[Exclusive] "This Time, It's for Real" Poongsan to Relocate Headquarters to Regional Area... Supporting Balanced National Development

Deputy Prime Minister Koo: "Chairman Ryu has conveyed his intention to proceed"

Chairman Ryu: "This time, we really intend to make it happen"

Business community working on youth job creation and regional development

Poongsan Group is pursuing the relocation of its headquarters to a regional area in order to support the government's policy of balanced national development.

On April 29, at the aT Center in Yangjae-dong, Seoul, during the '2026 Korea Win-Win Employment Expo', Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol stated at the 'Public-Private Joint Youth New Deal Report Meeting', "Ryu Jin, Chairman of Poongsan Group, has announced his intention to promote the relocation of Poongsan's headquarters to a regional area." He added, "Although the presidents of the five major conglomerates are present at this event today, the business community is also making efforts to create quality youth jobs."

Currently, Poongsan Group's headquarters is located in Seodaemun-gu, Seoul. Poongsan operates business sites in regional areas such as Busan, Ulsan, and Gyeongju (Angang). Last year, the company announced its plan to relocate its Busan plant, which is located in Haeundae-gu, Busan, to Gijang-gun. As Chairman of the Korea Economic Association, Ryu Jin is understood to be directly promoting the relocation of the headquarters in order to revitalize the local economy.

Ryu Jin, Chairman of Poongsan (Chairman of the Korea Economic Association), and Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol are speaking at the 'Public-Private Joint Youth New Deal Report Meeting' held on the 29th at the aT Center in Yangjae-dong, Seoul, during the '2026 Korea Win-Win Employment Expo'. Photo by Jin-Young Kim.

Previously, Chairman Ryu had directly emphasized the need for companies to relocate to regional areas. At a press conference during the 'Korea Economic Association Jeju Summer Forum' held at a restaurant in Jeju in July last year, he stated regarding attracting companies to regional areas, "Companies will not consider relocating their headquarters to regional areas unless there are significant benefits and incentives," and expressed his intention for the Korea Economic Association to make efforts for such relocations. At the time, Ryu stated, "This time, it's not just talk. We really intend to make it happen."

The Korea Economic Association has also been making efforts to boost local economies, such as proposing the 'K-Vacance' campaign last year, encouraging major companies to spend their vacations domestically. This year as well, the association sent an official letter to member companies the previous day, promoting the 'Five Key Action Items' to encourage employees to use their annual leave and to travel domestically during vacations.

Meanwhile, the public-private joint Youth New Deal Report Meeting was attended by Deputy Prime Minister Koo, Chairman Ryu, and representatives from the five major conglomerates (Samsung, Hyundai Motor, LG, SK, and Hanwha). At the meeting, the government, business community, and young people gathered to discuss ways to expand youth employment and announced plans for the Youth New Deal initiative.

Regarding the headquarters relocation initiative, a Poongsan representative stated, "We are currently reviewing the matter from various angles, and there are no concrete plans in place yet," adding, "We are in the process of verifying the statements made at the event."

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