Representative Kim Wonyi Introduces Key Bills on "AI and Economic Security" to Fulfill President Lee Jaemyung's Pledges

Simultaneous Enhancement of Industrial Competitiveness and National Economic Security

Kim Wonyi, Member of the National Assembly of the Democratic Party of Korea (Mokpo, Jeollanam-do), has introduced two key bills aimed at responding to the global competition for technological supremacy and threats to economic security, as well as fulfilling President Lee Jaemyung's major campaign pledges.

The bills submitted by Representative Kim on August 6 are the Partial Amendment to the Act on Promotion of Industrial Digital Transformation and Utilization of Artificial Intelligence, and the Partial Amendment to the Foreign Investment Promotion Act.

Kim Wonyi, Member of the National Assembly of the Democratic Party of Korea (Mokpo, Jeonnam)

The amendment to the Act on Promotion of Industrial Digital Transformation and Utilization of Artificial Intelligence is intended to promote the adoption of artificial intelligence (AI) across all industries and to systematically advance digital transformation. In particular, it seeks to revise the current law's title from "Act on Promotion of Industrial Digital Transformation" and to place the utilization of AI technology at the forefront, with the goal of strengthening industrial competitiveness.

Representative Kim emphasized, "As the United States accelerates its Stargate Project and China and the EU push forward with their AI convergence strategies, we also need an institutional foundation to fully implement AI technology in industrial settings."

The amendment includes provisions such as the establishment of comprehensive plans for each industry, the designation of specialized AI companies, and the fostering of leading projects, thereby enhancing the effectiveness of AI-based industrial policy by incorporating AI utilization throughout the law.

The amendment to the Foreign Investment Promotion Act clarifies the legal basis for security review procedures by taking into account the impact of foreign investment on national core technologies and key industries.

Representative Kim explained the purpose of the amendment by stating, "Major countries such as the United States, Japan, the United Kingdom, and Australia have codified security reviews of foreign investment into law, but in Korea, such procedures remain at the level of subordinate regulations, making institutional improvements necessary."

The bill aims to balance national economic security and investment attraction by stipulating foreign investment security review procedures, strengthening the effectiveness of review outcomes, and enhancing predictability for investors.

Representative Kim stated, "These two bills are a legislative effort by the National Assembly to support President Lee Jaemyung's pledges and state affairs agenda," adding, "I will contribute to strengthening both industrial competitiveness and economic security."