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Prime Minister Han Seong-sook, Han Byeong-do, acting chair and floor leader of the Democratic Party of Korea, and Presidential Chief of Staff Kang Hoon-sik, among other attendees, move to the meeting room after taking a commemorative photo ahead of the high-level consultative meeting between the ruling party and the government held at the Prime Minister's official residence in Samcheong-dong, Jongno-gu, Seoul on July 5. / Photo by Reporter Song Eui-ju

The Democratic Party of Korea, the government, and the presidential office held a high-level consultative meeting on July 5, agreeing to channel all national resources into executing the "Three Mega Projects."

Kang Jun-hyeon, chief spokesperson of the Democratic Party, announced during a press briefing at the National Assembly, "The ruling party and the government agreed on the critical need to focus national capabilities on the Three Mega Projects to seize leadership in the AI revolution." Spokesperson Kang added, "To secure an insurmountable lead in the memory sector and solidify South Korea's position as an irreplaceable semiconductor powerhouse, we will put forth our utmost efforts to fast-track the completion of production hubs, expand semiconductor growth clusters nationwide, and dominate the next-generation semiconductor market." He further stated, "We will provide full support for power and land permits to ensure the seamless construction of AI data centers, and implement support programs to cultivate AI data centers and physical AI into major export industries."

Plans for infrastructure expansion were also on the table. Spokesperson Kang noted, "To meet the massive power demands from semiconductor factories and AI data centers, we will preemptively expand power infrastructure and establish a multi-source water supply framework." He continued, "To ensure that corporate investments in the southwestern region translate into regional growth, we plan to develop a corporate-led high-tech city in the southwest that integrates production, innovation, and residential areas, nurturing it into a secondary semiconductor production hub."

"As the party has already launched a task force to support the Three Mega Projects, we will actively back the necessary follow-up measures, including supporting the passage of related legislation," Kang said. "The government stated that relevant ministries, local governments, and the National Assembly will work as 'One Team' to ensure that large-scale corporate investment plans are executed in a timely manner."

The meeting also addressed the policy direction for the second half of the year. Spokesperson Kang stated, "While focusing all efforts on stabilizing consumer-facing economic indicators such as price stability and employment improvements, we will support economic vitality by stimulating investment and exports. We will also seamlessly execute the National Grand Transformation Project and the Three Mega Projects to firmly establish a foundation for regional-led growth, while actively supporting the growth and independence of young people."

Additionally, key priority bills for the third quarter were selected. Spokesperson Kang mentioned, "We have selected priority legislation for the third quarter by comprehensively factoring in legislative progress, importance, and urgency. We will provide tailored legislative support for each stage of the bill process and swiftly resolve any differences between ministries to ensure timely enactment."

The ruling party, government, and presidential office also discussed the creation of a Future Response Fund. Spokesperson Kang remarked, "The party shared the government's stance on allocating surplus tax revenue toward future generations, South Korea's growth engines, and bridging socioeconomic polarization. We will maintain close cooperation regarding support for the Three Mega Projects and the establishment of the Future Response Fund."

                                                                                                             Shim Jun-bo