Prime Minister Kim Pledges "Unprecedented Support" for Regional Corporate Investment via Policy Funds and Public Finance

Prime Minister Kim Min-seok said today (June 15), "To promote corporate investment in regional areas, we will prepare unprecedented financial support measures and utilize policy funds, such as the National Growth Fund, and public finance to ensure sufficient funding is provided."

In his opening remarks at the 3rd Pan-Government Council for the Great Transformation of National Territory held at the Government Complex Seoul today, Prime Minister Kim stated, "We will mobilize all available policy tools to actively support corporate investment in order to foster the '5-Pole, 3-Special' growth engines."

He further promised, "We will significantly expand support for region-led R&D and increase investment in startups within the growth engine industries. We will also ensure that the Special Act on Mega-Special Zones, which will support these efforts, is enacted within this year."

Prime Minister Kim also explained, "To support the '5-Pole, 3-Special' development strategy, we will establish a supra-regional special agreement system. Moving forward, we will support the stable implementation of region-led supra-regional cooperation projects through meetings between the central and local governments."

In addition, he said, "We will drastically improve living conditions in regional areas. We will strengthen access to education, childcare systems, culture, and medical services so that employees of companies and public institutions relocating to these regions can settle down stably."

Prime Minister Kim noted, "In the second half of the year, major projects related to region-led growth and a balanced national development—such as the announcement of growth engines, large-scale corporate investments, and the second phase of public institution relocations, which the government has been preparing during the local election period—are scheduled to be launched in earnest."

He added, "The great transformation of our national territory must be built together by the central and local governments. We will cooperate closely with the newly formed local governments."

The meeting today covered topics including the implementation system and management plan for the great transformation of national territory, the 7-point support package for the '5-Pole, 3-Special' growth engines, supra-regional national land planning, and measures to improve living conditions such as education, healthcare, and culture.

Following the meeting, Prime Minister Kim held a luncheon with the newly elected heads of regional governments at the Prime Minister's official residence in Seoul to explain the key details of the national territory transformation project and discuss cooperation strategies.

In his opening remarks, Prime Minister Kim explained, "The President left for a long overseas trip immediately after the election. I thought it would be best for me to meet with you first to explain the government's progress, and then hold another session once the President returns."

He continued, "The project the government is prioritizing most among the tasks for the second half of the year, following the local elections, is the great transformation of national territory. It is time to begin related discussions with local governments."

He explained, "Large-scale projects, such as the selection of growth engines by region and large-scale corporate investments, will now be unveiled and materialized. This is not a matter of the central government distributing projects, but rather a joint effort by the central and local governments to change the capital-centric structure of our national territory."

The luncheon was attended by Incheon Mayor-elect Park Chan-dae, Daejeon Mayor-elect Hur Tae-jeong, Ulsan Mayor-elect Kim Sang-wook, Sejong Mayor-elect Cho Sang-ho, Gyeonggi Province Governor-elect Choo Mi-ae, Jeonnam-Gwangju Integrated Special Mayor-elect Min Hyung-bae, North Chungcheong Province Governor-elect Shin Yong-han, North Jeolla Province Governor-elect Lee Won-taek, Jeju Province Governor-elect Wi Seong-gon, and Deputy Prime Minister and Minister of Finance and Economy Koo Yoon-cheol.

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.