'You can't move heart from body': FSS, KDIC unions rally against relocation out of Seoul
“The Korea Deposit Insurance Corporation (KDIC) and the Financial Supervisory Service (FSS) are the heart of Korea’s financial stability. And yet the government says it wants to move that heart away from the center of the financial markets. If you take out the heart and put it somewhere else, can you really expect the body to keep functioning normally?” The voice of Kim Young-heon, head of the…
The Korea Deposit Insurance Corporation (KDIC) and the Financial Supervisory Service (FSS) are vital to South Korea's financial stability. However, the government aims to relocate these institutions out of Seoul, raising concerns. Speaking outside Cheong Wa Dae in Seoul, Kim Young-heon, head of the KDIC labor union, questioned the government's plan.
"If you take out the heart and put it somewhere else, can you really expect the body to keep functioning normally?" he asked. "Heart transplant surgery is one of the most delicate procedures, where even a single mistake can be fatal. Our financial system has no anesthesia and no recovery room."
Over 40 union members from both the KDIC and FSS protested the government's move, waving red placards at a press conference. The relocation is part of President Lee Jae Myung's efforts to shift government agencies away from Seoul to reduce the concentration of power in the capital.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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