Lee says, "In today's world, who would move a company just because of pressure? That kind of thinking is outdated"

[Financial News] President Lee Jae Myung said on the 2nd, "In today's world, where can you pressure companies into moving?" He added, "The idea that you can force something like that is outdated." He was responding directly to criticism from the opposition and others after companies announced 392 trillion won in investment plans for the Chungcheong region, following an earlier announcement of 896 trillion won in investment in the southwest region, including semiconductor clusters.
At the event, the "National Report Meeting on the Vision for Advanced Industry Development in the Chungcheong Region" held in Asan, South Chungcheong Province, Lee said, "I see some people thinking in an old-fashioned way, as if I pressured Chairman Lee Jae-yong and Samsung Electronics to make that kind of large-scale regional investment decision."
He continued, "How could you run a company and attract global investment that way? It is impossible." He added, "Thinking that you can pressure companies, or even force them, based on the old days of government-led administration is itself outdated."
Lee also said, "If you do that, you cannot survive." He stressed, "We are no longer competing only within Korea. We are competing with the entire world. What we need is the most rational system, the most transparent system, the most efficient order, and appropriate support."
He added, "This is an important task we must continue to pursue, but I am saying this in advance because I expect conflicts and confrontations to keep arising."
Lee also noted, "In each region, people sometimes ask, 'Why isn't our neighborhood getting this?'" He said, "Even so, we should not approach this in a divisive way."
He went on to say, "From a company's perspective, it has to concentrate in the region with the highest efficiency. Companies are not handing out gifts. We should not approach this by asking why they are not sharing them." He added, "We need to prepare, persuade, and provide the necessary infrastructure so that efficient industries can be located there and incentives can follow."
Lee said, "Going forward, the government will continue to persuade companies for balanced regional development, create an environment in which they can make investment decisions, and provide the fiscal resources and capabilities needed for that." He added, "We will keep making continuous efforts toward that goal."
cjk@fnnews.com Choi Jong-geun, Seong Seok-woo Reporter