Seoyoungkyo: "Mountains, legally should be in Seoul... Relocation must be discussed with the National Assembly"

Seo Young-kyo, a Supreme Council Member of the Democratic Party of Korea, said on the 27th regarding the relocation of the Korea Development Bank (KDB) to Busan, "President Yoon Seok-yeol must consult with the National Assembly."

At the Democratic Party Supreme Council meeting held at the National Assembly that day, Seo said, "Regarding KDB, President Yoon Seok-yeol is trying to relocate it to Busan."

He added, "The KDB Act states, 'The head office of KDB shall be located in Seoul Special City.' The global financial sector is in a severe crisis, and if they intend to relocate KDB during this crisis, they must consult with the National Assembly."

Seo emphasized, "If KDB is relocated, the law must be amended. They are trying to proceed arbitrarily without consulting the Assembly. Chairman Kang Seok-hoon of KDB is attempting to execute this by simply exercising management rights and resolutions, but there is the National Assembly."

Seo Young-kyo, Supreme Council Member of the Democratic Party of Korea, is speaking about 'President Yoon's offensive remarks' at the Supreme Council meeting held at the National Assembly on the 23rd. Photo by Yoon Dong-joo doso7@

He continued, "They should discuss this with the National Assembly," and warned, "I would like to caution that it must be discussed and decided in the National Assembly."

Currently, Article 4 of the KDB Act includes the clause, "The head office shall be located in Seoul Special City." In this regard, Seo Byung-soo of the People Power Party, and Kim Du-kwan and Song Ki-heon of the Democratic Party of Korea have each proposed bills to amend the KDB Act to allow the relocation of the KDB head office to Busan.

KDB has officially initiated administrative procedures for designation as a local relocation institution through reports to the National Assembly and other means. KDB plans to complete consulting on the "Plan to Strengthen KDB's Policy Finance Capabilities" by May, and after June, it will establish a relocation plan through processes including gathering opinions from executives and employees, reflecting consulting results, and conducting internal and external public discussions.