Lee: "Do not worry about military conflict crisis... I will grow the defense industry to create economic opportunities"

Democratic Party to Set Political Reform as Party Policy at General Assembly
"Will Raise LTV to 90% for First Home Purchase"

[Asia Economy Reporter Naju-seok, Changwon·Busan=Reporter Lee Myung-hwan] Lee Jae-myung, the Democratic Party of Korea's presidential candidate, toured the Busan, Ulsan, and Gyeongnam areas on the 27th, promising political reform and more. Regarding Russia's invasion of Ukraine and related issues, Lee also revealed plans to turn the crisis into an opportunity to enhance defense industry competitiveness.

[Image source=Yonhap News]

At a campaign rally held at Sangnam Fountain Square in Changwon, Gyeongnam, Lee said, "Politics should become the most enjoyable national sport," and promised, "After the election, people become enemies trying to kill each other, but at 8 p.m. today, the Democratic Party will set the party line on (political reform) at the party meeting."

He added, "The Democratic Party with Lee Jae-myung as the presidential candidate will be different from the past," and said, "The people should be able to choose. There are two groups, so why must you choose only one? A third option must be possible."

Lee stated, "We will firmly implement political reform and electoral system changes that allow a multi-party system with a third choice," and said, "Let's stop merging during elections and allow a runoff voting system where if no one surpasses the majority, alliances can be formed."

Regarding COVID-19, Lee said, "(The current government) defended the situation best," and added, "It has now become at the level of the flu. The economy is recovering best in the world, and the government did well."

[Image source=Yonhap News]

Additionally, Lee said, "There are things hard to understand in life, such as finance," and stated, "Politics should be about strengthening the weak and creating a great society, but this did not work in banks," promising, "We will provide opportunities to borrow about 10 million won at slightly above bank interest rates for 5 to 10 years, and for first-time homebuyers, we will raise the LTV to 90% for the first time."

At a focused campaign rally held in Jin-gu, Busan, he said, "Winning by fighting is necessary but a last resort, and what good is winning after death?" and added, "Winning without fighting is skill, but this is also a heavy responsibility. The real skill is creating peace where fighting is unnecessary," and said, "(The current government) has spent more on defense than any other administration and has increased the number of weapons exported over imported."

He said, "Others feel anxious watching wars in other countries and the rising threat of military conflicts, but we have a strong Korea-US alliance and economic power that spends more on defense than North Korea’s annual GDP," and said, "Do not worry," adding, "If Lee Jae-myung takes charge of security issues, he will use the crisis to firmly grow the defense industry and create economic opportunities for us to advance globally."

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