Korea Development Bank “head office to Busan”… Union “Movement to Resign Directors”

Reorganization of the Southeast region at today’s board meeting
“Chairman Kang, who assisted me, is loyal to the government”
“Raising the board of directors to the burden of previous responsibilities”

▲ Kang Seok-hun, Chairman of Korea Development Bank
yunhap news

Korea Development Bank Chairman Kang Seok-hoon, known as President Yoon Seok-yeol’s economics teacher, launched a strong campaign to relocate to other provinces, which was a promise of President Yoon’s presidential election, along with organizational reorganization to strengthen the southeastern region centered on Busan.

According to the financial sector on the 28th, the KDB board of directors led by Chairman Kang will pass a reorganization plan to increase the sales organization in the southeastern region on the 29th. According to the reorganization plan, the current small and medium-sized financial sector and Busan and Gyeongnam Regional Headquarters will be renamed Regional Growth Department and Southeast Regional Headquarters, respectively, and two new maritime industry finance divisions will be established under the Maritime Industry Finance Headquarters. The total number of people in the southeastern region will increase by 54 from 153 to 207.

Chairman Kang, who also served as the 19th member of the National Assembly in the Saenuri Party, the predecessor of the ruling party, served as senior secretary for economic affairs in the Park Geun-hye administration. In the 20th presidential election, he assisted then-candidate President Yoon at close range and was in charge of economic policy advice and development of pledges.

Chairman Kang is showing a willingness to carry through, saying that the relocation to the provinces is a matter decided by the government. Previously, in August, President Yoon emphasized again, “The KDB should relocate to the Bu-Ul-Gyeong (Busan, Ulsan, and Gyeongnam) regions and play an essential role in the path of maritime urbanization, logistics urbanization, and high-tech science industry urbanization.” are paying At a press conference on the 100th day of his inauguration in September, Chairman Kang made a statement to the effect that the relocation of the head office to Busan was irreversible, and at a parliamentary audit last month, he said that he would directly visit and persuade the National Assembly.

However, regarding the fact that the reorganization plan to strengthen the southeast region is on the agenda of the board of directors, there are two interpretations: Chairman Kang is trying to show his loyalty to the government and that he is trying to disperse responsibilities.

An official from the financial sector said, “Chairman Kang raised matters that could be paid directly to the board of directors,” and “it is burdensome to take responsibility for the relocation of the head office alone.”

In fact, the opposition from the employees is strong. Cho Yoon-seung, chairman of the KDB union, held a press conference in front of the KDB headquarters in Yeongdeungpo-gu, Seoul, and said, “If Chairman Kang tries to enforce the resolution of the board of directors, the union will sue and accuse all inside and outside directors of breach of trust and abuse of power and campaign for their resignation. ” he bluffed. The union expects that the management will announce regular personnel appointments early next month and assign around 100 employees to the southeastern region in January next year. At the press conference, opposition politicians such as Seo Yeong-gyo, top member of the Democratic Party of Korea, and lawmakers Kim Min-seok and Lee Su-jin attended and supported the union.

Meanwhile, the Korea Development Bank (KDB) announced on the same day that it will resume the sale of KDB Life Insurance. The basic plan is to sell the entire 92.7% stake in KDB Life Insurance owned by KDB Consus Value PEF, a private equity fund jointly established by Korea Development Bank and Consus Asset Management.

Reporter Hwang In-joo

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