President Lee: “The Root Cause of South Korea’s Major Problems Is Severe Regional Imbalance”

[Financial News] President Lee Jae Myung said on the 26th, "Above all, a strong balanced development policy and a balanced regional development policy must be pursued," adding that "the starting point of virtually all the major problems South Korea faces today is severe regional imbalance."
Chairing the 10th Central Local Cooperation Meeting at Cheong Wa Dae that day, Lee said, "Seoul and the Capital Region are suffering from an explosive risk because they are excessively overcrowded, while local areas, by contrast, are facing the risk of extinction."
He stressed, "As a result, the efficiency of the country as a whole is declining, and national competitiveness is also being eroded. This is by no means desirable, either for the Capital Region or for the nation as a whole. Balanced development is no longer a choice or a favor; it is an essential strategy for South Korea's survival and sustainable growth."
He continued, "In that sense, the diversification of ultra-gap strategic industries symbolized by the three major mega projects will, I believe, become the key to opening an era of shared growth in which the entire country develops together. The central government of South Korea is also devoting all its efforts to fostering next-generation strategic industries that will support region-led growth alongside the three major mega projects. In addition, we will do our utmost to expand industry and jobs around the Five Mega-Regions and Three Special Self-Governing Provinces Strategy, and to improve living conditions such as housing, education, and welfare."
He also emphasized that not all of these tasks can be carried out by the central government alone.
Lee said, "I believe the central government and local governments are partners and a community of shared destiny, both carrying the historic mission of improving people's lives and ensuring the country's sustainable development." He added, "I sincerely hope that, through close communication and cooperation, we can work together to design a better future for South Korea. It would be good for the central and local governments to become one team and join hands to build an irreplaceable South Korea, and a South Korea where all people are happy."
Lee noted that this year marks the 31st anniversary of the start of full-fledged local autonomy through elected local governments. He explained, "Over the past years, our local autonomy has grown dramatically in both quantity and quality. The capabilities and roles of local governments have steadily strengthened, and residents' participation in local administration, legislation, and budgeting has also continued to expand."
He then urged, "Based on the achievements of the past 31 years, we must now prepare for a new era of local autonomy in which greater resident participation, stronger regional solidarity, and faster administrative innovation come together."
The meeting was the first time the newly launched local governments of the ninth elected term and the central government gathered in one place to strengthen cooperation as partners in state administration and discuss the direction of region-led growth. In particular, a separate session was arranged for local governments to present their own growth strategies and seek solutions together.
The meeting was attended by Prime Minister Han Seong-sook, Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol, Minister of the Interior and Safety Yun Ho-jung, Chief of Staff to the President Kang Hoon-sik, Chief Presidential Secretary for Policy Kim Yong-beom, and other presidential officials. From local governments, Park Chan-dae, chairman of the Korea Association of Provincial and Metropolitan City Mayors and governor of Incheon Metropolitan City, along with other provincial and city governors, took part.
[email protected] Choi Jong-geun Reporter