The government and the ruling Democratic Party confirmed their commitment to swiftly implement economic growth strategies for the second half of 2026, aligning with President Lee Jae-myung's declaration for a major leap forward in South Korea. The party pledged full support for related legislation and budgetary measures.
On the morning of July 13, the Democratic Party and the government held a meeting at the National Assembly to discuss strategies for accelerating economic recovery and achieving tangible results for the public.
Acting Party Leader Han Byeong-do stated, "It is true that the warmth of economic recovery has not yet reached the alleys, making it difficult for citizens to feel the growth. The pressures of rising prices, high exchange rates, and deepening polarization are also ticking time bombs for the economy." He emphasized the need for growth that benefits all citizens, as highlighted by President Lee.
Han pledged to mobilize all available resources for economic recovery, stating, "We will process related bills, including the special law for the three mega-special zones and the strategic finance export law, by the end of the year. The party has established a dedicated support system, ensuring robust backing for legislation and budgetary measures."
Policy Committee Chair Han Jeong-ae noted, "Today, the party and government will review the management system for livelihood, economic, and policy matters and discuss practical strategies. We will prepare support measures to ensure the smooth implementation of the special committee for the three mega-projects, which was launched on July 10."
In line with the Democratic Party's initiatives, the government reaffirmed its commitment to addressing various economic issues, including the realization of the three mega-projects, local-led growth, and securing supply chains.
Deputy Prime Minister and Minister of Finance Koo Yun-cheol stated, "We will make every effort to maximize the golden opportunity for South Korea to become irreplaceable. Through strategic economic cooperation, we aim to secure supply chains and rebound potential growth rates. The three mega-projects will also be pursued with urgency."
Koo added, "We will build a growth engine of five poles and three special zones to strengthen local-led growth, overcome polarization, and create a year of economic leap toward an irreplaceable South Korea through improvements in pensions, regulations, and safety."
Park Hong-geun, Minister of the Planning and Budget Office, remarked, "We are in a critical situation where we must overcome polarization and secure new growth drivers. We will mobilize all means to support the economic growth strategy for the second half of the year, ensuring that key tasks are meticulously addressed in the field of people's livelihoods."
He also proposed the establishment of a future response fund based on excess tax revenue from semiconductors, fundamental improvements in fiscal structure, and the full-scale launch of local preference projects to overcome polarization.
* This article has been translated by AI.
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