Why is Public Support Vital for Balanced Regional Growth in South Korea?
Synopsis
Key Takeaways
Seoul, Jan 23 (NationPress) South Korean President Lee Jae Myung emphasized on Friday that public backing is essential for the government's initiative to achieve balanced regional growth. This initiative aims to alleviate the overwhelming concentration in the Seoul metropolitan area and cultivate new growth engines throughout the nation.
During discussions, President Lee highlighted his administration's goal of establishing five significant regional hubs: the Seoul metropolitan area, the southeast, northeast, central, and western regions, in conjunction with three special self-governing provinces: Jeju, Gangwon, and North Jeolla.
"Resistance is strong due to long-standing inertia and vested interests," Lee remarked at a town hall meeting in Ulsan. "During such challenging times, public awareness and support play a crucial role," as reported by Yonhap News Agency.
He pointed out that decades of resource concentration in the Seoul metropolitan area have reached a tipping point, citing skyrocketing housing costs and limitations on electricity and water supplies necessary for the establishment of new semiconductor facilities.
"Decentralization and balanced growth are not merely concessions but a strategy for national survival," he asserted.
Lee also underscored the importance of nurturing advanced industries like artificial intelligence (AI), urging Ulsan to embrace its strong manufacturing foundation and lead in the AI transformation.
As a significant industrial hub, Ulsan hosts large automotive, shipbuilding, and petrochemical complexes. Recently, SK Group announced plans to construct the nation’s largest AI data center in the city in collaboration with Amazon Web Services.
"Ulsan is a manufacturing titan with essential assets for future industries," he stated. "The AI transformation is an inevitable trend. If we cannot escape it, we must adapt rapidly and take the initiative."
Emphasizing the urgent need for an AI-centric industrial transition, Lee noted that South Korea must swiftly adapt, building upon its inherent competitive advantages, and pledged to bolster Ulsan as a key industrial center.
"Given Ulsan's strong fundamentals, we need to make concentrated investments here," he concluded.