KDB chief inauguration ceremony goes ahead amid union protests

Korea Development Bank (KDB) Chairman Kang Seog-hoon speaks during his inauguration ceremony held at the headquarters of the state-run bank on Yeouido, Seoul, Tuesday. Courtesy of KDB

By Anna J. Park

Two weeks after being appointed to head state-run Korea Development Bank (KDB), Chairman Kang Seog-hoon finally held a delayed inauguration ceremony on Tuesday, vowing to communicate closely with the bank's workers regarding a government-led relocation plan to Busan.

Unionized workers of the bank had been blocking the new chairman from entering the bank headquarters since his appointment, urging the Yoon administration to scrap the previously devised relocation plan for the bank's headquarters to the southeastern city.
Due to the strong protest, the new chief had so far been working at a separate office outside of the bank headquarters. Tuesday was the first day that he entered the bank headquarters, despite the ongoing protests by the unionized workers.

Korea Development Bank (KDB) Chairman Kang Seog-hoon, center, enters the headquarters of the state-run bank located on Yeouido, Seoul, as unionized workers of the bank lie down on the floor in protest, Tuesday. Courtesy of KDB Labor Union

In a speech during the ceremony, Kang called on the bank to grow into a stepping stone of the national economy's innovative growth, as well as a national think tank and global-minded bank.

"In order to overcome the current challenges faced by the economy, a completely new paradigm is required for the country to leap forward," Kang said during the ceremony. "The bank will assume a dual role of leading the industrial transformation into green, digital and bio sectors, while being a loyal market stabilizer."

In a separate message sent to bank employees, he also vowed to form a communication committee, for management and union members to discuss the bank relocation plan, along with other issues.

Kang kicked off his official tasks as the bank's new leader by holding an emergency management meeting on the day, while he also plans to set up a vision committee to strengthen the bank's competitiveness.

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