SEOUL (Reuters) – Seeking to build momentum in his campaign to win South Korea’s presidency, former labour minister and conservative candidate Kim Moon-soo is pledging economic policies focused on deregulation, investments in AI and tax breaks for the middle class.
Kim has also promised a tough line on nuclear-armed North Korea.
Here are some of Kim’s key campaign pledges ahead of the June 3 election:
DEALING WITH TRUMP
Kim has proposed an immediate summit meeting with U.S. President Donald Trump to negotiate tariffs.
NORTH KOREA
Kim is critical of engagement with North Korea, and has backed the hardline approach of impeached President Yoon Suk Yeol.
He has proposed stronger defence against Pyongyang’s nuclear threats and has promised he will secure “pre-emptive deterrence” by securing “enough retaliatory tools” such as ballistic missiles.
He would also seek stronger security guarantees from Washington such as the re-deployment of U.S. tactical nuclear weapons, and seek to secure the right to reprocess nuclear fuel, a major step towards building the country’s own atomic weapons.
ECONOMY
The candidate has vowed to create a business-friendly environment by easing regulations and expanding incentives for companies investing in South Korea.
Like his rival and liberal frontrunner Lee Jae-myung, he has pledged to help the country grow as a powerhouse for the artificial intelligence (AI) industry, promising to create a private-public joint fund worth 100 trillion won ($71.21 billion) to support infrastructure for the sector.
He also plans to slash taxes for the middle class and help them build assets by allowing a fair, transparent cryptocurrency market and crypto-linked funds.
Like Lee, Kim has proposed overhauling the inheritance tax system, including by lowering rates and removing inheritance tax between spouses.
SECURITY
He has proposed revising South Korea’s anti-espionage act beyond the disclosure of military secrets to broader areas such as academia.
ENERGY
Kim plans to expand nuclear power generation to reduce electricity prices for corporations and meet demand for the AI sector.
DEMOGRAPHICS
He has proposed increasing housing support for younger generations and newlyweds, and including sperm and egg freezing in public health insurance coverage to boost the country’s record low birthrate.
($1 = 1,404.3200 won)
(Reporting by Ju-min Park; Editing by Ed Davies and Kate Mayberry)
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