{"id":2208094,"date":"2025-01-24T15:39:21","date_gmt":"2025-01-24T06:39:21","guid":{"rendered":"https:\/\/koreapro.org\/?p=2208094"},"modified":"2025-01-24T15:39:21","modified_gmt":"2025-01-24T06:39:21","slug":"lee-jae-myung-pivots-to-pragmatism-as-he-eyes-south-koreas-presidency","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2025\/01\/lee-jae-myung-pivots-to-pragmatism-as-he-eyes-south-koreas-presidency\/","title":{"rendered":"Lee Jae-myung pivots to pragmatism as he eyes South Korea\u2019s presidency"},"content":{"rendered":"

Lee Jae-myung is betting that pragmatism will solidify his approval ratings and help him maintain his lead as South Korea\u2019s top presidential contender.\u00a0<\/span><\/p>\n

In a carefully calibrated <\/span>speech<\/span><\/a> on Thursday, the main opposition Democratic Party (DP) leader declared a pivot to the center, abandoning ideological rigidity in favor of what he called \u201cpractical realism.\u201d He notably laid out a vision of private-sector-led economic growth and international cooperation \u2014 an uncharacteristic move for a progressive politician.<\/span><\/p>\n

Lee\u2019s pivot comes at a precarious moment. Public support for a new government is <\/span>surging<\/span><\/a> amid President Yoon Suk-yeol\u2019s impeachment trial, while the ruling People Power Party (PPP) is <\/span>gaining momentum<\/span><\/a> in polls.<\/span><\/p>\n

For Lee, this strategy could broaden his appeal among moderates and investors wary of his past rhetoric.<\/span><\/p>\n

A NATION IN FLUX<\/b><\/p>\n

Yoon\u2019s impeachment and arrest over his brief martial law declaration have created a leadership vacuum, deepened political polarization and sparked violent protests. Public opinion is firmly against the president, with 57 to 59% supporting his impeachment, according to recent surveys.\u00a0<\/span><\/p>\n

Despite the majority of the public supporting Yoon\u2019s removal from office, competition between the PPP and the DP is tightening. Surveys show the two parties neck and neck, with the PPP polling at 35 to 38% and the DP at 36 to 40%.<\/span><\/p>\n

However, Lee remains the frontrunner. Polls consistently place him ahead as the preferred presidential candidate, with favorability ratings between 28 to 34%. However, his unfavorability remains high, too, which he <\/span>acknowledged<\/span><\/a> during Wednesday\u2019s press conference.<\/span><\/p>\n

His latest speech signals a strategic shift to consolidate his position as a unifying figure and capitalize on public discontent with Yoon and the PPP.<\/span><\/p>\n

\"\"

Ruling People Power Party lawmakers, led by interim leader Kwon Young-se and floor leader Kwon Seong-dong greet citizens at Seoul Station as they head home for the Lunar New Year holidays, Jan. 24, 2025 | Image: People Power Party<\/a><\/em><\/p><\/div>\n

LEE JAE-MYUNG\u2019S SHIFT<\/b><\/p>\n

During his speech, Lee outlined a pro-business agenda centered on \u201cprivate-sector-led growth with government support.\u201d This marks a departure from his earlier platform, which emphasized progressive policies such as <\/span>universal cash handouts<\/span><\/a> and the <\/span>Yellow Envelope Law<\/span><\/a>.<\/span><\/p>\n

Lee now champions deregulation for innovation-driven industries like artificial intelligence (AI), robotics and semiconductors, alongside capital market reforms aimed at reducing the <\/span>Korea discount<\/span><\/a> \u2014 the undervaluation of South Korean stocks compared to global peers.<\/span><\/p>\n

He also addressed the need for transparency and efficiency in corporate governance, signaling an alignment with investor concerns. Lee called for a shift from real estate speculation to stock market investments, framing these reforms as essential for South Korea\u2019s economic modernization.<\/span><\/p>\n

Investors who tend to be wary of overly progressive agendas will likely welcome Lee\u2019s pivot to issues that are traditionally associated with conservatives. With 54% of survey respondents expecting the economy to worsen in the coming year, Lee\u2019s proposals may resonate with a public eager for solutions to economic stagnation.<\/span><\/p>\n

However, Lee\u2019s pragmatic shift has drawn sharp criticism. The PPP <\/span>mocked<\/span><\/a> his speech as inconsistent and opportunistic, accusing him of flip-flopping. PPP leaders likened his pivot to \u201ca mouse pretending to be a cat,\u201d questioning the sincerity of his calls for bipartisanship.<\/span><\/p>\n

Within the DP, Lee risks alienating progressives who see his pragmatism as a betrayal of core principles. For instance, labor unions like the Korean Confederation of Trade Unions (KCTU), a key constituency, may view his pro-business rhetoric as a sign of abandonment.<\/span><\/p>\n

\"\"

Main opposition Democratic Party leader Lee Jae-myung meets with Acting President Choi Sang-mok, Jan. 13, 2025 | Image: Democratic Party of Korea<\/a><\/em><\/p><\/div>\n

BROADER IMPLICATIONS<\/b><\/p>\n

Lee\u2019s pivot reflects an acute awareness of South Korea\u2019s polarized electorate. Recent surveys show a near-even split in party support, with neither the PPP nor the DP commanding a decisive majority.<\/span><\/p>\n

By adopting a centrist approach, Lee aims to bridge this divide and position himself as a unifying leader. However, public skepticism remains a significant hurdle. The tight margins between the parties underscore the high stakes of Lee\u2019s strategy.<\/span><\/p>\n

Lee\u2019s emphasis on innovation and deregulation aligns with public concerns about South Korea\u2019s economic future. By focusing on high-tech sectors like AI and semiconductors, he seeks to defend the ROK\u2019s position as a global leader in emerging industries.<\/span><\/p>\n

Further, his call for capital market reforms, including measures to reduce the Korea discount, could boost investor confidence and attract foreign capital should he become the next president.<\/span><\/p>\n

However, these proposals face significant challenges. South Korea\u2019s hyper-partisan political landscape may hinder bipartisan support for Lee\u2019s reforms. For instance, if Lee becomes the next president, the PPP will likely revert to its <\/span>traditional fiscal conservative stance<\/span><\/a> and champion belt-tightening measures, which may complicate Lee\u2019s economic proposals.<\/span><\/p>\n

Additionally, his ability to balance pro-business policies with progressive demands will be critical to maintaining public and party support.<\/span><\/p>\n

\"\"

Labor union members protest to demand that the Moon Jae-in administration halts its labor law reforms, June 29, 2019 | Image: Korean Confederation of Trade Unions via Facebook<\/a><\/em><\/p><\/div>\n

For instance, the KCTU caused significant challenges for the Moon Jae-in administration \u2014 the country\u2019s most recent progressive government. In Nov. 2018, the KCTU organized a <\/span>nationwide one-day strike<\/span><\/a>, mobilizing nearly 160,000 members across 16 regions, to protest the government\u2019s labor policies, which they felt fell short of Moon’s campaign promises.<\/span><\/p>\n

Tensions between the KCTU and the Moon administration escalated again in June 2019 when KCTU Chairman Kim Myeong-hwan was <\/span>arrested<\/span><\/a> on charges related to organizing illegal protests. The KCTU interpreted the move as a significant setback in labor-government relations and intensified opposition against the administration.<\/span><\/p>\n

If labor unions perceive Lee\u2019s pivot as prioritizing businesses over workers, he could face similar, if not greater, pushback from them, risking both political capital and public support.<\/span><\/p>\n

On the other hand, Lee\u2019s pivot also carries implications for South Korea\u2019s economic diplomacy and trade partnerships as it signals a shift toward greater cooperation with trade partners. Strengthening ties with the U.S., particularly as the Trump administration prioritizes its <\/span>\u201cAmerica First\u201d economic policy<\/span><\/a>, is likely to reassure investors and foreign governments.<\/span><\/p>\n

However, Lee\u2019s past rhetoric on <\/span>Japan<\/span><\/a> and <\/span>Taiwan<\/span><\/a> remains a potential liability. While his Thursday speech reflects a more pragmatic approach that may have an impact on South Korea\u2019s global trade relations, it remains to be seen whether he can fully overcome skepticism from international partners.<\/span><\/p>\n

\"\"

U.S. President Donald Trump signs executive orders in the Oval Office, Jan. 21, 2025 | Image: White House<\/em><\/p><\/div>\n

THE RISKS OF PRAGMATISM<\/b><\/p>\n

By positioning himself as a centrist, Lee seeks to broaden his appeal, reassure investors and address public dissatisfaction with the status quo. His proposals for economic reform and innovation-driven growth align with the public\u2019s desire for solutions to economic stagnation and inequality.<\/span><\/p>\n

However, this strategy is not without risks. Lee must navigate a polarized electorate, win over skeptics and balance his pragmatic vision with the expectations of his progressive base. The tight competition between the PPP and DP underscores the challenges ahead.<\/span><\/p>\n

Lee\u2019s gamble on pragmatism could unite a fractured nation \u2014 or leave him stranded between two polarized electorates already skeptical of the political establishment. Whether his vision resonates with voters and stakeholders remains to be seen.<\/span><\/p>\n

Edited by Alannah Hill<\/span><\/i><\/p>\n

Business & Economy<\/span><\/a>Domestic Politics<\/span><\/a>Inter-Korean & Foreign Relations<\/span><\/a>Technology & Cyber<\/span><\/a><\/div>","protected":false},"excerpt":{"rendered":"

Lee Jae-myung is betting that pragmatism will solidify his approval ratings and help him maintain his lead as South Korea\u2019s top presidential contender.\u00a0 In a carefully calibrated speech on Thursday, the main opposition Democratic Party (DP) leader declared a pivot to the center, abandoning ideological rigidity in favor of what he called \u201cpractical realism.\u201d He […]<\/p>\n","protected":false},"author":10407,"featured_media":2208095,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[24,27,28,29],"class_list":["post-2208094","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","tag-business-economy","tag-domestic-politics","tag-inter-korean-foreign-relations","tag-technology-cyber"],"yoast_head":"\nLee Jae-myung pivots to pragmatism as he eyes South Korea\u2019s presidency - Korea Pro<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/koreapro.org\/2025\/01\/lee-jae-myung-pivots-to-pragmatism-as-he-eyes-south-koreas-presidency\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lee Jae-myung pivots to pragmatism as he eyes South Korea\u2019s presidency - 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