Opening ceremony of the 49th KCCI Jeju Forum
National Assembly Speaker Jo Jeong-sik on Wednesday agreed with Korea Chamber of Commerce and Industry Chairman Chey Tae-won to establish an "Economic Great Leap Committee" that the two would co-chair.
Jo announced the plan in congratulatory remarks at the 49th KCCI Jeju Forum, held at Jeju Shilla Hotel in Seogwipo. It marks the first time a sitting National Assembly speaker has attended the KCCI's Jeju Forum.
The proposed committee would serve as a standing cooperation platform through which the Assembly and the business community meet regularly to hear about challenges facing industry, work together on solutions and jointly map out future growth strategies for the country.
The initiative builds on discussions held at an "Economic Great Leap Roundtable" on July 1, attended by both Jo and Chey, where the Assembly and business leaders agreed on the need for sustained dialogue and cooperation to overhaul laws and systems suited to an era of sweeping change, including the AI revolution.
"The world is now passing through the midst of a turning point," Jo said. "The AI revolution, the robotics industry, semiconductors and countless advanced industries are reshaping the landscape of Korea's economy."
He added that global supply chains are being restructured amid geopolitical tensions, nationalism and a world order driven by the logic of power. "The National Assembly wants to navigate this complex crisis together with business leaders," he said.
Jo said that while the authoritarian era of the past demanded that companies simply follow the state's top-down directives, the role of politics and government today is to stand alongside businesses as partners sharing a common destiny and support them as they lead the way forward.
"The National Assembly must become a reliable partner and a source of strength for companies racing toward the future," Jo said, adding that bold challenges from the business community must be met with predictable legislation from the Assembly. Through the Economic Great Leap Committee, he said, "the Assembly will create a virtuous cycle by taking timely legislative action to clear the path for companies pursuing innovation."
The two sides plan to use the Jeju Forum as a springboard to flesh out the committee's composition and operating framework.
gil@heraldcorp.com
