South Korean President Urges Businesses to Invest in Provinces, Vows Policy Favoritism

South Korean President Lee Jae-myung is pushing for a significant shift in national development, urging businesses to invest in rural areas and vowing to legally mandate regional favoritism in government policies. "We ask companies, 'If possible, please do it in the provinces,'" Lee said during a press conference marking his first anniversary in office.

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If possible, please do it in the provinces.

Lee described tackling regional inequality as "the way for Korea to survive." He outlined a strategy of "giving opportunities to the provinces to the maximum extent possible within our capabilities." This includes increased financial aid, with preferential treatment for local currencies in rural areas compared to Seoul. "In terms of amount, it's quite substantial," he noted, promising further increases.

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This is the way for Korea to survive.

The president also detailed plans to bolster provincial universities, aiming to create "10 Seoul National Universities" in the regions and investing heavily in key provincial institutions. This comprehensive approach signals a strong commitment to rebalancing development and opportunity across the country, moving beyond mere encouragement to concrete policy and legal frameworks.

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We give opportunities to the provinces to the maximum extent possible within our capabilities.