"'Train to Busan' Labor-Management Conflict: Korea Development Bank Supports Regional Era Success through Southeast Region Development"

Amid escalating labor-management conflicts over the plan to relocate to Busan, the Korea Development Bank (KDB) announced on the 30th that it is taking the lead in realizing a successful local era after expanding and reorganizing its Southeast region (Busan, Ulsan, Gyeongnam) related organizations.

Earlier this year, KDB moved its 'Regional Growth Division,' which oversees domestic branch operations, to Busan to strengthen close-knit local economic revitalization functions, and newly established the 'Southeast Investment Finance Center' and the 'Marine Industry Finance Division 2' to expand and reorganize related organizations.

According to KDB, based on the strengthened organization and combined investment and loan finance (CIB) capabilities, it is building region-specific financial infrastructure and focusing on the low-carbon and smart transformation of traditional local industries and fostering new industries through close cooperation with the private sector and local governments.

The Southeast Investment Finance Center launched 'V:Launch,' a Southeast region-specific venture platform, leading the creation of a venture investment ecosystem in the Southeast region and spreading entrepreneurial enthusiasm within the area.

KDB plans to actively play a pioneering role in expanding investment infrastructure within the region by establishing a Southeast regional innovation fund with a total scale of 100 billion KRW in the second half of the year in collaboration with local governments and financial institutions, encouraging private financial institutions to participate in investments in innovative ventures and small and medium enterprises.

In addition, based in Busan, the hub of marine finance, KDB has strengthened marine-specialized financial services supporting innovation in marine logistics and the introduction of next-generation eco-friendly ships. Last year, it established a dedicated investment program for marine logistics infrastructure and created a dedicated next-generation ship finance team, driving the expansion of growth engines in the marine industry, the bank said.

A KDB official stated, "Going forward, based on the broad financial capabilities held by KDB, we will actively perform roles to ensure that the Southeast region grows into one of the two major pillars of national growth alongside the metropolitan area."

[Image source=Yonhap News]

Meanwhile, labor-management conflicts continue over KDB's headquarters relocation to Busan. According to the KDB labor union, a survey showed that 98.5% of employees oppose the forced relocation to Busan without feasibility review. In response to the company's Busan relocation consulting, the KDB labor union conducted a research project to review the feasibility of the Busan relocation and plans to disclose the contents on the 31st.

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