Launch of Kim Jong-in's Economic Innovation Committee... Outlining Blueprints for Basic Income and Data Cheong

Kim Jong-in, the emergency committee chairman of the United Future Party, is attending the emergency committee plenary meeting held at the National Assembly on the 11th and delivering an opening remark. Photo by Yoon Dong-joo doso7@

[Asia Economy reporters Lee Ji-eun and Lim Chun-han] The 'Economic Innovation Committee,' the first subcommittee under the Emergency Response Committee of the United Future Party, was launched on the 11th. First-term lawmaker Yoon Hee-sook, a former researcher at the Korea Development Institute (KDI), was appointed as the chairperson and plans to draw up concrete blueprints for key issues raised by Emergency Response Committee Chairman Kim Jong-in, including basic income, the establishment of a Data Agency, and education reform. Meanwhile, voices within the party have expressed doubts about the 'feasibility' of the issues raised by Chairman Kim.

Chairman Kim said to reporters immediately after the Emergency Response Committee meeting held at the National Assembly on the same day, "Since Representative Yoon is someone who has fundamentally studied the economy extensively as an incumbent, I entrusted her because I believe that if the direction is well set, she can lead the committee well." The United Future Party’s Emergency Response Committee approved the appointment of Chairperson Yoon and other members of the Economic Innovation Committee during the meeting.

The Innovation Committee will outline Chairman Kim’s policy framework, including basic income, expansion of employment insurance, improvement of platform workers’ treatment, establishment of the Data Agency, K-Healthcare, and reshoring. The new Chairperson Yoon, who will lead the Economic Innovation Committee, previously served as a professor at the Graduate School of International Policy at KDI and as head of the Fiscal Welfare Policy Research Department. She gained attention for publishing columns strongly criticizing the Moon administration’s labor and welfare policies.

Additionally, the Innovation Committee will have three subcommittees: ▲Inclusive Economy ▲Dynamic Economy ▲Sustainable Economy. The Inclusive Economy Committee includes members such as Kim Won-sik, Vice President of the Korean Economic Association; Kim Jong-dae, former Chairman of the National Health Insurance Service; Ahn Myung-ok, former Vice President of the Korean Hospital Association; Kim Yong-ha, former Director of the Health and Social Research Institute; and Kim Dae-il, Professor of Economics at Seoul National University. The Dynamic Economy Committee includes Professor Choi Byung-il of Ewha Womans University Graduate School of International Studies, Professor Kwon Nam-hoon of Konkuk University’s Department of Economics, and Representative Lee Young. The Sustainable Economy Committee includes Representative Yoon Chang-hyun, Visiting Professor Park Hyung-soo of Yonsei University’s Department of Economics, Emeritus Professor Yeom Myung-bae of Chungnam University’s Department of Economics, and Professor Lee Young of Hanyang University’s Department of Economics and Finance.

On the same day, Chairman Kim also proposed establishing a Higher Education Deliberation Committee within the National Assembly to bring about changes in university education. This expands the scope of issues from elementary education, such as full-day childcare and full-day school systems, to higher education. During the Emergency Response Committee meeting, he emphasized, "To close the super-gap, fundamental changes in university education are necessary," adding, "Apple Inc.’s market capitalization reaches 1,500 trillion dollars, which is equivalent to our country’s gross domestic product (GDP). This is exactly the super-gap we are talking about."

Chairman Kim also questioned, "Do we have enough professors capable of adequately teaching artificial intelligence (AI), data science, and other subjects related to the Fourth Industrial Revolution at universities?" He proposed, "To discuss comprehensive issues and pioneer new university education, let’s establish a Higher Education Deliberation Committee within the National Assembly."

Meanwhile, voices within the party have expressed skepticism about the feasibility of the issues Chairman Kim has been raising day after day. Representative Jang Je-won wrote on Facebook on the morning of the same day, "These are dream policies. Just hearing them makes me proud. However, I think we need to ask about their feasibility," warning, "If we only talk and fail to implement, we will become a 'boy who cried wolf' party."