Korea Development Bank Chairman Lee Dong-geol, who recently expressed his resignation, repeatedly expressed his opposition to the relocation of Saneun to Busan, which was the presidential promise of President-elect Yoon Seok-yeol on the 2nd.
At a press conference held online on the same day, Chairman Lee said, “It is not a light matter, can we do it too quickly? re-emphasized the meaning.
Regarding ‘Theory of Balanced Regional Development’, which is the main basis for the previous move, he said, “The purpose of balanced regional development should be for the development of the whole country and it should be sustainable.” is focused on,” he pointed out. He even said, “Don’t try to take more away from others, and try to survive on your own.”
Chairman Lee dismissed the theory of the failure of KDB to restructure insolvent companies, as argued by some, saying, “11 companies have succeeded in restructuring.” He said, “It would be wrong to say that there was no restructuring because of the three cases, including setbacks in the sale of Daewoo Shipbuilding & Marine Engineering (042660), KDB Life Insurance, and Ssangyong Motor (003620). .
Chairman Lee continued, “We have completed the restructuring of 11 companies, including Doosan Heavy Industries & Construction (034020), HMM (011200), Daewoo E&C (047040), GM Korea, and Kumho Tire (073240). With only the sale remaining, we have to worry that the sale will not be easy because the corporate value has grown too large.
Previously, KDB had pushed for a merger between Daewoo Shipbuilding & Marine Engineering and Hyundai Heavy Industries, but it was unsuccessful due to opposition from EU competition authorities. The sale of KDB Life Insurance was canceled as MG Non-Life Insurance, another insurance company owned by JC Partners, a prospective underwriter, was recently designated as an insolvent financial institution by the financial authorities.
Regarding the background of the company, he explained, “The KDB is a bank and a policy institution that implements government policies in the financial aspect.
He continued, “One regret is that noise related to the change of policy heads appears every time the government changes. “I usually think that the law needs to be amended,” he said.
Some critics are also criticizing the fact that the press conference on this day unilaterally conveyed only the position of Chairman Lee himself without asking questions from the media. Chairman Lee took office in September 2017 as the first president of the Korea Development Bank under the Moon Jae-in administration and has led Korea Development Bank for about five years. He succeeded in re-election once, but he recently resigned with one year and five months remaining.
Chairman Lee, known as a close friend, served as an administrative officer of the Blue House during the Kim Dae-jung administration, vice chairman of the Financial Supervisory Commission during the Roh Moo-hyun administration, and served as the head of the Korea Institute of Finance and a visiting professor at Dongguk University Business School.
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