Park Sangjin, KDB Chairman: "National Growth Fund Incentives for Companies Relocating Outside the Seoul Metropolitan Area" [2026 Parliamentary Audit]
Expansion of support for small and venture businesses
Move to streamline approval process through expedited review
Park Sangjin, chairman of the Korea Development Bank, said on October 22 that the bank would consider offering incentives to companies that relocate outside the Seoul metropolitan area when providing support through the National Growth Fund.
At a parliamentary audit of the financial sector by the National Assembly’s Political Affairs Committee that day, Chairman Park responded to a proposal by Kang Jun-hyeon of the Democratic Party of Korea to offer incentives to companies relocating outside the Seoul metropolitan area, saying, “We will actively review that and work to establish a system.”
He also expressed his commitment to expanding support for small and venture businesses.
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“I fully agree with the need to support small and venture businesses,” Chairman Park said. “We plan to establish a fund worth KRW 10 trillion this year in the form of indirect investment” related to investment in venture businesses. He added, “In addition to this support, we will also consider simplifying the approval process by applying an expedited review system for small and venture businesses.”
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