(2nd LD) Lee calls for strategic investment in future industries to secure global leadership

South Korean President Lee Jae Myung addressed the nation on Tuesday, advocating for substantial strategic investments in emerging industries like small modular reactors (SMRs), renewable energy, and aerospace, to maintain global leadership. At a Cabinet meeting in Sejong, the president highlighted SMRs, renewable power, quantum computing, aerospace, and advanced biology as sectors crucial for future growth.

Lee likened investing in these sectors to the large-scale megaprojects, emphasizing the need for thorough and intensive support. He vowed to work alongside citizens in fostering a unique South Korea through balanced regional development and the cultivation of advanced industries. President Lee stressed the importance of equitable development nationwide, criticizing the overconcentration in the Seoul area, which causes disparities in real estate, education, and youth-related issues.

To address these inequalities, the capital region should be stabilized, he argued, and the administrative functions should be gradually transferred to Sejong, a city established in 2012 to serve as South Korea's administrative hub. Lee also called for accelerated construction of a presidential office and a National Assembly branch in Sejong.

Additionally, the president stressed the necessity of improved crime victim protection, responding to public worries about the impact of recent changes to the Criminal Procedure Act, which removes prosecutors' authority to conduct direct investigations and transfers the investigative role solely to the police. Lee tasked the acting chief of the national police agency with devising measures to tackle these concerns.