KCCI Holds Meeting with Democratic Party Leadership, Proposes Differentiated Electricity Rates and More (Comprehensive)

Policy Meeting on "Regional Development" Held at Chamber Hall
Attended by Democratic Party Leader Jeong Cheongrae, Chairman Choi Taewon, and Others
Jeong Cheongrae: "We Must Work Together for Balanced Development"
Choi Taewon: "Regional Development Is Not Something We Can Give Up... Let’s Continue the Dialogue"

On December 16, the executive board of the Korea Chamber of Commerce and Industry held a policy meeting with the leadership of the Democratic Party, focusing on regional development. During the meeting, they emphasized the need for a differentiated electricity rate system by region, support for low-carbon steel special zones, and the introduction of a production tax credit for solar energy.

On the 16th, at the Korea Chamber of Commerce and Industry-Democratic Party policy meeting held at the Sangui Hall in Jung-gu, Seoul, Choi Tae-won, Chairman of the Korea Chamber of Commerce and Industry, is delivering a greeting. Korea Chamber of Commerce and Industry

The Korea Chamber of Commerce and Industry hosted the meeting at the Chamber Lounge of Sangyohall in Jung-gu, Seoul, inviting Democratic Party leader Jeong Cheongrae and the party’s policy leadership to discuss and convey these recommendations.

This meeting was organized three months after the previous gathering in September, which was the first since Jeong Cheongrae took office. While the September meeting addressed a wide range of corporate proposals across all economic sectors, this time the focus was on fostering deeper consensus and seeking solutions under the theme of "regional development." Despite the implementation of numerous policies for regional growth, fundamental solutions remain elusive. Recently, issues such as regional industrial crises and population outflow have intensified. In response, the meeting’s theme was set to encourage both political and economic sectors to seek solutions together.

It was also reported that opinions were exchanged on the Distributed Energy Act during the meeting. The Distributed Energy Act provides the legal basis for implementing a differentiated electricity rate system by region. Regarding this, Jeong Cheongrae stated that once the detailed research for the law’s implementation is completed, the party will actively consider applying a regionally differentiated electricity rate system.

There were also calls for support for low-carbon steel special zones in relation to the K-Steel Act, which passed the National Assembly plenary session at the end of last month. Additionally, the business community requested the introduction of a production tax credit to strengthen the competitiveness of renewable energy such as solar power, and the passage of the Special Act on Renewable Energy Self-Sufficient Cities.

From the Democratic Party, attendees included Jeong Cheongrae, Supreme Council member Seo Samseok, Policy Committee Chair Han Jeongae, Industry, Trade, and SMEs Committee Secretary Kim Woni, Climate, Energy, Environment, and Labor Committee Secretary Kim Jooyoung, Strategy and Finance Committee member Jeong Ilyoung, Party Spokesperson Kwon, and Chief of Staff to the Party Leader Kim Younghwan.

From the business sector, attendees included Choi Taewon, Chairman of the Korea Chamber of Commerce and Industry; Yang Jaesaeng, Chairman of the Busan Chamber of Commerce and Industry; Jeong Taehee, Chairman of the Daejeon Chamber of Commerce and Industry; Lee Hyunghi, Vice Chairman of SK Group; Woo Kihong, Vice Chairman of Korean Air; Jeong Yeonin, Vice Chairman of Doosan Enerbility; Park Seunghee, President of Samsung Electronics; Keum Jonghan, President of Hanwha; Heo Minhui, President of CJ; Kim Dongwook, Executive Vice President of Hyundai Motor Company; Park Junseong, Executive Vice President of LG; Lim Seongbok, Head of Communications at Lotte Holdings; Yang Wonjun, Executive Vice President of POSCO Holdings; Ryu Geunchan, Executive Vice President of HD Hyundai; Kim Seongwon, CEO of GS E&R; and Lim Hyeongseop, CEO of Shinsegae Food.

Chairman Choi stated, "Regional development is something we cannot give up on, so the government has been pursuing various policies, and even if fundamental issues are not resolved, we are making continuous efforts." He added, "Although we may not find a solution immediately today, I believe that if we continue our dialogue and discussions from this point forward, we may be able to find positive solutions."

Jeong Cheongrae commented, "In the face of the crisis of regional extinction and population decline, where companies choose to build factories and operate is extremely important for balanced national development." He continued, "I hope we can work together to create the conditions for balanced development."

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