[Exclusive] Ruling Party Balanced Growth Committee to Boost Special Act for Mega-Special Economic Zones

The Democratic Party of Korea, along with the government and the presidential office, is organizing a policy meeting to discuss this year's key legislative tasks for balanced growth and to advance the "5 Zones and 3 Special Mega Hubs Support" initiative, which is a major national agenda item for the Lee Jae-myung administration.

The Special Committee on National Balanced Growth of the Democratic Party of Korea (Chairperson Kim Tae-nyeon) will hold a policy consultation on major balanced growth issues with the government and the presidential office at the National Assembly on April 22 in the afternoon. Key ministries related to balanced growth-including the Office for Government Policy Coordination, Ministry of the Interior and Safety, Ministry of Trade, Industry and Energy, Ministry of SMEs and Startups, and Ministry of Land, Infrastructure and Transport-will gather to discuss strategies for advancing this year’s priority legislative agenda.

Kim Tae-nyeon, Chairperson of the National Balanced Growth Special Committee of the Democratic Party of Korea. Photo by Yonhap News Agency

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From the party, Chairperson of the Special Committee Kim Tae-nyeon, Chun Joonho, Acting Floor Leader (Senior Deputy Floor Leader), and Han Jeongae, Policy Committee Chairperson, will participate. From the presidential office, Hong Ikpyo, Chief Presidential Secretary for Political Affairs, will attend.

The party, government, and presidential office are expected to put their weight behind the enactment of the Special Act for Mega Hubs. At the policy coordination meeting on April 16, Policy Committee Chairperson Han Jeongae stated, "Through the mega hubs, we expect to achieve both balanced regional growth in the '5 Zones and 3 Special' areas and foster national strategic industries," adding, "We will swiftly promote the enactment of the tentatively titled 'Special Act on Mega Hubs,' which will serve as the institutional foundation for the mega hubs, to ensure legislative support."

President Lee Jae-myung also emphasized the promotion of the 5 Zones and 3 Special Mega Hubs initiative for balanced regional growth at the first plenary meeting of the Presidential Regulatory Rationalization Committee. Once designated as mega hubs, these areas will receive regulatory exemptions and financial and fiscal support at the government level. In particular, a "menu-style regulatory exemption" system will be applied, allowing businesses and local governments to choose the regulatory relief items they need, thereby establishing a demand-driven regulatory framework.

In addition, discussions are expected to cover topics such as the Special Act on the Administrative Capital, smart manufacturing innovation, and issues related to regional pledges.

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