Opposition Policy Committee to Withdraw from Economic Crisis Response Center... Will Policy Agenda Shift from Economy to Youth?

The Policy Committee, the policy control tower of the Democratic Party of Korea, is withdrawing from the party's Economic Crisis Response Center. Kim Min-seok, newly appointed chairman of the Policy Committee, has stepped down from his position as head of the Economic Crisis Response Center, a party organization, and the Policy Committee's professional committee members and working group will also withdraw from related tasks. The policy direction of the Policy Committee is expected to shift from an 'economic' focus to a 'youth' focus.

A Democratic Party official stated on the 10th, "Chairman Kim instructed that the position of head of the Economic Crisis Response Center be transferred to Representative Hong Sung-guk (current head of the Situation Team)," adding, "It is scheduled to be put on the agenda for next week's Supreme Council meeting."

Chairman Kim mentioned on the 5th at a roundtable hosted by the Economic Crisis Response Center on 'Legislation to Ease the Burden of Loan Interest Rates' that "after discussions, if necessary, we will rename it the 'Economic Crisis Emergency Response Center' and consider having Representative Hong directly take charge as the head of the center."

The Economic Crisis Response Center was launched in February during the term of former Policy Committee Chairman Kim Sung-hwan as an official party organization and has played a leading role in developing the party's economic policies. Representative bills include the 'Bad Bank Fund Establishment Act,' the 'Unfair Interest Refund Prevention Act,' and the 'Depositor Protection Act,' which were emphasized and supported by Lee Jae-myung, the Democratic Party leader, as key legislative initiatives.

[Image source=Yonhap News]

원본보기 아이콘

Within the party, there are concerns that the center's operational momentum may weaken. Although Representative Hong will continue to handle practical tasks such as policy development, the Policy Committee will no longer be involved. A party official pointed out, "We have ordered the withdrawal of the Policy Committee's professional committee members who have been handling the practical work," adding, "Until now, the party leadership, the Policy Committee, and the Democratic Research Institute have collaborated to actively incorporate issues into the party agenda, but in this case, it will be no different from the Livelihood Economic Crisis Countermeasures Committee, which is composed solely of party lawmakers."

At its inception, former Policy Committee Chairman Kim naturally served as the center head and led the work, but with the appointment of Chairman Kim, Representative Hong will take the lead in related tasks. A representative from Chairman Kim's office explained, "The intention is to have an expert in this field take proper responsibility," adding, "The chairman of the Policy Committee believes that 'the person who actually works should be the one in charge.'" The official also said, "We plan to conduct detailed coordination at the working group level over the course of a week." The center's name will be changed from the existing Economic Crisis Response Center to the 'Economic Crisis Emergency Response Center.'

With the change of the Policy Committee chairman, the Democratic Party's policy focus is expected to shift from the economy to the youth sector. Immediately after his appointment, Chairman Kim emphasized support for all universities through the '1,000 Won Breakfast Project' and proposed policies such as exemption from student loan interest and restoration of the Youth Companion Card. On the 6th, at the party's policy coordination meeting, he said, "We will start dialogues with young students to find 100 good youth policies within this year."

In response, Chairman Kim stated in his opening remarks at the party's floor countermeasures meeting on the morning of the 11th, "The Democratic Party has agreed with student organizations to further strengthen dialogue with students," adding, "We will also strengthen our response to the economy."

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.