As the Constitutional Court confirmed the impeachment judgment date for President Yoon Suk-yeol on the 4th, the leadership of the People Power Party met with the AI (artificial intelligence) and venture industries, promising regulatory innovation and financial support. While distancing itself from the external protests urging the dismissal of the impeachment within the party, it is expected to maintain a 'two-track' strategy to continue its 'people’s economy' initiatives until the impeachment ruling date.
The leadership of the People Power Party visited the 'Seoul AI Hub' in Seocho District, Seoul, that morning to hold a meeting with the AI industry. The purpose was to meet with those working at AI-related startups to listen to their difficulties and suggestions for policy improvements.
During the meeting, the People Power Party emphasized the need for national-level support for nurturing the AI industry and stated that it would reflect at least 2 trillion won in the supplementary budget proposed by the government and the ruling party.
Kwon Young-se, the head of the emergency response committee, remarked, "There are currently no corporations in the AI sector that can lead the global market," adding, "The government needs to support the development of large language models (LLM) and the establishment of computing centers as core infrastructure, and it must provide a legal and institutional framework that allows startups and small and medium-sized enterprises, the main players in the AI ecosystem, to actively utilize technology."
Kim Sang-hoon, the chairman of the policy committee, noted, "There seems to be a need for more graphics processing units (GPU), more investment, and more support," emphasizing, "This year's main budget has about 1.8 trillion won for AI-related expenses, and we are in discussions with the government about arranging at least 2 trillion won in the supplementary budget."
Kweon Seong-dong and other leadership members attended the 'Field Meeting to Revitalize the Innovation Venture Industry' held in Guro District, Seoul, that afternoon to discuss plans for activating the venture industry.
Representative Kwon emphasized, "Due to high interest rates and high inflation, research and development expenses are increasing, and as economic uncertainty rises, venture investments are decreasing. Securing talent is also difficult, and the rigid 52-hour workweek regulations make it impossible for those who are present to work effectively. Now we must change for survival."
Kim Sang-hoon, the chairman of the policy committee, said, "Venture companies are the hope of the Korean industrial sector," adding, "Based on the success stories of venture companies, I will work to ensure that our economy can regain vitality through legislative support from the National Assembly and policy support from the government."
The venture industry suggested to the ruling party initiatives including ▲expanding tax benefits ▲strengthening and diversifying investment support ▲participating in networking meetings of the National Assembly and the venture startup sector called 'Dream of Innovation (tentative name)'.
The leadership of the People Power Party plans to maintain its 'two-track' strategy until the impeachment ruling date for President Yoon on the 4th. The party leadership is drawing a line in response to demands for participation in external protests against impeachment within the party, while continuously pursuing initiatives aimed at the centrist voters. A parliamentary official mentioned, "It is unlikely that the party leadership will participate in the external protests being requested within the party." On the 3rd, the party plans to hold a governmental consultative meeting to prepare measures for dealing with the damages from the recent forest fire incidents.