Kim Jong-in's Presidential Bid Rumors in 'Baramgyeol'... If the Talent Shortage Persists

Kim Jong-in, the Emergency Committee Chairman of the People Power Party, is attending the Emergency Committee meeting held at the National Assembly on the 28th and delivering an opening remark. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Park Cheol-eung] "I've heard it on the wind. Anything is possible."

This was how Lee Nak-yeon, leader of the Democratic Party of Korea, referred to the 'Kim Jong-in chairman's presidential bid rumor' in an interview with the media last month. His words were cautious as usual, but carried considerable weight. Along with Lee Jae-myung, governor of Gyeonggi Province, he did not rule out the possibility of Kim as a potential opposition candidate for the presidency.

Born in 1940, at the age of 80 by Korean age, he could have emerged as an even more viable candidate. Of course, he has repeatedly denied this. Nevertheless, the rumor keeps surfacing like smoke, reflecting the People Power Party's struggle with a shortage of strong figures.

Even before the crushing defeat in the April general election, there were many talks about the party's lack of competitiveness in terms of personnel, regardless of other conditions. The immediate pressing issue is next year's Seoul mayoral by-election. Former Mayor Oh Se-hoon, former lawmaker Na Kyung-won, and Seocho District Mayor Cho Eun-hee are mentioned, but many view them as unsuitable candidates for the People Power Party, which is trying to change its name and create a new identity. Chairman Kim's thoughts seem to align with this. The rise of Rep. Yoon Hee-sook as a candidate is interpreted as a preference for someone without strong ties to the existing political establishment.

Chairman Kim appears to emphasize the need to recruit fresh talent in the economic sector. However, how smoothly this will happen remains uncertain.

Of course, the core issue is the presidential election. In some polls, Lee Nak-yeon and Lee Jae-myung each hold about 20%, while the third place is often Prosecutor General Yoon Seok-youl, who is not a politician.

This is an awkward situation for the People Power Party. The ongoing speculation about an alliance with Ahn Cheol-soo, leader of the People’s Party, stems from the difficulty in finding suitable candidates at present.

Possibilities can grow out of necessity. If Chairman Kim presents a new identity that gains public support and strengthens alternative proposals, he could become one of the options. The key is substantive change, and the test will be the economic democratization bills. There is already considerable opposition within the party. If Chairman Kim can manage and overcome this to establish the stature of a new conservative party, his position and future are likely to change.

He has previously expressed feeling "betrayed" by both former President Park Geun-hye and President Moon Jae-in. The surest way to avoid betrayal may be to take the lead himself. The phrase "100-year era" might serve as encouragement.