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Lee pledges to address economic inequality and growth and emphasises pragmatic diplomacy with US and Japan
Published : 10 Apr 2025, 08:42 AM
South Korean opposition leader Lee Jae-myung, who is the front-runner in opinion polls to be the country's next leader, declared his bid for the presidency on Thursday, promising to focus on fixing inequality and economic growth.
The presidential election will be held on June 3, after former president Yoon Suk Yeol's impeachment, stemming from a December martial law declaration, was upheld on April.
In a video released on Thursday, Lee pledged to fix economic polarisation that he said was a key source of social conflict, highlighting how he felt this had exacerbated the recent political turmoil in the wake of Yoon's martial law order.
Lee said he would drive large-scale investments at the government level in technology and talent development to resuscitate economic growth.
Lee, who has sought to brand himself as a pragmatist, said it did not matter who launched a policy but what was important was whether the policy was useful.
Conservative critics have warned that the opposition could undermine the alliance with the United States and threaten improved ties with Japan, but Lee vowed a pragmatic approach to diplomacy.
"Realistically speaking, the South Korea-US alliance is important, and South Korea, US Japan cooperation is important. Within that, the consistent principle is the national interest of the Republic of Korea is the top priority," Lee said.
Lee, 61, lost by the slimmest margin in the country's history when he ran against Yoon in the 2022 presidential election.
But last year, he led his liberal Democratic Party to a landslide victory in a parliamentary election, and enjoys strong support from liberal voters.
On Wednesday, Lee stepped down as leader of the main opposition party, preparing to switch gears to focus on his election campaign.
A Gallup poll announced on April 4 put Lee as the favourite to become the next president with 34% support, versus 9% for the top conservative contender, 73-year-old former labour minister Kim Moon-soo.
The conservatives have a wide-open presidential field. The ruling People Power Party plans to confirm its candidate through a primary in May.
