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President Lee Secures 270 Trillion Won Corporate Pledge for Regional Growth

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  • Chinese Ambassador to South Korea Dai Bing speaks during an interview with Yonhap News Agency at the Chinese Embassy in Seoul on Feb. 2, 2026. (Yonhap)
    Image: Yonhap
    Chinese Ambassador to South Korea Dai Bing speaks during an interview with Yonhap News Agency at the Chinese Embassy in Seoul on Feb. 2, 2026. (Yonhap) Source Full size
  • In this file photo, President Lee Jae Myung (C) attends a meeting with a group of business leaders at the presidential office in Seoul on June 13, 2025. Also at the meeting were LG Group Chairman Koo Kwang-mo (L), Samsung Electronics Co. Chairman Lee Jae-yong (2nd from L), Hyundai Motor Group Executive Chair Euisun Chung (2nd from R) and Lotte Group Chairman Shin Dong-bin. (Pool photo) (Yonhap)
    Image: Yonhap
    In this file photo, President Lee Jae Myung (C) attends a meeting with a group of business leaders at the presidential office in Seoul on June 13, 2025. Also at the meeting were LG Group Chairman Koo Kwang-mo (L), Samsung Electronics Co. Chairman Lee Jae-yong (2nd from L), Hyundai Motor Group Executive Chair Euisun Chung (2nd from R) and Lotte Group Chairman Shin Dong-bin. (Pool photo) (Yonhap) Source Full size
  • President Lee Jae Myung (L) speaks during a meeting with chiefs of major conglomerates to discuss ways to increase jobs for young people and regional investment at Cheong Wa Dae in Seoul on Feb. 4, 2026. (Yonhap)
    Image: Yonhap
    President Lee Jae Myung (L) speaks during a meeting with chiefs of major conglomerates to discuss ways to increase jobs for young people and regional investment at Cheong Wa Dae in Seoul on Feb. 4, 2026. (Yonhap) Source Full size
  • Chinese Ambassador to South Korea Dai Bing speaks during an interview with Yonhap News Agency at the Chinese Embassy in Seoul on Feb. 2, 2026. (Yonhap)
    Image: Yonhap
    Chinese Ambassador to South Korea Dai Bing speaks during an interview with Yonhap News Agency at the Chinese Embassy in Seoul on Feb. 2, 2026. (Yonhap) Source Full size
  • President Lee Jae Myung (L) speaks during a meeting with chiefs of major conglomerates to discuss ways to increase jobs for young people and regional investment at Cheong Wa Dae in Seoul on Feb. 4, 2026. (Yonhap)
    Image: Yonhap
    President Lee Jae Myung (L) speaks during a meeting with chiefs of major conglomerates to discuss ways to increase jobs for young people and regional investment at Cheong Wa Dae in Seoul on Feb. 4, 2026. (Yonhap) Source Full size
  • In this file photo, President Lee Jae Myung (C) attends a meeting with a group of business leaders at the presidential office in Seoul on June 13, 2025. Also at the meeting were LG Group Chairman Koo Kwang-mo (L), Samsung Electronics Co. Chairman Lee Jae-yong (2nd from L), Hyundai Motor Group Executive Chair Euisun Chung (2nd from R) and Lotte Group Chairman Shin Dong-bin. (Pool photo) (Yonhap)
    Image: Yonhap
    In this file photo, President Lee Jae Myung (C) attends a meeting with a group of business leaders at the presidential office in Seoul on June 13, 2025. Also at the meeting were LG Group Chairman Koo Kwang-mo (L), Samsung Electronics Co. Chairman Lee Jae-yong (2nd from L), Hyundai Motor Group Executive Chair Euisun Chung (2nd from R) and Lotte Group Chairman Shin Dong-bin. (Pool photo) (Yonhap) Source Full size

Corporate Pledge Secured at Cheong Wa Dae Meeting President Lee Jae Myung convened the heads of the nation’s ten largest chaebols on February 4, obtaining commitments totaling 270 trillion won (US$186 billion) for investment in regional areas over the next five years [1]. The pledge was presented as a binding financial plan to be allocated across five designated regional hubs and three self‑governing provinces [1]. CEOs pledged to align future capital spending with the government’s regional development blueprint, marking the first large‑scale corporate commitment to the policy [1].

Top CEOs Discuss Youth Employment Strategies The summit gathered Samsung Electronics Chairman Lee Jae‑yong, Hyundai Motor Group Executive Chair Euisun Chung, LG Group Chairman Koo Kwang‑mo and other leaders to explore mechanisms for creating jobs for young South Koreans [1][2]. Both articles note that the president will press firms to expand hiring of recent graduates and to locate new factories outside Seoul, where land and utility constraints have limited expansion [1][2]. The dialogue builds on a prior meeting with foreign business chambers, indicating a sustained governmental push on youth labor market issues [2].

Government Outlines Regional Hub and Province Plan Lee announced a strategy to develop five major regional hubs complemented by three special self‑governing provinces, aiming to decentralize economic activity from the capital [1]. The plan includes special legislation to establish renewable‑energy industrial complexes and “energy cities,” granting greater fiscal weight to distant regions when allocating resources [1]. Federation of Korean Industries chair Ryu Jin confirmed that the top ten firms will channel the pledged funds into these designated areas within the five‑year horizon [1].

Legislative Measures Target Renewable Energy Zones The administration intends to pass laws creating renewable‑energy zones and to support “energy cities” that will host clean‑power infrastructure and related industries [1]. These measures are designed to attract corporate investment by offering incentives and streamlined permitting for projects in under‑developed regions [1]. The policy reflects Lee’s argument that improved transport and communications now make regional sites more viable for large‑scale production [1].

China Responds with Constructive Stance on Peninsula Issues On February 3, Chinese Ambassador Dai Bing said Beijing would play a “constructive role in our way” to support peace on the Korean Peninsula, praising Lee’s efforts to ease inter‑Korean tensions [3]. Dai also announced the removal of a contested fixed platform in the Yellow Sea, describing it as a civilian aquaculture structure, to reduce maritime disputes [3]. The statement links China’s diplomatic posture to the broader context of Lee’s regional and youth‑employment initiatives, suggesting external approval of Seoul’s domestic reforms [3].

Sources

Timeline

Dec 2 2025 – President Lee Jae Myung pledges a phased denuclearisation of the Korean Peninsula, sets a target to start formal talks within six months and aims for a full agreement by 2030, while reaffirming the U.S. security alliance [30].

Dec 2 2025 – Lee calls for restoring inter‑Korean hotlines and other diplomatic contacts, arguing that reopening channels will reduce tensions and enable dialogue [29].

Dec 3 2025 – Foreign Minister Cho Hyun stresses that diplomatic engagement with North Korea must accompany deterrence, urging de‑escalation and the resumption of talks [28].

Dec 4 2025 – Kim Jong Un declares that expanding North Korea’s nuclear capabilities is essential to counter a “geopolitical crisis,” signalling a hardening stance [17].

Dec 18 2025 – Seoul asks Beijing to help create conditions for renewed North‑Korean talks; China’s Ma Zhaoxu affirms a constructive role and both sides discuss the disputed Yellow Sea steel structures [24].

Dec 30 2025 – Lee announces his upcoming four‑day state visit to China, the first by a South Korean president since 2017, aiming to restore a “strategic cooperative partnership” and seek Beijing’s help on the Korean Peninsula [23].

Jan 2 2026 – Cheong Wa Dae confirms that Lee and Xi will hold a bilateral summit in Beijing on Monday [22].

Jan 2 2026 – Lee prepares to meet Xi, then travel to Shanghai, focusing on supply‑chain cooperation, North‑Korean security and urging China to play a constructive role in Korean‑Peninsula peace [21].

Jan 3 2026 – Korean media highlight the upcoming Xi meeting, Lee’s reaffirmation of the One‑China policy, and concerns over AI, the KOSPI and China’s unofficial ban on Korean cultural content [20].

Jan 4 2026 – Lee departs Seoul for Beijing, launching his first presidential visit to China since 2019, travelling with a 400‑person business delegation [19].

Jan 4 2026 – Lee lands in Beijing, begins a four‑day state visit centred on North‑Korea, trade and cultural exchanges, and reiterates South Korea’s One‑China stance in a CCTV interview [18][5].

Jan 4 2026 – North Korea fires ballistic missiles toward the East Sea ahead of its party congress, adding volatility to Lee’s diplomatic agenda [5].

Jan 5 2026 – Lee and Xi open talks in Beijing, stressing denuclearisation on the peninsula and expanding economic and cultural ties; the meeting follows Xi’s earlier APEC encounter with Lee [16].

Jan 5 2026 – Both leaders publicly back the resumption of dialogue with North Korea, underscoring the priority of Korean‑Peninsula diplomacy [15].

Jan 6 2026 – Lee meets Xi, describes the visit as a “crucial opportunity” to usher in a new phase of South‑Korea‑China relations, signs cooperation deals in technology, trade and the environment, and raises security cooperation on North Korea [1].

Jan 7 2026 – Lee returns to Seoul after the China trip, says he expects China to remove at least one of the three Yellow Sea steel platforms and reiterates his request for Xi to mediate on Korean‑Peninsula issues [13][12].

Jan 7 2026 – Lee tells reporters he asks China to act as a mediator on North‑Korean nuclear matters, noting that inter‑Korean channels are “completely blocked” and that “zero trust” remains [14][4].

Jan 7 2026 – Xi acknowledges the request and says China will try to mediate, urging patience as “military pressure makes North Korea extremely nervous” [14].

Jan 7 2026 – Lee highlights China’s informal ban on Korean cultural content, quoting Xi’s metaphor that the “large lump of ice will melt gradually” as talks progress [14].

Jan 7 2026 – Finance Minister Koo Yun‑cheol pledges deeper cultural cooperation with China, planning a phased revival of arts, sports, tourism and media exchanges after the summit [6].

Jan 12 2026 – Lee urges deeper Korea‑Japan cooperation ahead of the Nara summit, stressing shared values and the need to complement each other on regional challenges [11].

Jan 12 2026 – Prime Minister Sanae Takaichi hosts Lee in Nara for the first full summit, focusing on trade, security and cultural ties, and schedules a visit to the historic Hōryū‑ji temple [3].

Jan 13 2026 – Lee and Takaichi meet in Nara, pledge to boost bilateral cooperation, discuss North‑Korea and China‑Japan tensions, and note that lifting Fukushima‑related import bans is needed for South Korea’s TPP accession [2].

Jan 20 2026 – Foreign Minister Cho Hyun announces plans to seek a one‑on‑one meeting with Chinese FM Wang Yi in the first quarter to address Yellow Sea platform disputes and the unofficial Korean‑content ban [10].

Jan 21 2026 – Lee vows a diplomatic push to restart North‑Korea‑U.S. talks, restore the 2018 inter‑Korean military agreement, and warns that North Korea can produce 10‑20 nuclear weapons per year and advance ICBM technology [8][9].

Jan 21 2026 – Lee predicts the won will firm to around 1,400 per USD within one‑to‑two months and outlines measures to stabilise the foreign‑exchange market [7].

Jan 21 2026 – A Seoul court prepares to deliver a verdict on former Prime Minister Han Duck‑soo’s alleged role in the 2024 emergency martial‑law order, a case that could set a precedent for political accountability [7].

Jan 21 2026 – Prime Minister Kim Min‑seok plans a U.S. visit to meet senior officials and possibly Vice President J.D. Vance, marking his first overseas trip as prime minister [7].

Jan 21 2026 – Hanwha Defence appoints former Canadian Navy officer Glenn Copeland as CEO of its Canadian unit to lead the Ottawa submarine‑bid effort [7].

Jan 21 2026 – Cultural authorities grant conditional approval for BTS to film at historic Seoul sites, reflecting a broader cultural‑diplomacy push [7].

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