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,' emphasizing President Yoon Suk Yeol's goal of making 2026 a year of significant economic advancement.
The Democratic Party pledged strong legislative and policy support for the three mega projects announced by President Yoon.
Acting Party Leader Han Byeong-do stated that the special law for mega special zones will be processed by the end of the year, saying, "We have established a special committee at the party level, and we will robustly support legislation and budgets. Under the principle of a united party and government, we will take extraordinary measures to ensure economic responsibility."
Policy Chair Han Jeong-ae also promised swift support from the National Assembly through the rapid enactment of special laws, stating, "We have requested the government to make bold and prompt investments in infrastructure, such as living conditions and railways, to ensure the success of the mega projects that will retain talent."
Additionally, the party and government announced plans to establish a future response fund focused on investing in the growth potential of the youth and local talent, based on surplus revenue from the semiconductor sector.
After the meeting, Chair Han explained to reporters, "The future response fund announced by Minister 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 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 in a forward-looking manner, which will be submitted to the National Assembly as a government proposal after further discussions."
In particular, the party and government 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."
The party and government 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 income security for the elderly.
Chair Han emphasized, "We have requested the government to prepare systematic measures for securing supply chains and energy following the Middle East conflict, and we have decided to strengthen local-led growth to rebound potential growth rates. Through collective growth, we will overcome polarization and enhance the income security system for basic, national, and retirement pensions. The government will actively work to finalize and announce an economic growth strategy based on these elements."
* This article has been translated by AI.
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