South Korea’s presidential candidates, Lee Jae-myung and Kim Moon-soo will take the stage on Sunday evening for the first of three televised debates ahead of the snap election set for June 3. The vote was triggered by last month’s impeachment of former President Yoon Suk Yeol over his controversial martial law declaration in December.
The debate is expected to center on the economy, which has become a top election issue as Asia’s fourth-largest economy contracted in the first quarter. Weak exports, sluggish domestic consumption, and rising uncertainty over Washington’s trade policies have all contributed to the situation, Reuters reported.
Seoul, seeking a waiver against US imposition of 25% tariffs on South Korean exports, has already begun trade talks with Washington.
The candidates
Lee Jae-myung of the opposition Democratic Party, currently leading in the polls, has pledged aggressive investment in future technologies. He vowed to raise artificial intelligence (AI) investment to 100 trillion won (approx. $71.5 billion) and introduce a production tax credit of up to 10% for domestically produced and sold semiconductors.
Kim Moon-soo, representing the conservative People Power Party, has proposed creating a new government agency focused on regulatory innovation and committed to investing more than 5% of the national budget in research and development.
According to the latest Gallup Korea poll released Friday, Lee leads the race with 51% support, while Kim trails at 29%
Earlier on Sunday, Lee called for constitutional reforms to allow a four-year, two-term presidency and a two-round voting system. “We must gather the people’s strength to root (them) out and strictly hold (them) accountable,” he said during a press briefing, referring to those behind the martial law declaration on December 3.
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He also vowed to curb the presidential power to declare martial law and ensure accountability for the December incident that led to Yoon’s impeachment.
(With inputs from Reuters)
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