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Lee Jae-myung pledges swift economic revival, no political retaliation if elected

Published: 25 May. 2025, 18:18 Updated: 25 May. 2025, 18:51

Lee Jae-myung, presidential candidate of the Democratic Party, speaks during a press conference at the party’s headquarters in Yeouido, western Seoul, on May 25. [JOONGANG ILBO]

Democratic Party presidential candidate Lee Jae-myung pledged on Sunday to launch an emergency economic response task force immediately upon taking office and to firmly punish anti-state actors while vowing to avoid any political retaliation.

Speaking at a press conference at the party’s headquarters in Yeouido, western Seoul, Lee emphasized the urgency of economic recovery.

“I will act swiftly to introduce actionable plans to revive the economy and fight the ongoing recession with full determination,” he said.

Lee said the first task as president would be to establish an “Emergency Economic Response Task Force” under direct presidential leadership.

“With external trade turbulence and evolving global security challenges pushing the public economy toward crisis, we need to save small-business owners and the self-employed, who have been pushed to the limit, and restart our growth engines,” he said. “The government must take the lead in implementing effective stimulus measures.

“Fiscal spending must serve as priming water to rebuild a virtuous economic cycle and to play a reliable role in supporting people’s livelihoods.”

Lee also called for bold investment in strategic industries.

Lee Jae-myung, presidential candidate of the Democratic Party, speaks during a press conference at the party’s headquarters in Yeouido, western Seoul, on May 25. [JOONGANG ILBO]

“In this era of intensifying global competition, aggressive investment in advanced industries and future technologies such as AI and deep tech is essential,” he said. “We must lead the way in building an economically strong nation.”

Lee also vowed to usher in what he called a “Kospi 5000 era,” referring to a dramatic rise in the main Korean stock index. The Korean bourse Kospi closed at 2,592.09 on Friday.

He reaffirmed his commitment to practical diplomacy based on the Korea-U.S. alliance.

“We will broaden the horizon of Korea’s diplomacy and establish unshakable peace through a national interest-centered, pragmatic foreign policy grounded in our strong alliance with the United States,” he said.

Lee added that he would expand Korea’s global leadership in all sectors, citing K-content as an example of the country’s growing international influence.

Lee also positioned himself as the candidate best suited to heal political division.

“For the past three years, the president has fueled polarization and deepened extreme conflict, leaving us with lasting wounds,” he said. “We must put an end to politics driven by hatred and expressed in our efforts to eliminate each other, and instead revive a culture of coexistence and communication. That is the path to restoring democracy.

“I know better than anyone the harms of political retaliation. That’s why I believe I’m the right person to put an end to divisive politics.”

Lee drew a distinction between legal accountability and revenge.

“Those who have threatened the constitutional order and the safety of our people must be punished firmly,” he said. “But there will never be political retaliation aimed at specific individuals.”

He also vowed to “break the vicious cycle created by confrontational politics.”

“If a policy can revive the economy and serve the people, I will pursue it regardless of ideology or political affiliation,” Lee said. “The only criterion the Lee Jae-myung administration will have when it comes to recruitment will be their capabilities and their capabilities only."

Lee promised to strengthen public input in governance.

Lee Jae-myung, presidential candidate of the Democratic Party, poses at Dangjin Traditional Market in South Chungcheong on May 25. [NEWS1]

“We will revitalize the citizen recommendation system for key government positions so that talented individuals nominated by the people can serve the nation,” he said.

He also pledged to build a “digital participation platform” that enables ordinary citizens to contribute to national policy decisions in their daily lives.

Lee proposed forming issue-specific deliberation committees aimed at achieving broader social consensus through public debate to address social conflicts.

“Democracy will be strengthened when the principles of checks and balances are properly upheld,” he said.

His proposed reforms include strengthening legislative control over emergency decrees, limiting presidential veto powers, allowing the National Assembly to recommend the prime minister and requiring parliamentary approval for appointments to institutions like the prosecution service, police and the Korea Communications Commission.

“Your vote is the only way to protect your life and your children’s future,” Lee said, urging the public to take part in early voting, which takes place over two days starting Thursday.

Translated from the JoongAng Ilbo using generative AI and edited by Korea JoongAng Daily staff.
BY CHO MUN-GYU [[email protected]]