Korea Development Bank’s new Chair and CEO Park Sang-jin stressed the growing importance of policy finance as he took office Monday. Speaking at his inauguration ceremony at the bank’s Yeouido headquarters, he underlined KDB’s mission to support key strategic sectors. Moreover, Park said that finance is increasingly serving as a policy tool to nurture future industries and strengthen the real economy. He further emphasized that KDB’s role as a core policy finance institution is becoming more essential for national productivity. Consequently, his remarks came as the state-run lender seeks to expand its role in guiding economic transformation.
Park then outlined three major priorities to steer the bank’s direction in the coming years. First, he pledged to enhance the efficiency of Korea’s financial system by backing advanced strategic sectors such as green technology and digital innovation. In addition, he committed to promoting inclusive growth by supporting small businesses, startups, and regional industries. Furthermore, he promised to improve productivity and lead structural reforms in traditional industries facing intense global competition. Together, these initiatives aim to align KDB’s resources with long-term national growth objectives, while ensuring that policy finance evolves to meet modern challenges.
His appointment also concluded a three-month leadership gap created by the June departure of his predecessor. During that period, the selection process was delayed as the government finalized a reorganization plan for financial and economic regulators. Notably, Park’s elevation is significant because he is the first former employee to lead KDB in its long history. He joined the bank in 1990 and built a reputation in corporate restructuring and regulatory work, gaining experience across diverse assignments. As a result, observers believe his insider expertise could help KDB balance innovation and operational stability.
Additionally, Park highlighted his personal connection to KDB and to public service throughout his speech. Having served over three decades with the lender, he described his new position as a profound responsibility. He previously held several senior posts, including compliance chief, before leaving in 2019 to work in related fields. Moreover, Park maintains a long-standing friendship with President Lee Jae Myung from their university days.
Industry watchers therefore suggest that this relationship may strengthen coordination between financial authorities and the policy bank.
Looking forward, Park pledged to collaborate closely with colleagues to advance Korea’s economic development. He added that KDB must use policy finance strategically to unlock innovation and sustain growth.
Consequently, KDB plans to focus on funding advanced technologies, supporting entrepreneurship, and restructuring sectors under competitive pressure. Analysts expect his tenure to deliver a sharper focus on productivity and global competitiveness. Ultimately, Park’s appointment signals a renewed commitment to leveraging policy finance as a catalyst for national progress.
