Lee Jae Myung Denies Pressure Claims, Highlights Semiconductor Legacy

On the 2nd, President Lee Jae Myung addressed claims of "influencing major corporations politically," which surfaced following the recent significant semiconductor investment declaration in the Honam area. He questioned, "In this modern era, would businesses invest solely due to pressure?" Additionally, he dismissed opinions suggesting he exerted influence over Samsung Electronics' chairman, Lee Jae-yong, to ensure the investment as "old-fashioned perspectives."

On the same day, the president participated in an Advanced Industry Briefing Session held in Asan, located in South Chungcheong Province, where he stated, "Current priority areas include promoting balanced regional development, reducing concentration in the capital region, and implementing a growth plan focused on local communities — this is essential for the country's future." Nevertheless, he emphasized, "This doesn’t imply simply distributing benefits. If investment decisions are made based solely on regional grievances, such as allocating some projects in Gwangju because they're involved in semiconductor production, businesses will struggle to function effectively."

He stated, "Resident might become upset or think they're being overlooked, wondering why their neighborhood isn't getting support from large corporations," yet he asked, "What happens if officials also show frustration? Will that result in real progress for the community?" He stressed, "Political action shouldn't just focus on expressing outrage. Rather, it needs to build essential facilities and offer benefits that make businesses say, 'This is the best place to operate.'"

President Lee firmly denied allegations made by certain members of the governing party and the press regarding the government allegedly coercing large corporations. He questioned, "In which reality would businesses move locations solely due to pressure?" He mentioned, "There are still people who cling to the obsolete idea that I exerted influence over Chairman Lee Jae-yong to sway Samsung Electronics' choice." He further stated, "Holding onto the notion that pressure, like during the era of state-managed industries, can produce results is itself outmoded. This kind of method has no place in today’s international environment."

Prior to the event, the president directly identified local officials present: Shin Yong-han, governor of Chungcheongbuk Province; Park Soo-hyun, governor of Chungcheongnam Province; Cho Sang-ho, mayor of Sejong; Heo Tae-jung, mayor of Daejeon; and Oh Se-hyun, mayor of Asan. He emphasized that regional government leaders have an essential role in developing and implementing industry-supporting policies, encouraging strong collaboration to enable high-tech enterprises to seamlessly set up their operations in the Chungcheong area.

The president stated, "Hearing Chairman Lee Jae-yong speak today brought back memories of the late Chairman Lee Byung-chul's groundbreaking announcement in Tokyo in 1983 about entering the semiconductor sector." He added, "That kind of vision helped make South Korea a leading force in semiconductors globally, and I believe Chairman Lee Jae-Yong's choice today will drive a fresh advancement for the country's high-tech sectors, beginning with the Chungcheong area."

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