Seoul: President Lee Jae Myung on Thursday emphasized the critical need to expand investments in advanced industries beyond the capital region, announcing plans to soon reveal a related investment strategy. Lee underlined this priority during a regular meeting with top aides, as the government reportedly prepares to develop semiconductor clusters in regional areas, aligning with his administration's vision for balanced regional development.
According to Yonhap News Agency, the president called for a significant diversification of strategic industries through large-scale investments in core advanced sectors. He identified regions such as the eastern province of Gangwon, the southern island of Jeju, and the southern Yeongnam and Honam regions as prime areas for this expansion, aiming to address the excessive concentration in the capital region. These semiconductor clusters, once established, are expected to become key production centers for major companies like Samsung Electronics Co. and SK hynix Inc.
Lee further stated that while enhancing the capital region's core infrastructure is important, it is equally crucial to build industrial foundations across regional areas to usher in a new era of growth nationwide. He promised to soon present a detailed blueprint on this matter to the public.
The president warned that failing to address development polarization could jeopardize the country's recent positive changes, potentially leading to an unimaginable crisis. He noted that the substantial growth in some industries might exacerbate disparities if the benefits do not extend to regional areas, which constitute 90 percent of the national territory.
Additionally, Lee expressed concerns over rising food and dining prices, attributing them to increasing oil prices. He instructed officials to utilize all available resources to alleviate price pressures, emphasizing the need for urgent and decisive action to stabilize prices in the face of these challenges.