Democratic Party Publishes 20th Presidential Election Policy Pledge Book: "We Will Achieve Fair Growth"

Includes 5 Major Visions, 20 Core Tasks, and 272 Policy Pledges

Yoon Hoo-duk, Member of the Democratic Party of Korea. / Photo by Yoon Dong-ju doso7@

[Asia Economy reporters Ki-min Lee and Young-won Kim] The Democratic Party of Korea published the policy pledge book for the 20th presidential election on the 22nd titled "From Now On, Properly Tailored Promises for Me."

The policy pledge book contains 272 policy pledges under five major visions?New Economy, Fair Growth, Livelihood Stability, Democratic Society, and Peace and Security?aimed at realizing a great transformation of the Republic of Korea. It also includes 20 core tasks such as industrial innovation, balanced growth, livelihood vitality, political reform, and a smart strong military.

Regarding the New Economy strategy, Lee Jae-myung, the Democratic Party’s presidential candidate, and the party envision transforming Korea from a follower nation to a leading nation, opening an era of $1 trillion in exports, and advancing to become one of the world’s top five powers to overcome low growth.

Additionally, the pledge book includes commitments to establish a fair economic order and resolve unfairness to realize coexistence, creating a country of opportunity where any company and any citizen can enthusiastically take on challenges.

It also pledges to focus the nation’s resources and capabilities on stabilizing livelihoods and improving citizens’ lives by resolving unfairness.

Furthermore, it emphasizes creating a "Democratic Society" that returns political and judicial powers, which have been abused for private interests, back to the people, while promoting inter-Korean coexistence to realize "Peace and Security," and strengthening Korea’s international standing through practical diplomacy befitting its global status.

The Democratic Party explained that the pledge book includes sector-specific pledges previously announced by candidate Lee, small but certain happiness (So-hwak-haeng) pledges, and detailed pledges prepared by the Democratic Party and the election campaign committee.

The Democratic Party plans to supplement the contents with more feasible details through sufficient discussions during the implementation process and to proceed step-by-step within the scope of available resources. Moreover, since pledges continue to be announced even after the publication of the pledge book, they plan to compile and publish an expanded edition including pledges not recorded in the original book.

Yoon Hoo-duk, head of the Democratic Party’s policy headquarters for the election campaign, explained the purpose of the pledge book, saying, "Currently, Korea is facing low growth and deepening polarization, has encountered the COVID-19 pandemic, and stands at a crossroads of growth and leap amid digital and energy transitions. In 'Lee Jae-myung’s unified government,' we aim to achieve transitional growth through national seed-funding investments in this era of great transformation and to realize fair growth by restoring the balance of power among various sectors of our society."

Yoon also explained, "We have calculated the accumulated resources required for pledge implementation to be between 300 trillion and 350 trillion won, and if additional pledges are included, it could reach up to 350 trillion won."

When asked by reporters which sector requires the most resources for pledge implementation, Yoon answered, "Real estate is an asset, so financial mobilization and the use of housing and urban funds mean it does not require much funding; the largest share is in care and welfare budgets."

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