After Russia's invasion, Lee says "Peace is economy" vs Yoon "Strong deterrence"... Who has the advantage in the war-time presidential race?

On the 24th (local time), Russia finally invades Ukraine
Lee & Yoon hold 'emergency meeting'... differing security views
Lee Jae-myung "Peace for economy" vs Yoon Seok-yeol "Peace through strength"
Experts "Ukraine situation will affect presidential election... need to watch"

Yoon Seok-yeol, the People Power Party presidential candidate (left), and Lee Jae-myung, the Democratic Party of Korea presidential candidate, greet each other before the start of the first invited debate for the 20th presidential election hosted by the National Election Commission at the MBC Media Center Public Hall in Mapo-gu, Seoul, on the afternoon of the 21st. [Image source=Yonhap News]

[Asia Economy Reporter Yoon Seul-gi] As the 20th presidential election approaches, attention is focused on the security policies of the presidential candidates following Russia's invasion that triggered the Ukraine crisis. The contrasting security perspectives of the major party candidates are highlighted, and it is anticipated that the course of the war will influence voters' preferences.

On the 24th (local time), Russia finally launched an invasion of Ukraine. Russian President Vladimir Putin declared, "Russia will conduct a special military operation in the Donbas region of eastern Ukraine." Russian forces simultaneously attacked key cities and border areas in the east, south, and north, including the Ukrainian capital Kyiv. Ukrainian President Volodymyr Zelensky announced on the 25th that 137 Ukrainians have died and 316 have been injured due to the Russian military attacks so far.

The shock of the outbreak of war also shook global financial markets. Stock prices and cryptocurrency values plummeted worldwide, and international oil prices reached $100 per barrel for the first time since 2014. South Korea's KOSPI opened at 2,689.28, down 30.25 points (1.11%) from the previous session.

As the Ukraine crisis is expected to impact South Korea, attention is focused on the security policies of the presidential candidates with just over ten days left until the election. In this context, the major party candidates held emergency meetings to highlight their crisis response capabilities.

Lee Jae-myung, the Democratic Party presidential candidate, is speaking at an emergency security and economic joint meeting held at the central party office in Yeouido, Seoul, on the afternoon of the 24th.
[Image source=Yonhap News]

The first to speak was Lee Jae-myung, the Democratic Party presidential candidate. On the 24th, during campaigns in Chungcheong and Gangwon, he mentioned the news of Russia's invasion and emphasized peace for economic stability. He said, "Even if a war breaks out in a country on the opposite side of the globe that has nothing to do with us, our stock prices are falling," stressing, "The economy grows through stability."

Lee then immediately moved to the Democratic Party headquarters in Yeouido, Seoul, to preside over an 'Emergency Security-Economy Joint Meeting on the Ukraine Crisis,' expressing "strong regret over Russia's invasion of Ukraine" and stating, "Even if you win a war, it leads to mutual destruction; peace is economy and food." He placed emphasis on 'peace and security,' one of his five major visions, linking it to the economy to highlight his image as an 'economic president.'

On the other hand, candidate Yoon emphasizes 'peace through strength' in line with his 'strong security' pledge. Yoon Seok-youl, the People Power Party presidential candidate, held an emergency meeting at the party headquarters in Yeouido, Seoul, on the same day, saying, "We must cooperate with allied countries such as the United States, the United Kingdom, France, Germany, and Japan?liberal countries that abide by international law?to peacefully resolve this crisis."

Yoon added, "We must abandon obsession with a declaration of the end of the war and, based on the solid cooperation of the Korea-U.S. alliance and the international community, implement practical diplomatic strategies to prevent North Korean provocations and stabilize the Korean Peninsula." He stated, "The reality of international diplomatic security is harsh. We must clearly recognize that this is not just a tragedy happening in a distant country but a vivid lesson for us surrounded by great powers." Previously, Yoon had emphasized maintaining peace through strong military power, including strengthening the Korea-U.S. alliance and deploying THAAD.

Yoon Seok-yeol, the presidential candidate of the People Power Party, is speaking at an emergency countermeasure meeting related to the Ukraine situation held on the afternoon of the 24th at the party headquarters in Yeouido, Seoul.
[Image source=Yonhap News]

With differing stances on the Ukraine crisis among the presidential candidates, attention is focused on which candidate's security perspective will be more advantageous in garnering voter support. Experts evaluate that the two candidates have distinct security views and analyze that the future course of the war could influence voter preferences.

Choi Jin, director of the Presidential Leadership Institute, said, "The biggest difference between the two candidates' pledges lies in their foreign and security policies. Candidate Lee emphasizes 'peace maintenance,' while candidate Yoon stresses 'security reinforcement.' I believe the Ukraine crisis will significantly affect their approval ratings and the movement of moderate voters." He added, "Since Russia, which invaded, is allied with China, and China is allied with North Korea, the North Korea-Russia-China triangular alliance and the Korea-U.S.-Japan trilateral alliance may become more prominent. If the Ukraine crisis escalates and a new Cold War structure forms, the importance of security will be further emphasized."

Professor Shin Yul of Myongji University's Department of Political Science and Diplomacy explained, "Ukraine was the world's third-largest nuclear power but gave up its nuclear weapons in 1994 by signing the Budapest Memorandum on Security Assurances with Russia, the United States, and the United Kingdom after the dissolution of the Soviet Union. Despite security promises, Russia's invasion led to war, showing that written security assurances were ineffective." He added, "This could lead to debates over the validity of a declaration of the end of the war in our country, followed by issues related to North Korea's nuclear weapons." He predicted, "How the public perceives the security pledges presented by the presidential candidates will be a key point to watch in this election."

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