Strengthening the Business Community's Legislative Response Capabilities
Formed to Exercise Joint Policy Leadership
Participation from Chairpersons of 74 Regional Chambers Nationwide
The Korea Chamber of Commerce and Industry (KCCI) announced on May 26 that it will launch the 'External Cooperation Committee' to strengthen communication with the National Assembly regarding legislative and policy issues faced by the business community.
The External Cooperation Committee has been established to enhance the business community's capacity to respond to major legislative issues by accurately conveying the realities and demands of companies from the early stages of legislation, and to exercise joint policy leadership. Chairpersons from 74 regional chambers of commerce across the country will participate as committee members.
The committee chairs will be divided among seven regions: the Seoul metropolitan area, central region, Yeongnam region, Honam and Jeju region, and others. Accordingly, Yang Jaesaeng, chairman of the Busan Chamber of Commerce and Industry, and Park Yunkyung, chairman of the Daegu Chamber of Commerce and Industry, will serve as inaugural co-chairs. Nine chairpersons of provincial chamber councils will serve as vice-chairs.
The KCCI stated, "By appointing co-chairs for each region, we plan to gather and coordinate key regional economic issues and ensure that the opinions of local businesses are effectively reflected in policy." The organization also added, "We will focus on developing policies to foster key industries and promote investment in each region, as well as discovering regional coexistence models."
Going forward, the committee plans to maintain ongoing communication with the National Assembly through economic community proposals and joint response strategies for major business-related bills, invitation-based meetings with key standing committees of the National Assembly, and on-site meetings between local constituencies and regional chambers of commerce. In addition, the committee will pursue the introduction of local innovation recipes for a new Korea, such as the implementation of a 'Mega Sandbox' to turn regions into experimental spaces for innovation.
Yang Jaesaeng stated, "Through the External Cooperation Committee, we will support the National Assembly's legislative efforts on regional economic and regulatory issues, and ensure that the local innovation recipes utilizing the Mega Sandbox are properly implemented."
The first meeting will be held at the KCCI Gyeongju Forum in July. Ahead of the regular session of the National Assembly in September, the committee also plans to prepare and submit a book of proposals on behalf of the business community. This proposal book will include reasonable alternatives to various regulatory bills, and the committee will maintain ongoing communication with party leadership, key standing committees, and local lawmakers.
Park Iljun, executive vice chairman of the KCCI, said, "The launch of the External Cooperation Committee is significant in that it greatly expands communication between the business community and the National Assembly." He added, "We will move away from the previous one-way approach to proposals, and instead create a platform for more active participation in the legislative process and substantive consultations between the business community and the National Assembly throughout the legislative process."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
