Financial institutions oppose gov't's relocation plan

Financial institutions have vehemently opposed the government's plans to relocate public institutions from Seoul to provincial areas, according to industry observers on Wednesday. The Ministry of Land, Infrastructure and Transport has initiated a process to gather opinions from public institutions affected by the relocation, in an effort to move a majority of them out of Seoul.

Meanwhile, the Ministry of the Interior and Safety is concurrently moving ahead with plans to relocate government ministries and agencies. However, the relocation process is still in its initial stages, lacking a comprehensive timeline or a definitive list of institutions affected. Although the ministries are intensifying their efforts following President Lee Jae Myung's call to remove all public institutions and agencies from Seoul, the government has emphasized that it will not abandon the relocation plan despite the opposition from affected institutions.

An official from the land ministry, who wished to remain anonymous, stated, "All institutions do not want to go to the provinces, but we cannot drop our relocation plan just because of their strong opposition." These institutions express a reluctance to relocate to the provinces, but the government remains steadfast in its commitment to the relocation plan.