[2026 National Assembly Audit] Lee Eogweon clarifies remarks on Korea Development Bank's relocation to Busan: "I understand it is under discussion in the National Assembly"

Financial Services Commission Chairman Lee Eog-weon clarified his earlier remarks that it had been decided not to relocate the Korea Development Bank to Busan, saying the matter should be discussed and decided by the National Assembly. He said the question of whether to relocate the bank has not yet been settled and that the decision rests with the National Assembly.

Lee Eog-weon, chairman of the Financial Services Commission, answers lawmakers' questions during a comprehensive parliamentary audit of the Financial Services Commission and other agencies at the National Assembly on Oct. 22, 2026. Photo by Yoon Dongju

At a National Assembly Political Affairs Committee audit on October 22, Rep. Park Seong-hun of the People Power Party asked whether the government’s response on relocating the Korea Development Bank to Busan represented its official position. Lee replied, “I understand that it is probably being discussed in the National Assembly, and that is all I can say.” He went on to stress that the National Assembly has the authority to decide the matter.

Earlier, when Park asked whether the government would continue pursuing the relocation or had abandoned it, Lee responded to the effect that discussions in the National Assembly had concluded and that he understood the bank would not be relocated. Park then asked Lee in a follow-up question to clarify the meaning of his remarks and the government’s position.

Park countered that the relevant bill was merely pending in the National Assembly and that neither the ruling nor opposition parties had withdrawn or blocked the relocation. “There has been no attempt in the National Assembly to block the relocation of the Korea Development Bank to Busan,” he said, challenging Lee’s earlier response. He added that the remarks betrayed the expectations of residents in Busan, Ulsan and Gyeongsangnam-do.

Lee explained that he had made his earlier response as Park repeatedly questioned him. “What I understand is that the matter is under discussion in the National Assembly, and that is all I can say,” he said, reiterating that the National Assembly would decide whether the bank is relocated.

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