Prime Minister Kim Min-seok said Thursday that "it is time to shift from an era of capital-region-concentrated growth to an era of region-led growth," vowing to "foster fundamental regional growth engines by nurturing the '5 Poles, 3 Special Zones' strategic industries on a mega-regional scale."
Kim made the remarks at a pan-government coordination meeting on national spatial transformation held at the Government Complex Seoul.
"We will select growth engines in the second half of this year, taking into account demand and conditions in each region, and provide comprehensive support through a growth support package that includes bold regulatory innovation, financial, tax and fiscal assistance," Kim said. "We will designate mega special zones, grant extensive regulatory exemptions, and accelerate regional growth through full-cycle support ranging from workforce development and R&D funding to tax incentives."
Kim also noted that Hyundai Motor Group's signing of a memorandum of understanding to invest approximately 9 trillion won ($6.6 billion) in robotics, hydrogen and artificial intelligence "will serve as a touchstone for region-led growth." He added that "the government will provide intensive support through the Saemangeum-Jeonbuk Grand Innovation Task Force."
The prime minister also outlined plans to cultivate regional talent on a zone-by-zone basis to underpin balanced regional growth. "By this year, we will provide strategic support in growth-engine industries and AI to three hub national universities, and establish regional talent development and research hubs that can boost regional potential growth rates," he said.
Kim further pledged to "build the foundations for hub cities in each region" by expanding water supply, electricity, AI infrastructure and metropolitan transportation networks, as well as improving residential, employment, education and healthcare environments through expanded cultural facilities, establishment of high-quality schools, and the creation of essential medical care cooperation systems.