it what the first opposition party should do to gamble with the future of the country as collateral for only certain regional votes?”


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