Lee Jae-myung "Subway Lines 1, 2, 4 and Yangjae-Hannam Gyeongbu Section to be Underground"

"Making Seoul a Top 10 Global Startup City"
Seoul Pledges... "Will Supply Large-Scale Housing"

Lee Jae-myung, the Democratic Party presidential candidate, is delivering opening remarks at the emergency inspection meeting of the COVID-19 Crisis Response Special Committee titled "K-Quarantine! Evolving One Step Further with Scientific Quarantine," held at the National Assembly on the 21st. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Koo Chae-eun] Lee Jae-myung, the presidential candidate of the Democratic Party of Korea, announced his Seoul regional pledges on the 21st. He plans to make Seoul one of the top 10 startup cities and a hub for finance, cultural content, and advanced industries.

Along with this, he included plans to underground aging urban railways and highways and to accelerate the expansion projects of transportation networks underway across Seoul. The candidate promised to present large-scale housing supply measures.

On the day, Lee visited the Eunpyeong Hanok Museum and said, “Cities leading the world economy and culture have constantly changed. Paris, London, New York, Berlin, and San Francisco have been models for countries worldwide over the past 200 years. And now, the world is paying attention to Seoul, the capital of the Republic of Korea.” He emphasized, “If we turn the crisis of the global great transformation into an opportunity, it is not impossible for Seoul to stand alongside these cities,” adding, “I will make Seoul more dynamic, diverse, and creative than anywhere else.”

Lee plans to nurture Seoul as one of the world’s top 10 startup cities and develop it as a hub for tourism and cultural content industries. He said, “Seoul ranked 21st in 2020 and 16th in 2021 as a startup city and continues to grow,” and added, “We will support innovative companies leading the Fourth Industrial Revolution era to start and grow in Seoul, making it one of the top 10 startup cities.”

By region, he plans to foster clusters focused on information and communication technology (ICT) in Magok and Guro/Geumcheon’s G-Valley (Gasan Digital Complex), AI in Yangjae, pharmaceuticals and bio in Hongneung and Changdong commercial areas, and social ventures in Seongsu and Mapo. Yeouido is envisioned to develop into an Asian financial hub comparable to New York, London, and Hong Kong. In the Sangam DMC area, broadcasting, cultural content industries, and gaming infrastructure will be expanded, and the exhibition and convention industry will be developed centered around the international exchange complex district near COEX and Jamsil Stadium. The K-POP dedicated theater ‘Seoul Arena’ under construction in Changdong will also be completed ahead of schedule.

He also proposed infrastructure investment plans for Seoul’s development. Lee stated, “Major railways and roads on the surface divide regions and hinder development,” and pledged, “We will promote the undergrounding of railways and roads under the principle that people are on the surface and vehicles are underground.”

Specifically, the plan includes gradually undergrounding the above-ground sections of Subway Lines 1, 2, and 4, the Gyeongui Line, the Jungang Line, and GTX-C; undergrounding the Yangjae-Hannam section of the Gyeongbu Expressway; and promptly completing the undergrounding of the Dongbu Expressway. Urban vehicle depots will be relocated or developed in three dimensions to provide citizens with rest and cultural spaces. Lee will also actively promote transportation network expansion, including the express lines of Subway Lines 4, 6, and 7; the GTX-A line; and the extension of the Shinbundang Line. He plans to actively support the Northeast Line of the Gyeongjeon Line, the Myeonmok Line, and the Gangbuk Transversal Line.

Lee also apologized once again for the shortcomings of the Moon Jae-in administration’s real estate policies and stated that he would present large-scale supply measures.