Assembly Member Yang Hyang-ja's Proposed 'National Advanced Strategic Industry Act' Submitted to the National Assembly Industry Committee

Promoting Sustainable Development and Strengthening the Foundation of Advanced Strategic Industries

Rep. Yang: "Support Measures Such as Establishing a Permanent Special Committee in the National Assembly Are Needed"

[Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] Representative Yang Hyang-ja (Gwangju Seo-gu Eul) introduced the "Partial Amendment to the Special Act on Strengthening and Protecting the Competitiveness of National Advanced Strategic Industries" on August 4, which was submitted to the National Assembly's Industry, Trade, Energy, Small and Medium Enterprises Committee (hereinafter referred to as the Industry Committee) plenary session on the 19th.

It is known that the bill will be discussed through the National Assembly's Industry Patent Subcommittee thereafter.

Led by Representative Yang Hyang-ja as chairperson, members of the People Power Party and domestic semiconductor experts launched the "People Power Party Special Committee for Strengthening Semiconductor Industry Competitiveness" in June.

The National Advanced Strategic Industries Act is one of the "K-Chips Acts," which consists of the Special Act on Strengthening and Protecting the Competitiveness of National Advanced Strategic Industries proposed by the special committee and the Restriction of Special Taxation Act.

Currently, major semiconductor industry countries such as the United States, China, and Taiwan are supporting large-scale national-level concentrated investments and groundbreaking talent development policies to foster the semiconductor industry and other advanced industries. In particular, the United States is pursuing a domestic-first economic policy through initiatives such as the IRA and CHIPS 4.

In contrast, South Korea has continuously raised opinions that support and supplementation are necessary compared to the bold industrial support policies of competing countries. Reflecting this, the partial amendment to the National Advanced Strategic Industries Act discussed at the Industry Committee on August 19 includes provisions to supplement the current law enacted on August 4 and expand benefits.

The main contents of the bill include support for holders of strategic technologies to promote sustainable development and strengthen the foundation of national advanced strategic industries; expedited processing of permits and approvals for designating specialized complexes; matters related to training specialized personnel in strategic industries; provisions on appointment qualification standards for educational public officials and special cases regarding concurrent or dual positions to improve and supplement deficiencies in the current law.

Notably, at a luncheon hosted by the People Power Party Semiconductor Special Committee held at the Presidential Office on the 14th, President Yoon Seok-yeol stated, "Semiconductors are the rice of industry and an important field in the Fourth Industrial Revolution," emphasizing that "our survival depends on it," demonstrating the government's strong commitment to fostering advanced industries.

Representative Yang said about the bill, "This is a bill that will determine whether South Korea advances as a global technology hub or falls to the periphery," adding, "It is a time when continuous support and fostering are necessary through the swift passage of the bill and the prompt establishment of a permanent special committee in the National Assembly."

She also emphasized, "Advanced industries including semiconductors should not become tools of political strife," and added, "I hope that the swift passage of the bill, accompanied by budget allocation, will become a foothold to secure global super-gap technologies."

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