President Lee Jae Myung said he will promptly enforce the relocation of the oceans ministry and related agencies to the southeastern port city of Busan, although he is uncertain whether the ministry’s relocation can be completed by the end of the year.

At a town hall meeting at Pukyong National University in Busan on Friday, Lee stressed that speed is important in administrative affairs, saying he intends to cut down the time required to establish a maritime court and a regional investment bank in the port city.

The president stressed that balanced regional development is an important national survival strategy, saying the administration is working out a plan for the southeastern areas of Busan, Ulsan and South Gyeongsang Province centered on port logistics.

Lee then called for Busan to accelerate preparations and seize the opportunity to become a shipping logistics hub in Northeast Asia, should countries begin to use Arctic shipping routes due to climate change.

Lee also called for the swift implementation of Presidential Committee for Balanced National Development chief Kim Kyoung-soo’s plan to create a megacity in the southeastern region, saying the fate of such initiatives depends on the government’s determination.