Lee Nak-yeon "Priority Should Be Given to Promoting the National Assembly Sejong Chamber First"

[Image source=Yonhap News]

[Asia Economy Reporter Park Cheol-eung] Lee Nak-yeon, a member of the Democratic Party of Korea, proposed a 'Balanced Development New Deal' and suggested starting with the relocation of the National Assembly.

In a press release on the 31st, Lee said, "The complete relocation of both the National Assembly and the Blue House will complete the administrative capital," and added, "We should first pursue the Sejong National Assembly building, which can gain bipartisan agreement."

As a second detailed task, he pointed to the development of regional hub cities and the relocation of public institutions. The plan is to promote linked development with nearby cities and rural fishing villages and to relocate and allocate public institutions according to the characteristics of each region.

He viewed the Korean New Deal as needing to be intertwined with regional industry development. The plan is to promote regional industrial development strategies for balanced national land development and regional economic revitalization, while also fostering future industries.

Regarding the Seoul metropolitan area, he proposed that "through balanced development, we should improve side effects such as housing burdens caused by population overcrowding and traffic congestion costs, and focus on fostering information and data industries, cultural content industries, and finance industries in preparation for the Fourth Industrial Revolution, developing it into a world-class economic and financial city."

He also noted that this aligns with the '3Rs' of the U.S. Great Depression New Deal: Relief through the relocation of public institutions to revive dying regions, Recovery linked with regional industries, and Reform of balanced national land development integrated with the Korean New Deal in preparation for the Fourth Industrial Revolution.

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