Ruling Party to Focus on 'Mega Projects'... Plans to Pass Special Zone and Water Management Bills

[Financial News] The Democratic Party of Korea (DPK) said it will concentrate its efforts on passing related legislation, including the Special Act on Mega Regulatory Free Zones, the Framework Act on Water Management, the Waterworks Act, and the Industrial Sites and Development Act, to support the Lee Jae Myung administration's three major economic leap-forward projects.
Han Byung-do, acting leader and floor leader of the DPK, said at the National Assembly's policy coordination meeting on the 2nd, "We will spare no support at the parliamentary level so that the three mega projects can lead to a great leap forward for South Korea and balanced national development."
The party's push to fast-track the bills appears aimed at easing concerns in political circles that securing power and water for semiconductor plants could become difficult. The Framework Act on Water Management and the Waterworks Act fall under the National Assembly Committee on Climate, Energy, Environment and Labor, while the Industrial Sites and Development Act is under the Land, Infrastructure and Transport Committee. In addition, the special act on mega regulatory free zones, which would spell out regulatory exceptions and simplified procedures, is expected to fall under the Trade, Industry, Energy, SMEs and Startups Committee once introduced. However, since the only standing committee chaired by a DPK lawmaker has already been confirmed as the climate committee, the party is expected to prioritize the water supply bills.
Han added, "The party and the government will pursue the mega projects with everything at stake," and "We will build an artificial intelligence ecosystem linking semiconductors, Physical AI, and AI data centers to realize an unrivaled K-semiconductor powerhouse."

jiwon.song@fnnews.com Song Ji-won Reporter