Politics · South Korea · 2 hrs ago
Lee Eon-ju opposes relocating South Korea’s financial agencies
Democratic Party lawmaker Lee Eon-ju has opposed moving financial agencies out of Seoul, while saying regional development remains important.
The government has confirmed that the Financial Services Commission will move to Sejong and is considering relocating the Financial Supervisory Service and state-run banks.
Lee argues that finance works best when information, money, skilled workers, businesses and investors are closely connected.
Seoul is home to 91.6% of financial companies’ head offices, according to the figures cited by Lee.
She warns that splitting agencies across locations could raise coordination costs and slow decisions during a financial crisis.
The dispute pits regional development against concerns about financial competitiveness, though Lee says the goals do not have to conflict.
The government’s next steps on the other possible relocations are not specified.
Lee Eon-ju, a ruling-party lawmaker, opposed relocating South Korea’s financial agencies, warning it could weaken the industry’s competitiveness.
She said financial services depend on close links among information, capital, skilled workers, companies and investors.
Lee warned that dispersing policy and supervisory agencies could raise coordination costs and delay responses to financial crises.
She cited figures showing that 91.6% of financial company headquarters are in Seoul.
Lee said balanced regional development and financial competitiveness need not be competing goals.
- Who
- Lee Eon-ju, a Democratic Party of Korea lawmaker, opposed the relocations.
- What
- She objected to relocating financial agencies, including the Financial Services Commission and agencies whose moves are under consideration.
- When
- Lee posted her comments on Facebook on October 14; the article was published October 15, 2026.
- Where
- The proposed moves include the Financial Services Commission’s relocation to Sejong and possible relocations elsewhere in South Korea.
- Why
- Lee said financial institutions need to remain closely connected and that dispersal could increase coordination costs and slow crisis responses.
This story does not have two clearly opposing sides.
Lee Eon-ju posted on Facebook opposing the dispersal of financial agencies while affirming the importance of balanced regional development.
Maeil Business published its report on Lee’s opposition.
- Financial company headquarters in Seoul
- 91.6%
- On-site inspection targets in Seoul
- 88.3%
- Financial complaints in Seoul
- 81.4%
- Financial Services Commission relocation
- Move to Sejong described as confirmed
- Other possible relocations
- Financial Supervisory Service and state-run banks are under consideration
What people are saying
금융은 정보와 자본, 전문인력, 기업과 투자자가 긴밀하게 연결될 때 경쟁력이 커지는 집적 산업
균형발전과 금융경쟁력은 양자택일의 문제가 아니다