Government to Announce Administrative Agency Relocation Plan Tomorrow; Public Institutions to Follow

[Financial News] The government will announce plans to relocate central administrative agencies to local regions. However, the announcement concerning public institutions, including the Financial Supervisory Service, has been postponed until a later date.
According to relevant ministries on the 2nd, the government plans to hold a press conference at Government Complex Seoul on the morning of the 3rd. The conference will focus on relocating administrative agencies and public institutions, as well as reforming the functions of public institutions.
Han Seong-sook, Prime Minister of South Korea, will attend the press conference along with Yun Ho-jung, Minister of the Interior and Safety; Kim Yun-duk, Minister of Land, Infrastructure and Transport; and Heo Jang, Second Vice Minister of Economy and Finance, as well as other relevant ministers.
In line with its national policy agenda, the government aims to announce relocation plans for central administrative agencies and public institutions within this year and begin the relocations in 2027.
The government is expected to disclose the direction, targets, and plans for relocating central administrative agencies to local regions. The Financial Services Commission, the Personal Information Protection Commission, and the Ministry of Gender Equality and Family have been mentioned as potential targets among the central administrative agencies.
However, the announcement is expected to focus on functional reform rather than detailed relocation plans for public institutions, including the Financial Supervisory Service, which has drawn particular attention.
Detailed relocation plans for public institutions are reportedly set to be disclosed sequentially at a later date. As the relocation of administrative agencies gathers momentum, efforts to move public institutions are also expected to accelerate.
The Ministry of Land, Infrastructure and Transport, which is leading the relocation of public institutions to local regions, is collecting the opinions of the institutions concerned under the principle of minimizing the number of agencies that remain in Seoul. Opposition from those institutions is also intensifying.
So far, the Ministry of the Interior and Safety has been responsible for relocating central administrative agencies, while the Ministry of Land, Infrastructure and Transport has handled the relocation of public institutions.

[email protected] Jung Kyung-soo Reporter