Seoul: President Lee Jae Myung is set to receive a policy briefing Monday from a presidential committee on balanced regional development and discuss plans on how to promote regional economies and ease economic imbalances, Lee's office said.

According to Yonhap News Agency, the Presidential Committee for Decentralization and Balanced Development will present a customized regional development strategy aimed at easing excessive concentration in the Seoul metropolitan area and fostering new growth drivers across the nation. The strategy envisions five regional hubs -- the Seoul metropolitan, southeast, northeast, central, and western regions -- as well as three special self-governing provinces: Jeju, Gangwon, and North Jeolla.

During a town hall meeting last week, Lee reaffirmed his commitment to alleviating the excessive concentration in the capital area and advancing balanced national development. Monday's session comes ahead of a series of policy briefings Lee is scheduled to receive from ministries and public institutions, beginning with the Ministry of Economy and Finance on Thursday.