Kim Moon-soo, the People Power Party presidential candidate, visited Busan on the 13th to appeal for support from the local community, saying he would request the National Assembly to prioritize the passage of legislation related to the long-delayed transfer of the Industrial Bank of Korea to Busan.
That afternoon, Kim visited the Busan International Finance Center (BIFC) site in the Nam-gu district of Busan and said, "I don't understand why they are telling the presidential office, the National Assembly, and the Supreme Court to move (out of Seoul) but cannot transfer the Industrial Bank of Korea." He added, "When I become president and the National Assembly is opened, I will request the bill for the transfer of the Industrial Bank to Busan first."
Kim said, "Other institutions like KEPCO have all been moved. The Industrial Bank's role in policy finance means there is no major issue in transferring it to Busan or elsewhere, unlike commercial banks."
He continued, "While moving the presidential office or National Assembly involves constitutional controversies related to the relocation of the capital, there is no such controversy regarding the transfer of the Industrial Bank. It's much easier and simpler since the land is available and policy decisions have been made. We just need to get the law passed."
He stated that once he becomes president and the National Assembly convenes, he would first request the Democratic Party of Korea and promised, "I will talk to the Democratic Party and persuade them."
Kim also noted that he would accelerate the enactment of the Busan Global Hub City Special Act and expand support for it.
He remarked, "Busan is a gateway and door to the continent from the Pacific region, and it needs to become a hub city not just for logistics but in finance, digital advanced fields, education, culture and tourism, and living environment as well."
He added, "To grow Busan as a global hub city, we need to alleviate regulations through various laws. If I become president, within a month, I will transfer 100% of the management rights, release rights, and development rights of the greenbelt that occupies 30% of Busan's urban area to the mayor of Busan." He also promised support for establishing startup support centers at local universities in Busan and aggressive support and deregulation for attracting corporations.
The amendment of the Korea Development Bank Act for the 'transfer of the Industrial Bank headquarters to Busan' is a campaign promise of former President Yoon Suk-yeol. The People Power Party and the Yoon Suk-yeol administration have worked towards legislation, but efforts were thwarted due to opposition from the Industrial Bank union and the opposition parties. Cooperation from the Democratic Party of Korea, which holds the majority in the National Assembly, is essential for the amendment to pass.