[Video] Lee Jae-myung: "I will turn crisis into opportunity to create a Hope Nation... Stand by the people as a worker representing the sovereign"

Official Declaration of Candidacy for the 20th Presidential Election on the 1st
"A Golden Opportunity to Shift from a Catch-up Economy to a Leading Economy"
"Though a Grassroots Outsider, I Will Turn Crisis into Opportunity"
"I Will Stand by the People as a Worker Representing Sovereign Citizens"
"Will Expand Infrastructure and Restructure Industrial Systems on a Large Scale"
"Unfairness and Polarization Are the Causes of Crisis... Will Pursue Reforms"

Gyeonggi Province Governor Lee Jae-myung. / Photo by Dongju Yoon doso7@

[Asia Economy Reporter Koo Chae-eun] Lee Jae-myung, Governor of Gyeonggi Province, officially declared his candidacy for the presidential election on the 1st, stating, “As a servant representing the sovereign people, I will be by the people’s side, not in some high place.”

He said, “Only those who have overcome crises can overcome crises,” adding, “Though I am a non-mainstream from a humble background with more crises, I have turned crises into opportunities and achieved results. Lee Jae-myung is precisely the one who can transform the Republic of Korea into a hopeful nation.”

In his non-face-to-face candidacy declaration, Governor Lee said, “Politics that represent the will of the sovereign must protect the lives and safety of the people through strong security and cultivate a better life for the people based on a fair order.”

Regarding economic policy, he mentioned, “We will secure a free space where corporate creativity and innovation are possible through regulatory rationalization, and discover new growth engines through large-scale infrastructure expansion and strong industrial economic restructuring.” He also emphasized that “the global crisis is a golden opportunity to move from a weary catch-up economy to a leading economy.”

In the 14-page declaration, Governor Lee pointed out that today’s Korea is in crisis, and the causes of the crisis are unfairness and polarization. He stressed that securing fairness and strong economic policies are necessary to overcome this.

He diagnosed that the vulnerable groups include ▲the despair of the youth generation, and ▲the crisis of low growth brought by energy transition and digital transformation. He said, “The older generation lived in a world where, despite harsh realities, there were opportunities to challenge and a belief that tomorrow would be better. However, the despair of the youth generation, who have become vulnerable, pains us deeply.”

He stated, “The causes of the crisis are unfairness and polarization,” adding, “This goes beyond the emotional issue of relative poverty and damages growth engines through inefficient resource allocation and deteriorated competition efficiency, leading to economic recession and low growth.” He also diagnosed that low birth rates, aging, unemployment, conflicts and divisions, and the private education and entrance exam hell are mainly caused by opportunity poverty due to low growth.

Governor Lee said he would overcome such crises through securing fairness and a strong reform drive. He said, “A country where following the rules does not lead to losses and where no one or no region suffers unfairly has a future,” and “In addition to securing fairness, alleviating inequality and polarization, and expanding welfare, economic basic rights must be guaranteed to enable sustainable growth.”

Regarding economic policy, he said, “The economy belongs to the private sector and the market, but in this era of great transformation, large-scale industrial economic restructuring is difficult to handle by private companies and the market alone,” adding, “The public sector must pave the way so that the private sector can boldly invest and innovate.” He also said he would foster basic and advanced science and technology through a future-oriented human resource development system and expand support for culture and arts to strengthen cultural content. Governor Lee presented a blueprint stating, “Like the ‘New Deal’ in the Great Depression era, in this era of great transformation, the public sector will pave the way and the private sector will boldly invest and innovate through regulatory rationalization and industrial economic restructuring.”

He emphasized, “We must restrain the desires of the strong based on privilege and unfairness and embrace the lives of the weak through politics that strengthen the weak and restrain the strong, moving toward a grand society where everyone prospers together,” and “In difficult times, I will always be at the forefront, bearing wounds and responsibility to open the way.”

He particularly said, “The reason people support me, who have no political backing, organization, money, or connections, is probably because of the small achievements and sense of efficacy I created while leading Seongnam City and Gyeonggi Province,” and “Please give me greater tools so that I, Lee Jae-myung, proven by results, can demonstrate my prepared capabilities for the country,” promising, “I will repay with a better life for the people.”

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