Lee Nak-yeon Stands on the '7-Month' Test Bench... Leap or Fall in the Presidential Race

[Image source=Yonhap News]

[Asia Economy Reporter Park Cheol-eung] Lee Nak-yeon, a member of the Democratic Party of Korea, has confirmed his position as the most likely presidential candidate through the party's internal election. Former lawmaker Kim Boo-kyum, who lost in the general election but emphasized rallying support in the Yeongnam region as the party's strongman there, only managed to save face. Rookie lawmaker Park Joo-min, who entered the party leadership race late, finished third but achieved a meaningful vote share, further raising his presence.

The newly elected leader's vote share slightly exceeded 60%. Although some polls showed him trailing Gyeonggi Province Governor Lee Jae-myung for the first time, slightly denting the momentum, it was not enough to shake the party leadership election. Above all, the party sentiment seemed to be that the strength of a leading presidential candidate should not be weakened.

For him, this is both a new beginning and a test. While his stable governance as Prime Minister helped him step up as a presidential contender, this is his first time playing a pillar role within the party. Moreover, the current situation is not 'peacetime' but closer to a 'quasi-war' state due to the novel coronavirus disease (COVID-19) crisis.

Lee has already declared that he will begin negotiations with the government next week regarding the second round of disaster relief funds. With the country effectively entering social distancing level 2.5, many self-employed businesses are forced to shut down, suffering severe hardship. There are also concerns that the exhaustion of employment retention subsidies will lead to mass layoffs.

Lee has mentioned that "the degree of suffering differs." He is likely to focus on putting out the immediate fires. However, voices demanding comprehensive disaster relief payments, including from competing party leadership candidates and Governor Lee Jae-myung, are not few. The financial authorities holding the budget key are expected to express reluctance. Lee must make a decisive move immediately upon taking office, as the crisis is already underway.

Meanwhile, the medical community has even announced an indefinite collective strike. The government maintains a hardline stance. In this severe social conflict, it is necessary for the ruling party to exert political influence.

The launch of the High-ranking Officials' Crime Investigation Unit (HOCIU) is an urgent task that can no longer be postponed. There are reports that the United Future Party has already nominated members for the HOCIU chief candidate recommendation committee. Now is the time for negotiation, and the new leader must break through. This is expected to be a barometer for 'cooperation governance.'

Politically, preparations must be made for the Seoul and Busan mayoral by-elections scheduled for April next year. Although the role will be limited to solidifying his position before the by-elections for a presidential run, considering the Democratic Party's recent struggles in approval ratings, this is a critical period. When passing the baton to the next party leader, it will be necessary to show at least improved approval ratings compared to now. A card to win public support seems necessary.

Lee's term will be only about seven months, but it will be a period to confirm his competitiveness as a presidential candidate.

Former lawmaker Kim Boo-kyum took a last-ditch stance of not running for president and ran for party leader but received only about 21% support. He came in second, about 3 percentage points ahead of Park Joo-min. The 40-year-old Park appears to have received strong support from party members with voting rights. It was an election that proved his popular appeal. It is expected to serve as an opportunity to increase his influence as a leader of the younger faction within the party going forward.

This content was produced with the assistance of AI translation services.