April 11, 2025
SEOUL – Rep. Lee Jae-myung officially announced his run for president Thursday, a day after resigning as the chair of the Democratic Party of Korea.
In a 10-minute video clip released by the Lee campaign, the former Democratic Party leader presented himself as a champion of the people, vowing to tackle income inequality and lead economic growth.
Lee said the country’s economy was “on a downward spiral in a lot of ways” after “three years of neglect” under the current administration.
“The economy cannot be kept afloat by the private sector alone. The government has a role to play, which our government unfortunately has been neglecting for the last three years,” he said.
Lee said the polarization and divide in the country were “at their core driven by economic hardships plaguing ordinary South Koreans.”
“Our country is richer (than it used to be). But that wealth is unevenly distributed. The income and wealth inequality has gotten so much worse than in the past. Collectively, we may be richer than in the past but that prosperity and wealth are concentrated in the hands of a few,” he said.
“I want to build a country for the common people, a country where there is hope for the vast majority.”
Lee said he would overcome partisanship for the “greater good of making lives better for ordinary South Koreans.”
“At the end of the day this isn’t a blue or red issue,” he said, referring to the color representing the Democratic Party, blue, and red, which represents the rival People Power Party.
He said he would pragmatically deploy policies of the right or the left, if they improve the lives of the people.
On the foreign policy front, Lee said the alliance with the US, and the three-way cooperation with the US and Japan were “very important.”
The principle guiding his foreign policies would be “the national interests of the South Korean people,” he added.
Lee also spoke about South Korea’s growing soft power.
“I think our culture sector has a potential to lead globally, and I believe that we can have a country whose forte is in its culture,” he said.
Lee alluded to former President Yoon Suk Yeol’s ouster, without mentioning his name, that the country proved the resilience of its democracy to the world through the people’s resistance.
“I think the way South Korean people resisted attempts by forces trying to undermine democracy, and won, is something that will go down in history,” he said.
“The winter was long and brutal. As cold as the winter was, spring will be warm when it dawns.”
Lee registered with the National Election Commission as a preliminary candidate for president on Thursday. The Democratic Party is set to finalize its presidential candidate in early May. The presidential election will take place June 3.