Saneun Chairman Dong-geol Lee: "Oppose Adding Employment Stability to Saneun Act... Restructuring Becomes Difficult"

[Asia Economy Reporter Kangwook Cho] Lee Dong-geol, Chairman of the Korea Development Bank (KDB), expressed opposition on the 12th to the proposed amendment to the Korea Development Bank Act that would add 'employment stability and promotion' to the bank's founding purpose.

At an online press conference held that day, Chairman Lee said regarding the recently submitted amendment to the KDB Act, "If employment stability is fixed in place, restructuring becomes difficult," adding, "In-depth discussion is necessary."

Earlier, 17 members of the National Assembly, including Yang Yi-won-young of the Democratic Party and a member of the Environment and Labor Committee, recently proposed a partial amendment to the Korea Development Bank Act to add 'employment stability and promotion' to the bank's founding purpose.

Regarding this, he explained, "When promoting restructuring, sharing the pain among key stakeholders is essential," and added, "If employment stability is unilaterally included in the KDB Act and the bill on employment stability and promotion is misunderstood as an employment obligation, it becomes considerably difficult."

Chairman Lee stated, "When promoting restructuring, there is the issue of whether to view it from a macro or micro perspective, a short-term or long-term perspective, and whose money is used for support?in other words, the efficient allocation of limited resources."

He then pointed out, "If viewed from a micro and short-term perspective at the enterprise level, and from a biased perspective that it is done with the people's money, nationalization is the only answer," adding, "In that case, the conclusion is not to do it."

Chairman Lee said, "We need to look broadly and long-term, and consider what is best for the national economy," concluding, "This bill requires in-depth discussion."

This content was produced with the assistance of AI translation services.