The minister’s Pyeongtaek tour took place as part of a government program to strengthen ties with local businesses and encourage their involvement in job creation and innovative growth -- the largely underachieved economic agendas of the Moon Jae-in administration.

Starting December last year, Kim has so far visited LG Group, Hyundai Motor, SK Group and Shinsegae Group consecutively. During each event, the conglomerates respectively announced a multitrillion-won investment plan which is to trigger a massive employment effect.

According to data compiled by Statistics Korea, equipment investment in the domestic market remained on a downtrend from March to June this year, marking a fall for four consecutive months for the first time in 17 years and six months.

While pledging to create a substantial number of jobs in the software sector, the Samsung chief also requested for deregulations in the biotechnology industry. according to the minister.

“Though details may not be disclosed due to trade secret issues, there were talks on some of the regulations in the bio industry, as well as proposals concerning the electricity supply of the Pyeongtaek plant and foreign investment,” Kim told reporters, after his close-door meeting with Lee.

“While some issues may be solved relatively swiftly, others required more in-depth consideration.”

Meanwhile, Samsung withheld the largely anticipated announcement of a mid-term investment program amounting up to 100 trillion won ($88.9 billion). President Moon earlier asked Lee for further investment and job creation in the domestic market, while attending the opening ceremony of Samsung Electronics’ new local plant during his state visit to India in early July.

The timeline delay came in the wake of a latest news report which claimed that the Blue House allegedly gestured disapproval over Minister Kim’s pressure upon private businesses for job creation.

Despite constant denial, the presidential office -- especially Chief of Staff for Policy Jang Ha-sung -- has been pictured as being at odds with Kim over key economic affairs, including the pace of the legal minimum wage hike.

“Reports suggest that (Cheong Wa Dae) told (Kim) not to ‘beg for job creation’ but this is not true,” said presidential spokesperson Kim Eui-kyeom in a regular briefing.

Minister Kim also explained that the suspension of the investment plan was due to the lack of time, as Lee had just returned from his trip to Europe.

“I expect that (Samsung) will reveal (the details) within the near future, but it is entirely up to Samsung to decide,” Kim said.

By Bae Hyun-jung (tellme@heraldcorp.com)