South Korea’s financial sector is bracing for a general strike over the government’s roadmap to relocate central administrative agencies outside the capital region. The Korean Financial Industry Union expects about 20,000 participants at a rally in Gwanghwamun, central Seoul, on the 4th, with all 42 of its chapters joining. The union argues that moving institutions including the Financial Services Commission and Financial Supervisory Service could lead to staff departures, weaken day-to-day supervision and impose additional costs on financial companies. It is calling for the government to assess the results and unresolved problems from the first relocation round before considering a second. The union also cited overseas examples in which weaker or more distant supervision preceded higher risk-taking, bank failures and increased nonperforming loans (loans in default or near default).