Real Estate Followed by Semiconductor Special Committee... Election Defeat Spurs Ruling Party's Early Presidential Election Plan Activation

Series of Special Committees Launched One Year Before Presidential Election
Policy Shift After April 7 By-election Defeat
Focus on Policy Diagnosis Emphasized

Yun Ho-jung: "Expanding Semiconductor Industry Support
Comprehensive Policy to Be Announced in First Half"
Chairperson Yang Hyang-ja, Former Samsung Executive

[Asia Economy Reporter Oh Ju-yeon] The Democratic Party of Korea launched a special committee on semiconductors on the 21st, following the real estate special committee on the 19th. Launching special committees consecutively with just over a year left until the presidential election appears to emphasize a focus on policy diagnosis, albeit belatedly, after the defeat in the April 7 by-elections. Especially since the Blue House sent a message of ‘stable national governance’ through a cabinet reshuffle last week, it also reflects the will to lead policies centered on the party for regime re-creation.

[Image source=Yonhap News]

The newly launched ‘Semiconductor Technology Hegemony War Special Committee (Semiconductor Special Committee)’ reflects a sense of crisis that the domestic semiconductor industry must be protected amid the US-China semiconductor hegemony competition. Recently, voices calling for a national-level response have been growing amid the supply shortage of automotive semiconductors and the overall IT industry and the US-China leadership competition.

Yoon Ho-jung, the floor leader of the Democratic Party, stated at the emergency countermeasure meeting on the morning of the same day, "We are establishing the Semiconductor Special Committee to proactively respond to the semiconductor super cycle by consolidating national capabilities." He added, "We will devise plans to expand support for the semiconductor industry," and "We plan to announce a comprehensive support policy including tax incentives and workforce training by establishing the ‘K-Semiconductor Belt Strategy’ within the first half of the year."

The chairperson is Assemblywoman Yang Hyang-ja. Yang, a former Samsung Electronics employee, has consistently voiced opinions on supporting and fostering the semiconductor industry. Members include Assemblymen Lee Won-wook, Hong Ik-pyo, Kim Byung-wook, Kim Byung-joo, Oh Ki-hyung, Hong Jeong-min, and International Spokesperson Choi Ji-eun. Right after her appointment as chairperson, Yang emphasized on Facebook, "The semiconductor war is escalating beyond the US-China conflict into a world war," adding, "This is a critical moment on which the fate of the Republic of Korea depends. The special committee will take the lead in the semiconductor war." Going forward, the special committee plans to accelerate the introduction of a special law for semiconductor support at the National Assembly level.

Regarding the Democratic Party’s move to strongly signal itself as a policy party by consecutively launching special committees, Professor Park Sang-byeong of Inha University interpreted, "Considering the temporary nature of the special committees, it means they want to put all their efforts into areas where public sentiment is needed (real estate and economy) ahead of the presidential election," and "It is a message that they intend to change the way the party operates compared to before." He also predicted that since the Blue House’s cabinet reshuffle last week emphasized ‘stability’ over ‘reform’ in national governance, party-centered policies will be promoted more in the future.

Professor Choi Chang-ryeol of Yongin University also evaluated, "I think the recognition has begun that if they do not reinvent themselves as a policy party, they will be ignored," and "It is the right direction that they have now come up with policy alternatives after being trapped in factional logic and abstract ideological frames."

This content was produced with the assistance of AI translation services.