Democratic Party Meets Korean Chamber of Commerce, Pledges Swift Passage of Special Act on Renewable Energy Self-Sufficient Cities

Korean Chamber of Commerce Proposes Regional Electricity Rate Differentiation
Democratic Party: "We Will Consult with the Government and Provide Feedback on Various Proposals"

The Democratic Party of Korea met with the leadership of the Korean Chamber of Commerce and Industry and pledged to actively support companies' efforts for balanced regional development, including the swift passage of the Special Act on Renewable Energy Self-Sufficient Cities.

Yonhap News Agency

After a closed policy meeting between the Democratic Party and the Korean Chamber of Commerce and Industry held at the Chamber Lounge in the Chamber of Commerce building in Jung-gu, Seoul, on the 16th, Democratic Party spokesperson Kwon Hyangyeop told reporters, "Among the proposals made by the Chamber for balanced regional development, there was a request for the prompt passage of the Special Act on Renewable Energy Self-Sufficient Cities," adding, "In response, the Democratic Party stated that it would do its utmost to ensure the swift passage of the special act."

The Special Act on Renewable Energy Self-Sufficient Cities is designed to promote the use of renewable energy and foster balanced regional development by supplying eco-friendly electricity and industrial sites based on renewable energy, attracting promising growth industries, and creating environmentally friendly energy cities.

Spokesperson Kwon added, "The bill is still pending," and explained, "There have been designations of national artificial intelligence (AI) centers in regions such as Jeonnam, and Ulsan is also seeking to establish an AI center. There were requests for government-level support for these initiatives and for policies to increase the use of domestically produced equipment."

The Chamber also requested solutions to the issue of the saturated power grid in the Seoul metropolitan area and called for differentiated electricity rates for regional businesses. In response to these requests, Kwon stated, "According to the decentralized energy provision in the Electric Utility Act, there are regulations related to the introduction of regionally differentiated electricity rates. We fully recognize the need for this, and since detailed measures are currently being studied by an external professional agency, we agreed to discuss the matter together and actively review it." The need for a production tax credit to address the downturn in the domestic solar power industry was also raised, and the Democratic Party agreed to discuss support measures.

In his public opening remarks, Representative Jung Chungrae emphasized the role of companies in balanced regional development, saying, "When I meet with local government heads, they talk about the crisis of regional extinction and population decline, and inevitably, the topic of attracting businesses comes up. Overcoming the crisis of regional extinction and achieving balanced national development depends greatly on where and how companies build factories and operate."

Jung added, "If companies make suggestions or requests regarding various measures for regional development, the Democratic Party will respond sincerely. For any issues we are unable to address today, we will revisit them in about three months and provide answers."

In his opening remarks, Choi Taewon, Chairman of the Korean Chamber of Commerce and Industry, said, "At today's meeting, a variety of opinions will be presented, including development strategies such as special zone policies, regional power system issues, and ways to attract regional investment. Although a solution may not be reached immediately, I believe that if this meeting serves as a starting point for dialogue, positive solutions can be found."

Spokesperson Kwon said, "We promised to consult with government ministries regarding the various proposals and provide feedback within a month."