Lee Jae Myung, the Democratic Party presidential candidate, pledged on the 1st to establish the Southeast Investment Bank (tentative name) in Busan, the maritime capital.
On this day, through his Facebook page, Lee stated, "In order to foster the future industries of Busan, Ulsan, and South Gyeongsang Province and to revitalize the regional economy, it is urgent to establish a regionally tailored financial support system."
He explained, "As the industrial structure is being reorganized and the global industrial environment is rapidly changing, competitiveness in the global market is weakening. Regional companies are facing difficulties in raising funds and attracting investment due to the concentration of financial infrastructure in the Seoul metropolitan area."
He continued, "I will push for the establishment of the Southeast Investment Bank to restore the competitiveness of industries in Busan, Ulsan, and South Gyeongsang Province and to drive sustainable growth. By operating large-scale policy funds, we will invest in and provide loans to key industries such as shipbuilding, automobiles, parts and materials, and renewable energy, and take responsibility for fostering industries and building infrastructure."
Lee Jae Myung, the Democratic Party presidential candidate, is campaigning in Gwanak, Geumcheon, and Dongjak districts at Gwanaksan Eutteum Park in Gwanak-gu, Seoul on the 29th. 2025.5.29 Photo by Kim Hyun Min
Lee added, "The Southeast Investment Bank will be a regionally based policy financial institution essential for the creation of a megacity, which is at the core of the national balanced development strategy of five major axes and three special zones. Based on national support and regional cooperation, we will supplement the financial functions of Busan, Ulsan, South Gyeongsang Province, and the southeastern region, and lead innovation in the regional industrial economy."
He also said, "The initial capital of about 3 trillion won will be jointly funded by the central government, local governments, Korea Development Bank, Industrial Bank of Korea, and Export-Import Bank of Korea." Lee explained, "Through maritime finance, we will support the Arctic route, and through industrial finance, we will lead the major industrial transformation of the southeastern manufacturing belt, establishing the bank as a national policy bank that drives a virtuous cycle in the regional economy."
He further stated, "The establishment of the Southeast Investment Bank is a realistic plan that was also considered by former ruling party officials. The Southeast Investment Bank, to be established in Busan, the maritime capital, will go beyond the repeated and unproductive debate over relocating the Korea Development Bank, and will provide practical support for maritime and industrial finance as well as create more jobs for young people."
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