The Korea Times
A renewed push by politicians to relocate the headquarters of the state-run Industrial Bank of Korea (IBK) to the southeastern city of Daegu is raising concerns among bank employees, labor union officials said Thursday. The proposal has gained traction across party lines ahead of the June 3 local elections, as candidates in Daegu seek to appeal to voters with pledges to bring the bank's headquarters to the city. IBK, a major lender to small and medium-sized enterprises (SMEs), is currently headquartered in Seoul's Jung District and plays a key role in implementing government-backed financing programs. Kim Boo-kyum, a former prime minister and Daegu mayoral candidate from the ruling Democratic Party of Korea, has floated the relocation as a key campaign pledge. In a recent media interview, Kim said, "There are about 3,000 SMEs in Daegu. Since IBK was launched to support these businesses, it makes sense for it to be headquartered here." Similar calls have long been made by members of the main opposition People Power Party (PPP), which has traditionally enjoyed strong support in the city. Rep
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