Seoul: President Lee Jae Myung emphasized the importance of balanced regional development for South Korea's sustainable growth, pledging to implement customized strategies to foster new growth engines nationwide. This announcement was made during a policy briefing by the Presidential Committee for Decentralization and Balanced Development at the presidential office.

According to Yonhap News Agency, President Lee highlighted that strengthening decentralization, balanced development, and local autonomy is now a crucial national survival strategy for the Republic of Korea's sustainable growth. He pointed out that the government's previous focus on directing resources into the Seoul metropolitan area has reached its limits, signaling the need for region-specific strategies to cultivate new growth opportunities.

President Lee acknowledged that while the growth strategy centered around the metropolitan area had delivered significant achievements in the past, the excessive concentration in the capital region is now hindering the nation's growth potential. He stressed the importance of shifting focus to regional development to unlock new growth avenues.

During the briefing, the committee presented plans to implement a tailored development strategy for five regional hubs: the Seoul metropolitan, southeast, northeast, central, and western regions, along with three special self-governing provinces: Jeju, Gangwon, and North Jeolla.

This session precedes a series of policy briefings that President Lee is scheduled to receive from various ministries and public institutions, starting with the Ministry of Economy and Finance on Thursday.