Ruling Party Launches Mega Growth Special Committee to Tackle Mega Projects and Five Mega-Regions Policy at Once

[Financial News] The Democratic Party of Korea officially launched its "Mega Growth Special Committee" on the 31st and will push ahead with a package of locally led growth policies centered on three major mega projects, mega special zones, and the Five Mega-Regions and Three Special Self-Governing Provinces Policy. The party plans to bring together large-scale industrial projects and balanced national growth strategies that had previously been pursued separately, and to speed up legislative and budgetary support through a single committee.
At the first meeting of the Mega Growth Special Committee held at the National Assembly, party leader Kim Min-seok said, "We announced 10 special bodies related to our party's direction under the name 'Mega Ten,' and the most important among them is the Mega Growth Special Committee." He added, "We will directly plan and take responsibility for it over the next four years."
The Mega Growth Special Committee is an expanded body that integrates the existing special committee for supporting the three major mega projects and the special committee on balanced national growth. It will simultaneously promote large-scale industrial projects such as semiconductors, embodied AI, and AI data centers, along with locally led growth based on the Five Mega-Regions and Three Special Self-Governing Provinces Policy. The committee also plans to develop regional growth strategies that include areas relatively left out of previous local growth plans, such as northern Gyeonggi region and border areas in Gangwon State.
Lee Kwang-jae, chairperson of the National Assembly's Special Budget Settlement Committee, will serve as the committee's senior vice chairperson. Kim Kyung-soo, former chairperson of the committee on local era policy, and Kwon Chil-seung, the Democratic Party's policy committee chairperson and former minister of SMEs and Startups, will also participate as standing vice chairpersons. The party also decided to appoint regional lead members, including Heo Young for Gangwon State, Ahn Ho-young for North Jeolla Province, Kim Doo-kwan, former governor of South Gyeongsang Province, for the Busan-Ulsan-Gyeongnam area, Bok Ki-wang for the Chungcheong region, Heo Jong-sik for Incheon, and Kim Young-bae for Seoul.
Wrapping up the meeting, Kim said, "Our ultimate goal is not only to create a 'mega' that transforms South Korea, but also to make each region into 'Mega North Jeolla,' 'Mega Chungcheong,' and 'Mega Gwangju–South Jeolla.'" He added, "Let us ensure mega growth by becoming a Democratic Party that works quickly and delivers results."
[email protected] Song Ji-won Reporter