Lee urges major firms to grow jobs, investment

President Lee Jae-myung on Feb. 4 urged the leaders of South Korea’s 10 largest conglomerates to expand youth hiring and boost investment outside the Seoul metropolitan area. In response, the executives announced plans to invest roughly 270 trillion won over the next five years, pledging support for the government’s region-led growth policy.

Speaking at a corporate roundtable on youth employment and regional investment, Lee said he hoped the benefits of economic growth would reach small and midsize enterprises, regional communities, and young people entering the workforce. He asked companies to make additional efforts to ensure the gains from growth are distributed broadly across society. Attendees included Samsung Electronics Chairman Lee Jae-yong, SK Vice Chairman Choi Chang-won, Hyundai Motor Chairman Chung Eui-sun, LG Chairman Koo Kwang-mo, Lotte Chairman Shin Dong-bin, POSCO Chairman Chang In-hwa, Hanwha Vice Chairman Kim Dong-kwan, HD Hyundai Chairman Chung Ki-sun, GS Chairman Huh Tae-soo, and Hanjin Group Chairman Cho Won-tae.

Lee likened large corporations to tigers, saying a healthy economic ecosystem requires grasslands, grasshoppers, and rabbits to survive. He warned that without such balance, the grasslands could be destroyed. The remarks were widely interpreted as a call for major companies to pursue shared growth through investments that support the broader economy.

The business community responded by signaling it would act quickly on investment. Ryu Jin, chairman of the Korea Enterprises Federation, said at the presidential office that the country’s 10 largest conglomerates plan to invest about 270 trillion won in regional projects over the next five years. Including commitments from other companies, total investment could reach roughly 300 trillion won.

Ryu noted that young people continue to migrate to the greater Seoul area in search of jobs, while regional communities face population decline and increasing concerns about local extinction. He said breaking this cycle is urgent and essential and added that the business sector would respond with proactive investment. At the same time, he called on the government to provide bold support to ensure corporate hiring and employment plans proceed smoothly.

Major initiatives under the 270 trillion won plan include expanding semiconductor facilities, strengthening research and development for battery production, transforming operations through artificial intelligence, and investing in carbon neutrality infrastructure. The federation said leading conglomerates have identified regions outside the capital area as key hubs for future business and are moving ahead with early investments to establish regional industrial ecosystems.


박현익 beepark@donga.com