Seoul, June 8 (AHN) South Korean President Lee Jae Myung said Monday the government will work to secure "absolute competitiveness" in advanced technologies to nurture the country into an industrial powerhouse.

The president made the remarks while outlining his policy vision and goals for his second year in office at a press conference marking the first anniversary of his inauguration on June 4 last year.

"By mobilizing all government and private-sector resources, (the government) will secure absolute competitiveness in the advanced technology sector," Lee said, adding the government will soon unveil a large-scale investment project to that end.

The planned investment project will bring about a transformative change in the country's growth strategy, the president noted.

The government will also explore new sectors, besides the semiconductor industry, that can serve as growth engines for future generations, he added.

Lee, however, noted that "fruits of growth" should not be limited only to certain companies, regions or sectors.

"The results and opportunities generated through the resources of the entire community should be broadly spread to small and medium-sized firms, startups, regions across the country and all sectors, leading to changes that can be felt by all people," the president said.

He also pledged a stern crackdown on irregularities and injustices, including stock price manipulation and real estate-related crimes, while vowing to consistently pursue structural reforms aimed at dismantling vested interests.

On the national security front, the president said he will make utmost efforts to achieve "concrete results" in the country's push to secure nuclear-powered submarines and regain wartime operational control of troops from Washington.

The government will also unwaveringly pursue its policy of seeking peace and security on the Korean Peninsula, as well as peaceful coexistence and shared prosperity with North Korea, the president said.

Asked about record profits at semiconductor giants, such as Samsung Electronics Co., the president stressed that the issue of using increased tax revenues stemming from increased corporate earnings is a completely different issue from possible utilization of corporate earnings or imposing additional taxes on such profits, Yonhap news agency reported.

Lee noted foreign firms and local businesses alike may stop investing here or even flee the country should the government try to impose additional taxes on their increased profits, stressing the need for a "cautious approach."

"It is a difficult issue" but one that cannot be ignored altogether, he said, adding the issue may require and soon lead to international discussions.

The remarks came after a labor union at Samsung Electronics recently reached a wage agreement allowing a substantial bonus package for chip employees, following months of threatening a general strike amid booming earnings from the AI-related semiconductor business.

Asked about a well-anticipated rise in tax revenues from the semiconductor boom, the president said such excess taxes may be best utilized by investing for future generations, while noting that handing them out or paying off national debts may be "dumb" moves.

As part of efforts to curb runaway home prices, Lee said that the government may introduce real estate tax reforms as early as next month and a new housing supply plan in the near future.