Busan National University President Choi Jaewon Joins 'KDB Relocation to Busan Challenge'

KDB Relocation to Busan Essential for Becoming a Financial Hub

Choi Jaewon, President of Pusan National University, participated in the 'KDB Relocation to Busan Challenge' on the 25th.

Choi Jaewon, President of Pusan National University, is participating in the "KDB Busan Relocation Challenge."

For Busan to become a true financial hub of Northeast Asia, it is essential for the Korea Development Bank (KDB), a state-run bank, to relocate to Busan.

According to Article 4, Paragraph 1 of the current 'Korea Development Bank Act (KDB Act)', "The Korea Development Bank shall have its headquarters in Seoul Special City." Therefore, an amendment to the KDB Act must be made in advance for the relocation of the bank to Busan. The 'Partial Amendment to the Korea Development Bank Act' was proposed by Park Sooyoung, a member of the People Power Party, and was submitted to the National Assembly's Political Affairs Committee on August 26, where it is currently under review.

The 'KDB Relocation to Busan Challenge' related to this issue began last July and has seen participation from various sectors, including politics, academia, and civic groups.

By joining the challenge, President Choi Jaewon stated, "For outstanding talents in the financial industry to settle in the region, and for the financial industry, a high value-added sector, as well as balanced national development, the relocation of KDB to Busan is absolutely necessary. As a national flagship university, the Graduate School of Finance at Pusan National University will continue to produce leaders in the global financial industry who can enhance flexibility and feasibility in a rapidly changing economic environment. Let us create a more vibrant and stronger Busan and realize the cause of balanced national development through the relocation of KDB to Busan."

The post was uploaded that day to the official Facebook and Instagram accounts of Pusan National University, with hashtags such as #KDB_BusanRelocation, #RepublicofKorea, and #BalancedDevelopment.

President Choi Jaewon recommended Jung Sungwoon, Director of Pusan National University Hospital, as the next participant in the challenge.