Major investment projects set for imminent unveiling as '5-Pole 3-Special' strategy gains momentum

With President Lee Jae-myung signaling Monday that a set of "large-scale investment projects" would soon be made public, observers expect the announcement to center on initiatives tied to the government's push for balanced regional development under the 5-Pole 3-Special framework and the cultivation of advanced industries.

At a press conference Monday marking the first anniversary of his inauguration, Lee said the government would advance toward becoming "an industry powerhouse with an overwhelming edge, where every citizen and every part of the country equally enjoys the opportunities and benefits of growth." He added that he would "soon unveil to the public large-scale investment projects that will bring about a great transformation in our growth strategy."

Lee also stressed that the fruits of growth must not remain concentrated in any particular company, region or sector.

The remarks have drawn attention to investment projects linked to the 5-Pole 3-Special regional development agenda, which the president has consistently championed.

The 5-Pole 3-Special strategy seeks to move beyond the current single-hub structure centered on Greater Seoul by reorganizing the country into five mega-regions — the metropolitan area, the southeastern region, the Daegu-North Gyeongsang region, the central region and the Honam region — alongside three special autonomous provinces: Gangwon Province, North Jeolla Province and Jeju.

While no specifics were disclosed Monday, the Ministry of Trade, Industry and Energy has set regional growth as its top priority this year and is focused on nurturing new industries and driving the AI transformation of manufacturing — an initiative it calls M.AX — raising the prospect that concrete policy deliverables could emerge from those efforts. Minister Kim Jung-kwan has been a leading voice behind both agendas.

As part of the M.AX push, the ministry has established 11 working subcommittees organized around regional industrial complexes to help spread the initiative across the country.

The ministry recently proposed a policy change that would restrict subsidies for companies relocating back to South Korea to those setting up outside the greater metropolitan area, in a bid to channel more returning firms into regional economies.

The ministry plans to accelerate the development of "growth engines" for each of the five poles and three special zones in the second half of this year, selecting industries to lead regional growth in each area. It is currently assembling support packages for those industries as part of a broader strategy push.

In a presidential briefing at the end of last year, the ministry said it would finalize the growth engine industries and put in place a concentrated pan-government support package, including special subsidies.

For projects selected as growth engines, the government plans to introduce corporate investment incentives comparable to those offered under the US Inflation Reduction Act. It also plans to direct more than 40 percent of the 150 trillion won ($97 billion) National Growth Fund toward growth engine development projects.

The government is also pursuing the designation of "mega special zones" to support the 5-Pole 3-Special regions, and hopes to replicate in other parts of the country investment cases similar to Hyundai Motor Group's Saemangeum project.

To ensure that large corporate investments translate into regional growth, the government plans to provide the necessary policy support, including infrastructure development and the supply of personnel and sites.

Lee cited Hyundai Motor's investment as an example of progress in balanced regional development, saying, "Policies that prioritize the regions for balanced local development will continue. If you wait a little, you will see quite a few unexpected results."

A ministry official said the president's remarks appeared to underscore that large-scale corporate investment in the regions is a core driver of balanced growth under the 5-Pole 3-Special framework. "We are communicating closely with companies and working on multiple fronts to attract active investment in the regions," the official said.