Kim Joo-hyun, Financial Services Commission Chairman, "No Plan to Transfer KDB's Prime Assets to Commercial Banks"

On the 20th, at the National Assembly's Political Affairs Committee full meeting,
"An idea reviewed at the working-level... Not a matter discussed at the executive level"

[Image source=Yonhap News]

[Asia Economy Reporter Sim Nayoung] On the 20th, Kim Juhyun, Chairman of the Financial Services Commission, stated that there are no plans to transfer the Korea Development Bank's prime assets to general commercial banks in relation to the bank's relocation to Busan.

At the plenary meeting of the National Assembly's Political Affairs Committee held that day, in response to a question from Oh Ki-hyung, a member of the Democratic Party of Korea, asking, "Is the Financial Services Commission internally reviewing a plan to transfer the prime loan assets of the policy bank to commercial banks?" Chairman Kim replied, "I have not been informed of such a matter, and it has never been discussed as a meaningful topic among the FSC executives."

Chairman Kim stated, "There is always talk about the need to change the role of policy financial institutions, and the national agenda includes reviewing measures to minimize conflicts between policy banks and the private sector," adding, "I understand that the transfer discussion has emerged as an idea at the working-level review stage."

He continued, "Personally, I think the working-level opinions are rough, but they are just from the staff, and it is the government's role to correct them during the approval process," and said, "If we consider legal issues or policy validity, this is a matter that must be discussed through many stages."

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