Lee says balanced regional development critical to Korea's survival, growth

President Lee Jae Myung on Wednesday reiterated the importance of pursuing balanced development of the country for its growth, as well as survival, citing overpopulation in the capital region as a major challenge facing Korea.

The president made the remarks at a central-regional government cooperation conference that brought together central government officials, and newly elected mayors and governors from across the country to enhance cooperation and discuss ways to promote region-led growth. "The starting point for practically all major problems facing Korea is the extreme territorial imbalance," the president said, pointing to what he described as excessive population concentration in the broader Seoul area vis-a-vis depopulation crises in regional areas.

The president said the situation "subdues overall efficiency nationwide while eroding national competitiveness." "Now, balanced development is not a matter of choice or benefits, but a strategy critical to Korea's survival and sustained development," the president stressed.

He pointed to the government's "megaprojects" investment init