The nation's ten largest conglomerates have pledged a total of some 270 trillion won in regional investments over the next five years. That’s equivalent to 185-point-seven billion U.S. dollars.

Federation of Korean Industries(FKI) Chairman Ryu Jin disclosed the pledge on Wednesday during a business roundtable chaired by President Lee Jae Myung at the top office.

Participants included Samsung Electronics Chief Lee Jae-yong and Hyundai Motor Chairman Chung Eui-sun.

Ryu said if investment by companies other than the ten conglomerates is also included, the amount of regional investment could be estimated at 300 trillion won.

Describing youth unemployment as a serious problem deeply linked to regional economies' difficulties, Ryu said many young adults move to the Seoul metro area in search of jobs while regions other than the capital area are concerned about regional extinction resulting from a shrinking population.

Ryu stressed that it is imperative to break such a vicious circle, saying that with active investment, the business community will aim to breathe new life into regions and provide isolated youths in such regions with job opportunities.

The presidential office said in a separate briefing that the top ten business groups plan to hire a combined 51-thousand-600 this year alone, up by some 25-hundred from last year.

Lee Kyu-yeon, senior presidential secretary for public relations and communications, told reporters during a briefing held after the roundtable, that roughly 34-thousand-200, or two-thirds of the total, will comprise of new recruits rather than qualified and experienced workers.

The FKI chief said businesses will not only create more jobs but also expand job education and training programs, including those related to artificial intelligence. 

Ryu then asked for the government's active support so that such employment plans are carried out smoothly while also calling for support in fostering service industries.