Speaker Jo Jungshik: "National Assembly Leads Economic Leap"... 'Economic Great Leap Committee' Launched

Aims to Establish Regular Cooperation Between the National Assembly and the Business Community

National Assembly Speaker Cho Jung-sik has officially launched the "Economic Leap Committee" to establish ongoing cooperation between the National Assembly and the business community. The aim is to channel the voices of the economic sector into legislative reforms and institutional improvements to support the nation’s future growth engines.

On the 9th, the inauguration ceremony of the National Assembly Economic Leap Committee was held at Sarangjae, the National Assembly in Yeouido, Seoul. Attending the inauguration ceremony are Yoo Dongsoo, Chairman of the National Assembly Committee on Economy and Finance (from left), Kim Sungwon, Chairman of the Committee on Industry, Trade, Energy, Small and Medium Enterprises, Cho Jung-sik, Speaker of the National Assembly, Choi Tae-won, Chairman of the Korea Chamber of Commerce and Industry, and Jo Seungrae, Chairman of the Committee on Budget and Economy, posing for a photo. 2026.09.09 Photo by Dongju Yoon

On the morning of September 9, Speaker Cho held the inauguration ceremony for the Economic Leap Committee at Sarangjae within the National Assembly. Speaker Cho and Choi Tae-won, Chairman of the Korea Chamber of Commerce and Industry, will serve as co-chairs, while Kim Sungwon, Chairman of the National Assembly Committee on Industry, Trade, Energy, Small and Medium Enterprises, Jo Seungrae, Chairman of the Committee on Budget and Economy, and Yoo Dongsoo, Chairman of the Committee on Economy and Finance, will each lead their respective subcommittees.

The committee is composed of three subcommittees: industry, tax and fiscal affairs, and fair trade and capital markets. Each subcommittee is led directly by a standing committee chairperson, creating a structure that connects discussions on economic issues with legislative action and policy development.

Speaker Cho first proposed building an ongoing cooperative system between the National Assembly and the business community at the Korea Chamber of Commerce and Industry’s Jeju Forum in July, and has since pushed forward with the committee's launch. The plan is to shift communication between the Assembly and industry from a case-by-case approach to a constant collaborative framework, while also identifying legislative and institutional improvement tasks aimed at expanding future growth engines and strengthening national competitiveness.

Notably, standing committee chairs responsible for economic affairs are directly involved in the committee to strengthen the National Assembly’s role. In the industrial sector, major discussion topics will include fostering corporate growth and enhancing technological competitiveness; in the tax and fiscal sector, supporting advanced industries and stabilizing supply chains; and in the policy sector, revitalizing the capital market.

The Office of the National Assembly Speaker stated, "We plan to work with the business community to identify legislative and institutional improvements that will expand future growth engines and strengthen national competitiveness, and to deliver tangible results."

Starting with its inauguration, the committee will review policy proposals submitted by the business sector and continue discussions on related legislative and institutional reforms.

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