Lee Jae-myung Emphasizes "Smart Quarantine and the Era of 5000 Stock Index" in the Heart of Gangnam

"Rapid Spread of COVID-19 Infection... Lockdown Impossible, Flexible Quarantine System Needed"
"Serious Korea Discount... Will Create Stock Index 5000 with Fair and Transparent Growing Companies"
"A Nation Giving Opportunities to Youth... Building 100,000 Households in Yongsan, Prioritizing Youth Supply"

[Asia Economy Reporters Oh Ju-yeon and Lee Myung-hwan] Lee Jae-myung, the presidential candidate of the Democratic Party of Korea, emphasized overcoming the COVID-19 crisis and economic recovery during his campaign speech at Gangnam Station in Seoul on the 16th, proposing "smart quarantine and an economic booster shot."

Lee Jae-myung, the Democratic Party presidential candidate, is appealing for support at the 'JM is Gangnam Style!' election campaign held near Gangnam Station in Gangnam-gu, Seoul on the 16th. Photo by the National Assembly Press Photographers Group

Lee Jae-myung, the Democratic Party presidential candidate, is signing a pledge to eradicate stock price manipulation and achieve a 5,000-point stock market era during the 'JM is Gangnam Style!' election campaign held near Gangnam Station in Gangnam-gu, Seoul, on the 16th. Photo by National Assembly Press Photographers Group

On the second day of the official presidential election campaign, Lee said, "The speed of COVID-19 infection spread is too fast," adding, "Since lockdowns are impossible, the quarantine system must be made flexible." He explained, "Quarantine has now reached a major turning point. Instead of complete lockdowns, we need to implement flexible and smart quarantine measures, firmly manage the medical system for severe patients, and provide an economic booster shot so that citizens can maintain at least a minimum level of economic activity."

He also promised, "We will provide compensation and support commensurate with the sacrifices made by the people for quarantine," and pledged, "I will take responsibility by either preparing a supplementary budget or invoking the national emergency financial authority the moment I am elected, to cover the estimated 40 to 50 trillion won in damages suffered by the people."

On this day, Lee also made remarks targeting the youth demographic.

He said, "We will create a country of opportunities for youth," emphasizing, "This is not about winning youth votes, but about building a system that allows young people to try again. We must also increase opportunities for youth to participate in the asset market."

Referring to the stock market, he stated, "We will ensure the stock market does not operate unfairly," and proposed an era of a 'stock index of 5000.'

Lee pointed out, "The Korea discount is severe," explaining, "The same company’s stock is worth 100,000 won in other countries but only 60,000 won in Korea." Regarding stock manipulation, he questioned, "Who would trust the stock market when investigations are started and then dropped, or only some cases are selectively investigated as retaliation?" He added, "This is because the market is opaque, unfair, and lacks growth potential."

Furthermore, he pledged to foster the virtual asset market, saying, "We will provide everyone with investment opportunities based on virtual assets linked to national land development, so that those who want opportunities can all participate."

Lee also promised to improve the housing environment for young people.

He said, "It would be nice to expand the park at Yongsan Park, but since the situation is very difficult, we will build 100,000 housing units there and prioritize supplying them to youth," asking his supporters, "Do you agree?" He continued, "If that is not enough, we must increase it accordingly. When supplying the 3.11 million housing units pledged, 30% of public housing must be allocated to youth unconditionally," adding, "We just need to build houses of a size where they can live comfortably."

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