South Korea's President Lee Jae-myung urges balanced regional growth to boost competitiveness
President Lee Jae-myung spoke at a town hall titled “Listening to Chungbuk’s Heart” in Cheongju, North Chungcheong Province, on the 13th. He argued that Korea’s heavy concentration in the Seoul metropolitan area has produced housing and other problems, and warned this dynamic could undermine the country’s industrial competitiveness abroad.
He noted that while housing prices have cooled somewhat, some apartments still exceed 200 million won per pyeong, underscoring persistent affordability pressures. Lee argued that a capital-centric, “one-pole” system has generated a range of issues and could affect the nation’s ability to compete internationally in industry and business.
The president said regional balanced development cannot be treated as mere charity or fairness, but as essential for sustainable national progress. He emphasized the need to mobilize national capacity to place industries and firms in regional areas so residents can live with hope, and so future generations can be born in their hometowns rather than in Seoul.
Lee also drew attention to a dispute over garbage disposal in Chungbuk, noting that residents bear a heavy burden while opportunities seem to drain away, which could fuel a sense of deprivation in the region. He pledged that problems would be tackled step by step and that more must be done.
In a personal aside, he quipped that he is “the son-in-law of Chungbuk,” referencing his wife Kim Hye-kyung’s hometown of Chungju, and said he would stay engaged with the region’s concerns.
Context for readers: Cheongju is the provincial capital of North Chungcheong, a central region of South Korea. The town hall outreach reflects a long-running government emphasis on reducing urban overconcentration and promoting regional development, issues that affect housing markets, local industry, and supply chains that connect to the broader U.S.-Korea economic relationship.
Why this matters beyond Korea: Seoul-dominated growth has implications for global technology supply chains, regional manufacturing, and security planning. If Korea succeeds in spreading industry and jobs more evenly, it could alter the trajectory of investment, labor markets, and consumer demand across the country, with potential knock-on effects for American suppliers, multinational firms, and the stability of the U.S.-Korea alliance.