The Democratic Party and the government have reached a consensus on swiftly advancing economic growth strategies for the second half of 2026, including the 'three mega projects' and a future response fund based on surplus revenue from the semiconductor sector.
On July 13, the two sides held a meeting at the National Assembly to discuss the '2026 Economic Growth Strategy for the Second Half of the Year,' emphasizing President Yoon Suk Yeol's goal of making 2026 a year of significant economic advancement.
The Democratic Party pledged robust legislative and policy support for the three mega projects announced by President Yoon.
Acting Party Leader Han Byeong-do stated that the party would process the special law for mega special zones by the end of the year, saying, "We have established a special committee at the party level and will solidly support legislation and budget. We will take extraordinary measures to ensure economic responsibility under the principle of a united government and party team."
Policy Chair Han Jeong-ae also promised active support from the National Assembly through the swift enactment of special laws, stating, "To ensure the success of the mega projects, we request the government to make bold and rapid investments in living conditions and infrastructure, such as railways, to retain talent."
Additionally, the two sides announced plans to establish a future response fund focused on investing in the growth potential of the youth and local talent, based on the semiconductor surplus revenue.
After the meeting, Chair Han explained to reporters, "The future response fund announced by Minister of Planning and Budget Park Hong-geun is currently under discussion among government officials. It is true that additional revenue beyond existing tax accounts is becoming visible by 2030. We need to incorporate this response fund into next-generation growth and youth-related areas."
He added, "There was a consensus with the government to establish a future response fund to execute the surplus revenue with a forward-looking approach, which will be submitted to the National Assembly as a government proposal after further discussions."
Furthermore, the two sides discussed real estate supply policies, as President Yoon is set to preside over a real estate forum on July 23.
Chair Han stated, "The government plans to submit a real estate tax reform proposal to the National Assembly after the forum, and we have requested that the government actively implement supply measures targeting young people and households purchasing their first homes."
Meanwhile, the government and the Democratic Party plan to include a comprehensive response system for people's livelihoods in the second half of the economic growth strategy, addressing macroeconomics, local-led growth, polarization improvement, and old-age income security.
Chair Han emphasized, "We have requested the government to prepare systematic measures for securing supply chains and energy following the Middle East conflict and agreed to strengthen local-led growth to rebound potential growth rates. We will work to overcome polarization through inclusive growth and enhance the income security system for basic, national, and retirement pensions. The government will actively strive to finalize and announce an economic growth strategy based on these elements."
* This article has been translated by AI.
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