The Democratic Party announced on July 5 that it plans to actively support follow-up measures for the government's three major mega projects. The party also expressed agreement with the government's intention to establish a future response fund using additional tax revenues to address the needs of future generations, boost South Korea's growth potential, and tackle polarization.
Kang Jun-hyun, the party's chief spokesperson, held a briefing following the ninth high-level party-government meeting, stating, "We agreed on the need to concentrate national capabilities to secure leadership in the AI revolution."
Kang further noted, "To achieve a significant competitive edge in the memory sector and establish South Korea as an irreplaceable semiconductor powerhouse, we will focus on completing production bases early, expanding semiconductor growth hubs nationwide, and seizing the next-generation semiconductor market."
He added, "The party and government also agreed on the importance of infrastructure development. We will proactively expand power infrastructure to meet the high energy demands of semiconductor factories and AI data centers, and establish a multi-source system for stable water supply." The Democratic Party is committed to actively supporting the passage of related legislation to ensure the successful implementation of the three major mega projects.
Additionally, Kang expressed support for the government's plan to use the future response fund for future generations, growth potential, and addressing polarization. He emphasized, "The party, government, and the presidential office will closely cooperate to support the three major mega projects and establish the future response fund."
However, a specific roadmap for the future response fund has yet to be established. After the briefing, Kang told reporters, "Today, the government discussed the purpose and direction. We plan to create a forum for further discussions between the party and government."
Meanwhile, the party and government also discussed the direction of national governance for the second half of the year and legislative strategies for the third quarter. Kang stated, "We will ensure the smooth implementation of the national land transformation project and the three major mega projects to solidify the foundation for local-led growth, and actively support youth growth and independence through expanded tangible policies. We will provide tailored legislative support at each stage of bill promotion and swiftly coordinate bills without inter-departmental disagreements to ensure timely legislation."
* This article has been translated by AI.
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