President Moon Jae-in highlighted the importance of employing and fostering young people, saying personnel development is a corporation's surest investment market.

At a luncheon with the heads of conglomerates on Monday, Moon said the nation, small in size and scarce in natural resources, was able to become advanced due largely to outstanding and abundant human resources.

Touting conglomerates like Samsung and Hyundai Motor for their efforts in fostering world-class personnel, the president pledged continued support for job creation, which he said should be led by businesses.

The luncheon was attended by Samsung Electronics Vice Chairman Lee Jae-yong, Hyundai Motor Group Chairman Chung Eui-sun, SK Group Chairman Chey Tae-won, LG Group Chairman Koo Kwang-mo and others.

The conglomerates are participating in the public-private "Youth Hope On" project to create jobs for young people.