Kwon Chil-seung Appointed as Chair of the Democratic Party's Policy Committee
The Democratic Party of Korea has appointed Kwon Chil-seung, a three-term lawmaker, as the chair of its policy committee, which oversees legislation related to virtual assets. On the 18th, Democratic Party leader Kim Min-seok announced the appointments, naming Kwon Chil-seung as the policy committee chair, Han Jeong-ae, a four-term lawmaker, as the secretary-general, and Kim Nam-jun as the publicity committee chair. The policy committee chair plays a crucial role in shaping the party's policy and legislative direction, particularly in digital asset legislation. Kwon Chil-seung mentioned at a National Assembly forum last May that digital assets could serve as a platform to enhance fairness and accessibility in funding. He stated that if digital assets, such as stablecoins, possess stability and normative qualities, they could become a mechanism to overcome the uncertainties of existing exchange rates and the risks of foreign exchange transactions. Kwon entered the National Assembly in 2016 after serving as an administrative officer in the Presidential Office during the Roh Moo-hyun administration and has held positions such as deputy floor leader and chief spokesperson for the Democratic Party. During the Moon Jae-in administration, he served as the Minister of SMEs and Startups, and later as the chair of the Administrative Safety Committee and the chair of the party's special committee on small and medium enterprises.
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