Park Sangjin, KDB Chairman: "Additional Approvals for National Growth Fund If Needed"

Korea Development Bank Reports Business Plans to Financial Services Commission

Park Sangjin, Chairman of Korea Development Bank, stated regarding the National Growth Fund, which will provide 150 trillion won in support for advanced strategic industries over five years, "Our goal is to approve 30 trillion won this year, but if the industry requires more, we will consider additional approvals."

On the afternoon of January 13, during the 'Public Institution Work Report under the Financial Services Commission' held at the annex of the Government Complex Seoul, Chairman Park said, "The industry is supportive of the fund initiative, and investment demand has already exceeded 150 trillion won."

When Lee Eogwon, Vice Chairman of the Financial Services Commission, emphasized the importance of a discerning eye in selecting projects, Chairman Park responded, "Among domestic financial institutions, Korea Development Bank has the highest level of understanding of the industry, and I can say that with confidence." Vice Chairman Lee then requested, "It is also important to secure diverse perspectives, so please make use of external experts."

Chairman Park explained, "We have established a fund secretariat and hired external experts, and financial institutions will conduct their own screening processes. We are also improving our performance evaluation system to provide motivation for achievement."

Yonhap News Agency

He also outlined measures to strengthen investment in companies that have completed IPOs. Chairman Park said, "Korea Development Bank has not previously invested in companies after their IPOs, but moving forward, there may be cases where companies that have gone public still pass through a 'death valley'-a period where only development and operating costs are incurred without generating profits. Therefore, I believe it would be beneficial to actively promote investment in such companies."

For balanced regional development, he added, "In addition to the Southeast Investment Center currently established in the Busan-Ulsan-Gyeongnam region, we plan to set up an investment center in Gwangju in the second half of this year, and we are also pursuing the establishment of a Central Region Investment Center in the Chungcheong area."

Meanwhile, Korea Development Bank reported its work plan to the Financial Services Commission to supply 250 trillion won in policy funds from this year through 2030. Specifically, the bank will focus on the National Growth Fund (25 trillion won), strengthening competitiveness in advanced future strategic industries (100 trillion won), expanding regional finance (75 trillion won), and green energy transition (50 trillion won). For example, to enhance the competitiveness of future industries, 25 trillion won in support funds will be allocated for the AI transformation, investing in the AI value chain and AI transformation (AX). To expand regional finance, the bank plans to establish policy finance platforms by region, including a Central Region Policy Finance Platform in Cheonan, South Chungcheong Province.

Chairman Park pledged to normalize KDB Life Insurance, stating, "We will pursue structural improvement." He added, "Regarding the case of Myeongnyundang's lending business mentioned during the National Assembly audit, we will strictly manage post-operations and strive to prevent similar cases in the future."