The Ministry of Land, Infrastructure and Transport said Minister Kim Yun-duk attended the opening ceremony for the newly opened "KB Financial Town" in the innovation city of Jeonju, North Jeolla, on the morning of the 8th.
The event was attended by the Minister, North Jeolla Gov. Lee Won-taeg, Jeonju Mayor Cho Ji-hoon, KB Financial Group Chairman Yang Jong-hee, and National Pension Service (NPS) Chairman Kim Sung-joo.
The newly established North Jeolla KB Financial Town is a space where the group's core financial affiliates, including KB Kookmin Bank, KB Securities, and KB Asset Management, are gathered in one place. After the National Pension Service moved to Jeonju in 2015, it stands out as one of the first cases in which a large private-sector financial company built a large-scale regional hub office. Going forward, about 350 financial professionals will be stationed here to handle core tasks dedicated to strengthening linkage projects with the National Pension Service and enhancing the region's financial competitiveness.
There has been a steady view that the accompanying entry of private asset management companies is essential to maximize the effects of the National Pension Service's transfer and revive the local economy. In fact, after KB Financial Group fleshed out its plan to build the town in January, domestic financial institutions such as Woori and Shinhan, as well as global asset managers like Allianz and BlackRock, set up offices in succession to collaborate with the National Pension Service.
Minister Kim Yun-duk said, "The transfer of public institutions is encouraging the accompanying transfer of private companies and playing a major role in revitalizing regional economies," adding, "In the second-phase public institution transfer policy that will get into full swing in the second half, we plan to focus on regional industrial competitiveness based on the five hubs and three specialties strategy."
She added, "We will boost synergies by attracting related corporations and actively improve living conditions to make the innovation city a competitive city where corporations and young people gather."