Lee Jae-myung Visits Busan: "Progressive Investment Needed to Prevent Regional Extinction"

At Bukhang Redevelopment Site, "Infrastructure Must Be Built to Attract Talent and Companies"

[Image source=Yonhap News]

[Asia Economy Reporter Kim Suhwan] Lee Jae-myung, the presidential candidate of the Democratic Party of Korea and Governor of Gyeonggi Province, visited the Busan North Port redevelopment site on the 31st and stated, "We must resolve the polarization between the metropolitan area and local regions," adding, "Progressive investment is necessary to prevent the extinction of local areas."

Lee said that his visit to Busan made him realize the necessity of balanced national development.

He said, "The metropolitan area faces problems such as overpopulation, while local regions seem to be entering a stage of extinction, which is problematic," and added, "Through this visit to Busan, I have newly realized how important regional balanced development is."

He continued, "After touring the North Port redevelopment site, it seems that Busan also needs a core industrial base where young people can work, and infrastructure to attract talent and companies must be established," expressing his thoughts.

Lee also expressed concern that the recent imprisonment of former Gyeongnam Governor Kim Kyung-soo might cause setbacks to the Southeast Mega City initiative.

[Image source=Yonhap News]

He said, "As polarization between local regions and the metropolitan area intensifies, the mega city development of local areas has become an urgent task," and added, "Former Governor Kim Kyung-soo has been planning the Southeast Mega City, so I am worried that there might be setbacks."

He further stated, "The issue of regional balanced development through mega cities is a national task, so the central government should take more interest and lead it proactively."

He emphasized that financial independence of local governments and bold support are important for national balanced development.

Lee said, "The local tax ratio should be raised to about 40%," adding, "Currently, the central government unilaterally issues directives, but local governments, which know the field well, should be given more autonomy to take responsibility and administer."

He continued, "Regarding infrastructure investment, a progressive attitude toward investing in local areas is necessary from a long-term and nationwide perspective, regardless of immediate practical profits and losses."

This visit to Busan is Lee's first since visiting candidate Kim Young-choon's office in March ahead of the Busan mayoral by-election.

After visiting Daegu·Ulsan and Busan·Changwon, Lee plans to visit Jeonju·Jeonbuk and Daejeon·Chungcheong consecutively until the 2nd of next month.

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