Democratic Party "Complete Overhaul of the 수도권 Jeongbi Planning Act"... Kakao Bank Veteran Lee Yong-woo

[Image source=Yonhap News]

[Asia Economy Reporter Park Cheol-eung] Lee Yong-woo, a former CEO of Kakao Bank and a preliminary candidate for the Democratic Party in Goyang-jeong, Gyeonggi Province, stated on the 17th, as the chair of the party's Special Committee on Regulatory Innovation, that "it is time to start a comprehensive revision discussion of the Capital Region Readjustment Planning Act."

Candidate Lee said, "While creating and operating Kakao Bank, I thought the biggest obstacle hindering the innovative growth of our economy was the regulatory system that weakens economic vitality and creativity," adding, "The shift to a negative regulatory system that allows everything except what is prohibited will be the cornerstone of South Korea's economic growth."

He pointed out that areas such as Goyang, where he is running, and Namyangju are restricted under the Capital Region Readjustment Planning Act, limiting all activities related to the establishment and approval of schools, industrial complexes, and training facilities.

Candidate Lee emphasized, "Cities have been managed for 30 years under past frameworks such as overcrowding control zones, growth management zones, and natural conservation zones. Despite new roads being opened and close connections with surrounding cities, the framework that manages economic and living zones without completion has become an ill-fitting garment. Now, while maintaining the concept of controlling overcrowding in the capital region, the regulations must be updated to fit the times."

He also pointed out that the budget, regional gross domestic product, and number of businesses in southern Gyeonggi are significantly higher than in the northern part, stating, "Compared to the well-equipped southern capital region, the underdeveloped and neglected northern capital region faces the revision law itself as a double shackling."

Candidate Lee said, "Goyang, Paju, and Gimpo are gateways to the peace economy and border areas. When the Gyeongui Line and Jayu-ro connect to the north, they will become the center of the northern unification economy, linking China, Russia, and Europe through North Korea," adding, "I will start discussions together with our party candidates who share the same intention, such as Representative Kim Han-jung (Namyangju-eul)."

This content was produced with the assistance of AI translation services.