[Full Text] Lee Jae-myung: "My No.1 Pledge is 'Transformative Fair Growth'... Achieving Both 'Restoration of Fairness' and 'Economic Revival'"

Dismantle the Entrenched Cartel to Restore Fairness... Distribute Opportunities to Boost Motivation and Create a Growth Foundation
Large-Scale National Investment Also Initiated
Top Priority After Taking Power: 'Strong Real Estate Reform'

[Asia Economy Reporters Oh Ju-yeon and Gu Chae-eun] Lee Jae-myung, the Democratic Party presidential candidate, emphasized on the 2nd at the ‘Democratic Party 20th Presidential Election Campaign Committee Launch Ceremony’ held at the Olympic Stadium in Songpa-gu, Seoul, that "this presidential election is not simply about electing one new president, but a critical matter that determines the lives of the people and the fate of the nation," and stressed, "We must lead South Korea into a qualitatively different era of 'leap' and 'development.'"

He also emphasized that he will definitely achieve his first pledge, 'transitional fair growth,' and actively pursue major reforms in real estate and livelihood reforms.

Below is the full text of Lee Jae-myung’s speech at the campaign committee launch ceremony.

Yonhap News

『A fair and just society,

a safe society that protects and respects life,

a unified society that realizes an inclusive welfare state,

a prosperous society through innovative and inclusive growth,

and the construction of a Republic of Korea that realizes a new era of peace on the Korean Peninsula are our goals.』

This is Article 2 of the Democratic Party’s constitution, the founding purpose.

It contains the beliefs of all of us gathered here and the vision of the country we pursue.

We have always been united before this party constitution.

Today, we stand at the starting point of adding another shining chapter to the proud history of the Democratic Party.

Everyone who competed for a new country is here with us.

This is the first time in the history of our Democratic Party.

I am delighted and overwhelmed to be able to present such a wonderful dream team to the people and party members.

Please give a warm round of applause to candidates Lee Nak-yeon, Chung Sye-kyun, Choo Mi-ae, Kim Du-kwan, Park Yong-jin, Choi Moon-soon, Yang Seung-jo, and Lee Kwang-jae.

Dear citizens and party comrades!

A huge transitional crisis is approaching.

Externally, we face an energy transition due to the climate crisis, a digital transformation due to the technological revolution, and periodic pandemics threatening us.

Internally, accumulated unfairness, inequality, imbalance, and a vicious cycle of structural low growth are intensifying conflicts and fractures.

If we fail to wisely overcome this crisis, all the achievements built over the past 70 years since the establishment of the government could vanish in an instant.

However, as always, crisis comes with opportunity.

Like Admiral Yi Sun-sin who saved the country with a spirit of “death before dishonor,” fear is another name for courage for those who walk the path of preparation, challenge, and victory.

What we must do is clear.

We must not only endure the transitional crisis but turn it into an opportunity for a leap forward.

We must lead South Korea into a qualitatively different era of leap and development through this opportunity.

Therefore, this presidential election is not simply about electing one new president.

It is a critical matter that determines the lives of the people and the fate of the nation.

We cannot entrust the fate of the country and the people to candidates without philosophy, historical awareness, or preparation.

We cannot entrust South Korea to regressive forces that disparage Gwangju, advocate nuclear armament, and threaten tension and confrontation by breaking inter-Korean agreements.

Someone who wants to be a ruler dominating the people cannot be the number one worker of a sovereign democratic state.

Without vision or policy, only slandering, defaming, seeking windfall profits, and obstructing with incompetence cannot overcome this crisis and difficulties.

I ask you all.

Who is the candidate that will create a ‘New Republic of Korea’ and a ‘Great Transition of Korea’ with clear philosophy and belief, firm courage, and strong execution?

Who is the candidate that will turn crisis into opportunity with proven ability?

Who is the candidate that will be a true worker of the sovereign people, not a ruling king?

I, Lee Jae-myung, promise the people.

First, I will restore growth and revive the economy.

With strong driving force, I will powerfully turn the engine of economic growth.

My number one pledge is the recovery of growth.

We will definitely achieve ‘transitional fair growth,’ a two-track approach of laying the foundation for growth through restoring fairness and transitional growth that turns crisis into opportunity.

The root cause of severe conflicts and fractures in our society is the lack of total opportunities due to low growth and inequality. Increasing total opportunities through growth recovery will eliminate conflicts between genders, generations, classes, and regions. It can also resolve conflicts between large corporations and SMEs, regular and irregular workers, headquarters and franchises, and metropolitan and non-metropolitan areas.

We will dismantle the ‘privileged vested interest cartel’ lurking throughout society and restore fairness. By fairly distributing resources and opportunities concentrated in the hands of a few, we will increase efficiency, motivate people, and create a foundation for new growth.

We will open a path of coexistence for all through social grand compromise.

However, we will not endlessly continue discussions without progress.

We will discuss sufficiently and attempt bold grand compromises, but if no results come, the government will take the lead and do what must be done.

We will embark on an unprecedented large-scale and rapid national investment.

President Park Chung-hee built the Gyeongbu Expressway and opened the path of manufacturing-centered industrialization. The Lee Jae-myung government will pave an ‘energy expressway’ to race through the decarbonization era and open a new future.

We will massively invest in educational innovation to nurture future talents, basic science, advanced technology, and infrastructure, and open the way for industrial restructuring and entry into new industries through bold regulatory rationalization such as introducing a negative regulation system.

Second, we will turn the real estate crisis into an opportunity for Korea’s great transition.

I cannot help but feel sorry when I see the people suffering from high housing prices. We have caused too much pain and frustration to the people due to real estate issues. I sincerely apologize.

We failed to prevent real estate speculation, causing disillusionment and frustration.

Due to sluggish public office reform, we failed to gain policy trust.

Housing prices rising day by day have made people give up marriage, childbirth, and jobs.

However, under the Lee Jae-myung government, such things will never happen again.

Now is the right time for major real estate reform, with unprecedented interest and support for the full national recovery system of development gains.

We will act, not just talk.

We will practice, not just promise.

Related bills have already been submitted to the National Assembly. We will start with institutional reforms such as strengthening the development gains recovery system and the pre-sale price ceiling system that can be done immediately in this regular session.

After taking office, we will prioritize ‘strong and large-scale real estate reform.’

Development gains generated by exercising licensing authority entrusted by the people, unearned income generated by spending public taxes, will be returned to the people, not to construction forces or corrupt politicians.

We will prepare large-scale supply measures beyond general expectations in consultation with the party and government.

We will massively supply high-quality basic housing where anyone without a home, including the middle class, can live long-term at affordable rent.

We will definitely eliminate the stigma of a ‘real estate unearned income republic’ with the fate of the Lee Jae-myung government at stake.

We will prevent houses and land from becoming sources of speculative income.

We will stabilize housing prices downward and ensure no one suffers because of housing.

Third, we will turn the political disgust crisis into an opportunity for pragmatic politics.

We must end old-fashioned partisan politics.

Politics must be only for the people, only for their livelihood. Nothing can take precedence over the people’s livelihood.

We will make this regular session the ‘first Lee Jae-myung-style livelihood reform National Assembly.’ Just as we legislated the installation of CCTV in operating rooms and improved rest facilities for cleaning and security workers, we will promptly handle pressing livelihood reform tasks and make the National Assembly improve the lives of the people.

Above all, we will embrace the lives of self-employed people and citizens who have suffered greatly from COVID-19.

According to the principle of ‘special compensation for special sacrifice,’ sufficient compensation will be provided to self-employed people who faithfully followed quarantine policies. Appropriate support will also be given to citizens who actively participated in quarantine trusting the government.

We will start by reflecting and innovating ourselves.

Although the democratic government and the Democratic Party have done many good things, we humbly accept criticism that we have not met the high expectations of the people in livelihood.

“Will my life change just because one president changes?”

“Will my household economy improve if the Democratic Party becomes the ruling party?” We admit we cannot confidently answer these critical questions from the people.

We will create new change with thorough responsibility.

As a responsible member of the Moon Jae-in government, both the light and shadow of the Moon Jae-in government are fully my responsibility.

The Lee Jae-myung government, emerging from the same root Democratic Party, will build on the foundation laid by Kim Dae-jung, Roh Moo-hyun, and Moon Jae-in governments, correcting mistakes, filling gaps, and adding what is necessary to surpass them.

Therefore, I promise to create the dream of all of us here,

a newer and more competent 4th Democratic government, a changed and innovated Lee Jae-myung government.

Dear citizens and party comrades!

This presidential election will decide whether we regress to the past or advance to the future. We must prevent the unrepentant return of the corrupt vested interest forces and the state power manipulation forces ousted by the Candlelight Revolution.

We must break the unfairness and inequality spread throughout society, break the vested interest cartel of a few, and move toward a future full of opportunities where fairness and justice breathe.

The corrupt vested interest forces will never step down on their own.

Without reflection or innovation, they are still spreading all kinds of fake news to mislead public opinion and are eagerly waiting for a comeback.

This is by no means an easy fight.

But if we unite and fight together with the people who desire a new Republic of Korea, we can definitely win.

Now, we will go into the people, into their livelihoods.

We will visit every city, county, and corner nationwide to listen to the voices of the people at the sites of their lives and share the vision of the Lee Jae-myung government with them.

The challenge for a new country has begun.

Today, we have completed all preparations for departure.

We have Song Young-gil, the Democratic Party leader who will innovate the party and lead the presidential election to victory.

All 169 members of the National Assembly have become one body.

All candidates who competed have united with one heart.

All party members and supporters have joined forces.

The strongest ‘Korea Great Transition Campaign Committee’ ever to create the fourth Democratic government, the Lee Jae-myung government, has launched.

This is a dream team that will create the victory of Lee Jae-myung, the Democratic Party, and the people, following the victories of Kim Dae-jung, Roh Moo-hyun, and Moon Jae-in.

Dear citizens, please join us on this hopeful journey.

Comrades, please join us on the path to creating a new Republic of Korea.

We can do it. We must do it.

I ask you.

Are you confident in creating a country where tomorrow is better than today?

A fair and just country where the value of sweat is respected,

a country where young people can enjoy opportunities and dream of the future, can you create it?

A country where challenges are guaranteed to rise again even if you fail,

a world where the strong do not tyrannize and the weak are helped, where everyone lives together, can you create it?

I, Lee Jae-myung, will take the lead.

If it is the path we must take, I will lead without hesitation.

With firm courage, determination, and strong driving force, I will definitely accomplish what the people command.

Even if the new path is thorny and torn, I will make the path the people walk a flower path.

I will make it so that the people do not worry about the president and politics, but the president and politics worry about the people and the country.

When I, Lee Jae-myung, act, please respond with ‘We do.’

Together with Song Young-gil, the Democratic Party’s great change, Lee Jae-myung acts.

With party members, victory in the 20th presidential election, Lee Jae-myung acts.

With the people, Korea’s great transition, Lee Jae-myung acts.

Thank you.

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