SEOUL (Reuters) – South Korea’s Democratic Party candidate Lee Jae-myung is the frontrunner for the June 3 snap presidential election, vowing political and economic reforms to help the country recover from the shock of December’s brief martial law.
Here are some of the main policy proposals put forward by Lee and his party:
ECONOMY
The Democratic Party has vowed to gradually increase budgets for research and development and invest heavily in artificial intelligence if Lee wins, starting with this year’s extra budget.
The party also plans to make defence one of the country’s key industries, provide vouchers to help local businesses and strengthen the country’s soft power by ramping up support for the content industry.
FOREIGN POLICY
Lee will pursue a new Asia strategy and cooperation with the “Global South” and strengthen cooperation with the European Union in trade, supply chains, defence and infrastructure.
He will seek to ease tensions with North Korea while maintaining the goal of denuclearisation on the Korean peninsula and the transfer of wartime operational control from the U.S.
POLITICAL STABILITY
The DP said it would oversee a recovery of South Korea’s democracy following the political crisis caused by former president Yoon Suk Yeol’s martial law declaration in December.
The party also intends to more tightly control the president’s right to declare martial law.
It has also vowed to reform the legal system because it considers that prosecutors have become politicised and aims to separate investigations and prosecutions.
WORK CULTURE
Lee plans to introduce a four-and-a-half-day working week to cut down on work hours. South Koreans work some of the longest hours among OECD countries.
Lee aims to cut the number of hours worked to below the OECD average, according to the DP’s campaign policy white paper.
POPULATION CRISIS
In an effort to increase the country’s record low birth rates, Lee plans to offer income tax deductions to parents in proportion to the number of children they have and increase the supply of public rental housing for newly married couples.
To address the needs of an ageing population, Lee will seek to increase nursing services and build senior-friendly housing.
CLIMATE CHANGE
Under Lee’s presidency, the DP says South Korea will accelerate the push towards renewable energy and shut down coal plants by 2040.
(Reporting by Hyunsu Yim; Editing by Ed Davies and Michael Perry)
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