Is South Korea's DP Candidate Lee Ready for the Presidential Race?

Seoul, May 12 (NationPress) Lee Jae-myung, the presidential candidate from the South Korean Democratic Party (DP), officially commenced his campaign in the heart of Seoul on Monday in preparation for the upcoming June 3 presidential election.

Lee initiated his campaign at Cheonggye Plaza, a site chosen by the DP that symbolizes the removal of former President Yoon Suk Yeol, as reported by Yonhap news agency.

A total of seven candidates have officially declared their intentions for the presidential election, which was prompted by Yoon's unsuccessful attempt to impose martial law in December. Lee is anticipated to compete against Kim Moon-soo from the People Power Party (PPP).

During the launch ceremony for the party's central campaign committee, Lee stated, "This presidential election is not merely a contest between the DP and the PPP but a confrontation against the entrenched elite that have undermined constitutional order and jeopardized the lives of the people through insurrection."

Recent public opinion surveys indicate that Lee has maintained his lead, particularly as the PPP has experienced internal conflicts regarding a potential candidacy merger between Kim and former Prime Minister Han Duck-soo.

Following the rally, Lee plans to visit the regions he refers to as the 'K-Initiative Belt', which includes the suburban cities of Seongnam and Hwaseong in Gyeonggi Province, as well as the central city of Daejeon.

He aims to engage with workers in the innovative industry in Pangyo, located just south of Seoul, focusing his campaign on themes surrounding semiconductors and technology in Dongtan and Daejeon.

The DP's campaign committee has also revealed Lee's core pledges, aimed at fostering new industries to elevate South Korea into a leading global economic powerhouse. The committee announced the submission of a set of ten pledges to the National Election Commission.

In economic matters, the DP has committed to transforming South Korea into one of the top three artificial intelligence (AI) powers and has promised to increase the AI budget proportion to match that of developed nations.

Additionally, it has pledged to amend the Commercial Act to extend the fiduciary duty of corporate directors beyond just the company to include both the company and its shareholders.

In terms of diplomacy and security, the DP has vowed to strengthen diplomatic relations with four neighboring countries based on national interests and pragmatism, aimed at reducing military tensions on the Korean Peninsula and reclaiming wartime operational control.

Other commitments include enhancing democratic control over the president’s martial law authority and transforming Sejong into South Korea's administrative capital.