Lee calls for strategic investment in future industries to secure global leadership

President Lee Jae Myung, center, speaks during a Cabinet meeting held in the central admnistrative city of Sejong, Tuesday. Yonhap

President Lee Jae Myung on Tuesday called for large-scale strategic investments in future industries, including small modular reactors (SMRs), renewable energy and aerospace, reaffirming his commitment to advancing Korea's industrial prowess.

The president made the call at a Cabinet meeting in the central administrative city of Sejong, emphasizing efforts to identify additional "seeds for future growth."

Lee cited SMRs, renewable energy, quantum computing, aerospace and advanced biology as key sectors that will determine global leadership in future industries.

"Strategic investment in these sectors should be pursued as thoroughly and intensively as investment in the megaprojects," Lee said, referring to the ongoing investment initiative involving three megaprojects related to semiconductors and artificial intelligence (AI) facilities.

"Through balanced (regional) development and bold nurturing of advanced industries, I will build an irreplaceable Korea together with the people," he added.

The president emphasized the need for balanced development throughout the nation, describing Sejong as the result of a historic decision to pursue balanced regional development.

Lee said the capital area surrounding Seoul had reached its saturation point and the excessive concentration in the region is creating disparities between the capital area and the rest of the country in real estate, education and issues affecting young people.

"Balanced development would be key to solving these chronic problems and allowing people across the country to equally enjoy opportunities for growth," the president said.

The city of Sejong was officially launched in 2012 as Korea's administrative center, hosting major government ministries as part of the country's long-term efforts to promote regional development and ease the concentration of population in Seoul.

"Efforts should be made to ensure the stable transfer of core state functions to Sejong so that it can firmly establish itself as a central pillar of state administration," Lee said, ordering officials to speed up the construction of a presidential office and a branch of the National Assembly in Sejong.