South Korean President Lee Jae Myung (R) applauds as Prime Minister Kim Min-seok speaks during a Cabinet meeting at the presidential office Cheong Wa Dae in Seoul, South Korea, 30 June 2026. Photo by YONHAP / EPA
July 2 (Asia Today) -- South Korean President Lee Jae Myung said Thursday that reducing the country's widening economic divide will be a central test of his administration and called for policies that help young people build assets.
Lee also said the government's recently announced three megaprojects should transform regions across the country into a "Korean version of Silicon Valley" and create new opportunities for younger generations.
Lee made the remarks during a meeting of senior aides at the Blue House, where officials discussed an analysis of government spending for young people and plans to restructure youth policy.
Lee described the widening divide as "K-shaped polarization," a term referring to an economy in which some groups experience rising income and wealth while others fall further behind.
