President Lee urges removal of investment obstacles, focus on regional growth

President Lee Jae-myung emphasized the critical importance of actively removing obstacles that impede corporate investment, stating that it is paramount to ensure that companies' willingness to invest is not diminished by regulations or a lack of infrastructure and personnel.

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It is more important than anything else to actively remove the obstacles to investment so that the will of companies to invest is not broken.

Speaking at a briefing on the ministries of Industry, Climate, and Nuclear Safety, President Lee called for a redrawing of the nation's industrial map. He urged that the core of South Korea's growth should expand from the Seoul metropolitan area to provincial regions. This involves actively discovering regional growth engines that allow each area to leverage its unique industrial strengths and foster interconnected growth.

President Lee also highlighted the need for stable power and water supply to ensure the success of recently announced mega-projects. He linked issues such as rising housing prices in the capital region to the severe problem of over-concentration in the Seoul metropolitan area. Therefore, he stressed that regional balanced development and preferential industrial and economic policies for provincial areas are crucial for overcoming these challenges.

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We must actively discover regional growth engines so that all regions can grow together by leveraging their respective industrial strengths.

The president's remarks underscore a commitment to fostering a more equitable distribution of economic opportunities and development across the country, aiming to create a more robust and balanced national economy.

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The root of all problems, including the current housing price issues in the Seoul metropolitan area, lies in the serious problem of concentration in the Seoul metropolitan area.