Lee calls 3 mega projects 'historic decision' for future generations

President Lee Jae Myung said Thursday that the three mega projects are "not simply a handout to the regions, but the only path to making South Korea the ultimate winner of the Fourth Industrial Revolution — a historic decision for future generations."

Lee made the remarks while presiding over the 40th senior secretaries meeting at Cheong Wa Dae. He added that expanding the country's growth axis beyond the Greater Seoul area, which he said has already reached its limits, and spreading it nationwide would "become the driving force that transforms the entire country into a Korean Silicon Valley."

He went on to say that he hoped all parties would work together to develop and advance further investment plans. "I ask that the people, businesses, the government and the political community all unite their strength on this path — one that will take responsibility for the next 30 years of South Korea's future and open a wider window of opportunity for all young people across the country," he said.

Lee invoked the legacies of the Park Chung-hee and Kim Dae-jung administrations, praising the industrial policy achievements of each era. "Looking back, past administrations have always opened the door to greater leaps by embracing new challenges at the crossroads of their times," he said. "For example, the Park Chung-hee government in the 1970s paved the way for an export-driven economy through the promotion of heavy and chemical industries, and the Kim Dae-jung government in the 2000s laid the foundation for South Korea to become a powerhouse in IT technology."

Lee also stressed the need for speed in securing a decisive global edge. "To win in a competition where falling even half a step behind means being left behind permanently, we must concentrate all our capabilities through bold strategy and swift execution," he said.

Turning to concerns about inequality, Lee warned that allowing K-shaped polarization to go unchecked would erode productivity, undermine growth potential and ultimately destabilize national unity and social cohesion.

"We must approach policy responses to easing polarization from multiple angles, with the conviction that the success or failure of state affairs depends on it," he said. To that end, he called for an all-out effort to strengthen basic social safety nets, build a fair labor market, revitalize local economies and create asset-building opportunities for all — particularly youth.

He particularly urged officials to make full use of additional tax revenues projected in the near term to build a stable pool of investment funds for future generations.