(LEAD) Lee says balanced regional development critical to S. Korea's survival, growth

President Lee Jae Myung emphasized the necessity of equitable regional development for South Korea's prosperity and survival during a central-regional government cooperation conference on Wednesday. Overpopulation in the capital region, particularly around Seoul, poses a significant challenge to the nation's growth, according to the president.

The imbalance between population density in the Seoul area and depopulation in other regions is detrimental to overall efficiency and national competitiveness, the president argued. He underscored that balanced development is not a matter of preference or benefit, but a strategic imperative for South Korea's survival and sustained development.

The president highlighted the government's megaprojects investment initiative, which aims to stimulate large-scale investments in semiconductor production and artificial intelligence-related facilities across regional areas. The president vowed to support industry growth, job creation, and improved living conditions in major regional areas through closer collaboration between central and regional governments.

During the conference, 16 mayors and governors from throughout the country were to present their growth strategies and discuss implementation with the central government. Addressing runaway housing prices in the capital and other issues stemming from capital concentration is a pivotal policy objective of the Lee administration.