Lee Nak-yeon: "We will prepare customized balanced development plans for five regions to resolve the imbalance between Gangnam and Gangbuk in Seoul"

Lee Nak-yeon, leader of the Democratic Party of Korea, is speaking at the on-site Supreme Council meeting held on the 17th at Seoul Bio Hub in Dongdaemun-gu, Seoul. Photo by the National Assembly Press Photographers Group

[Asia Economy Reporter Jeon Jinyoung] Lee Nak-yeon, leader of the Democratic Party of Korea, announced on the 17th that he will "prepare and present customized balanced development plans for five regional zones" to improve regional imbalances in Seoul. He also stated that the eastern part of Seoul will be designated as a "Digital Healthcare Special Zone" to develop it into a hub for the biohealth industry.

On the morning of the same day, Lee visited Seoul Bio Hub in Dongdaemun-gu, Seoul, and held an on-site highest-level meeting, saying, "We will promote a smart Seoul balanced development strategy so that essential functions for citizens are evenly distributed throughout the city."

He pointed out, "According to the Seoul Metropolitan Government's Gross Regional Domestic Product (GRDP) report, the GRDP of Gangnam-gu is 21.6 times that of Gangbuk-gu. The gap between Dongdaemun-gu and Gangnam-gu is also 9.4 times," adding, "Such disparities are a major cause of undermining the overall competitiveness of Seoul."

Lee said, "To achieve balanced development, urgent solutions are needed for residential balance and the imbalance in education and jobs," and added, "Each region should have industries suited to its characteristics."

He continued, "Since the eastern part of Seoul has a concentration of large hospitals and research facilities, the biohealth industry infrastructure is well established. Utilizing this, it can develop into a global biotechnology hub," emphasizing, "We will steadily pursue policies to strengthen the competitiveness of the bio industry, such as innovating domestic manufacturing processes for key raw and subsidiary materials and small equipment, and reinforcing the production base."

He also stated, "We will devote great effort to creating an environment where creative entrepreneurs and young people can challenge themselves without fear of failure," and added, "Through bold regulatory innovation, we will nurture companies and create future-oriented jobs."

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