Busan City Holds 2nd Meeting of Public-Private-Government Cooperation Task Force for KDB Busan Relocation

April 15, 4:30 PM at City Hall, Attendance by Mayor, National Assembly Members, Business Community, and Civic Groups

Discussion on Prompt Amendment of Korea Development Bank Act and Support for Creating Residential Conditions for Executives and Emp

On the 15th at 4:30 PM, Busan City will hold the "2nd Meeting of the Industrial Bank of Korea (IBK) Busan Relocation Public-Private-Government Cooperation Task Force (TF)" at the City Hall Video Conference Room to discuss smooth relocation plans of IBK to Busan.

The "IBK Busan Relocation Public-Private-Government Cooperation Task Force (TF)" was launched on June 16 to establish bipartisan cooperation measures and jointly respond to the biggest issue of IBK's relocation to Busan, which is the amendment of the "Industrial Bank of Korea Act."

The task force includes representatives from various sectors such as Busan City, ruling and opposition members of the National Assembly, the business community, and civic groups.

In particular, this meeting will include participants from IBK in addition to the usual attendees, providing an opportunity to explain the current status and future plans for the IBK relocation.

About 10 participants are expected, including Mayor Park Hyung-jun, People Power Party National Assembly members Seo Byung-soo, Kim Do-eup, Kim Hee-gon, Jeong Dong-man, Park Soo-young, Democratic Party National Assembly members Park Jae-ho, Choi In-ho, Jeon Jae-soo, Jang In-hwa, Chairman of Busan Chamber of Commerce and Industry, Heo Hyun-do, Chairman of Busan-Ulsan Small and Medium Business Association, Park Jae-yul, Standing Representative of the Local Autonomy Balanced Development Busan Citizens' Coalition, Jo Yong-eon, Co-representative of Busan Federation of Civic Organizations, and Kim Bok-gyu, Executive Director of IBK.

The main agenda of this 2nd meeting includes the prompt amendment of the Industrial Bank of Korea Act and support for creating residential conditions for IBK employees. Participants plan to share the current progress and discuss joint response measures.

For IBK to relocate to Busan, it is essential to amend Article 4, Paragraph 1 of the Industrial Bank of Korea Act, which stipulates that the head office must be located in Seoul Special City. Currently, four ruling and opposition National Assembly members have proposed amendments, but the bill is pending in the Standing Committee on Economy and Finance.

This 2nd meeting will focus on discussing this issue intensively to devise ways to expedite the amendment of the law.

Additionally, discussions will continue regarding support measures to create favorable residential conditions for IBK employees to facilitate their smooth relocation.

Mayor Park Hyung-jun stated, "Since IBK was designated as a public institution relocating to Busan in May, efforts have been actively underway to fully transfer the head office organization and functions to Busan." He added, "Now, to amend the Industrial Bank of Korea Act, we will unite with ruling and opposition National Assembly members, the business community, and civic groups to fully commit to persuading the National Assembly and raising public awareness. I hope that today's meeting will accelerate discussions on amending the Industrial Bank of Korea Act."

Busan City Hall.

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