South Korean opposition leader Lee Jae-myung, the current front-runner in opinion polls, officially launched his bid for the presidency on Thursday, pledging to tackle inequality and reignite economic growth.
The country’s presidential election is scheduled for June 3, following the impeachment of former president Yoon Suk Yeol. Yoon was removed from office after his December martial law declaration was upheld by the Constitutional Court on 4 April.
In a video announcement, Lee identified economic polarisation as a major cause of social conflict and political instability, especially in the wake of Yoon’s controversial martial law move. He promised government-led investment in technology and talent development to revive South Korea’s economy.
Lee also addressed foreign policy concerns, as conservative critics claim his return to power could weaken ties with the United States and jeopardise improving relations with Japan. He dismissed those claims and emphasised a pragmatic diplomatic approach.
“Realistically speaking, the South Korea-U.S. alliance is important, and South Korea, U.S., Japan cooperation is important. Within that, the consistent principle is that the national interest of the Republic of Korea is the top priority,” Lee said.
The next president will inherit complex negotiations with Washington, particularly over tariffs affecting South Korea’s export-driven economy. Lee, 61, narrowly lost the 2022 presidential race to Yoon in the tightest contest in the nation’s history. However, he made a strong political comeback last year, leading his Democratic Party to a sweeping parliamentary victory and maintaining robust support among liberal voters.
On Wednesday, Lee resigned as head of the main opposition party to concentrate fully on his campaign. A Gallup Korea poll released on 4 April showed him leading with 34% support, while the top conservative candidate, 73-year-old former labour minister Kim Moon-soo, had 9%.
The ruling People Power Party (PPP), which now faces a fragmented field, is expected to select its candidate through a primary in May. Former PPP leader Han Dong-hoon announced his candidacy on Thursday, joining a growing list of hopefuls, including Seoul Mayor Oh Se-hoon and PPP member Ahn Cheol-soo.
Han, once a close ally of Yoon and a former justice minister, entered politics in late 2023 but has since distanced himself from the ousted president after backing his impeachment. Despite the expanding conservative field, no other candidate besides Lee has registered double-digit support in recent polls.
Faridah Abdulkadiri
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