When governments design policies that will shape a country’s economic trajectory for decades, caution is not an option but a prerequisite. Such policies demand far more than clarity of intent; they require painstaking examination of their potential consequences — not only the outcomes policymakers hope for, but also the unintended effects that may emerge over time.

The scale and interconnectedness of the South Korean economy mean that major policy missteps rarely remain isolated — they ripple outward, affecting employment, investment confidence and national competitiveness.

Since taking office, President Lee Jae Myung has consistently emphasized the importance of balanced national development.

The logic underpinning this goal is easy to understand. Population and economic activity have long been concentrated in Seoul and its surrounding metropolitan area, creating structural imbalances that fuel housing pressure, regional decline and social dissatisfaction.

The concentration of people and capital in the Seoul metropolitan area is not a recent phenomenon,

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