Hong Jun-pyo "We Must Open the Era of Advanced Countries... Presidential 4-Year Two-Term Constitutional Amendment Pledge"

People Power Party presidential candidate Hong Joon-pyo is attending a party member greeting and press conference held at the People Power Party Gangwon Province Office in Chuncheon, Gangwon Province on the 6th, where he is announcing his pledges. (Photo by Yonhap News)

[Asia Economy Reporter Kum Bo-ryeong] Hong Joon-pyo, a presidential candidate from the People Power Party, has presented three core pledges: constitutional amendment to a four-year presidential term with re-election, revitalization of redevelopment and reconstruction, and more.

On the 7th, at the 'Change Korea, Three Promises' event held in Magok, Gangseo, Seoul, Hong said, "We must change the regime. And we must make it a normal country," adding, "Based on this, we must open the era of an advanced nation."

To achieve 'political reform,' Hong pledged a 'constitutional amendment.' This includes changing the presidential system to a four-year term with re-election and establishing a bicameral legislature. He explained, "The upper house will have 50 members, and the lower house 150 members," and "proportional representation will be abolished." Along with this, he also plans to abolish the parliamentary immunity from arrest for lawmakers.

To develop the economy, Hong emphasized 'revitalizing the private economy.' This means significantly reducing unfair regulations on individuals and companies and expanding market freedom. He stated, "The best welfare is job creation," and "I will increase private sector jobs through corporate innovation and deregulation."

He also proposed measures to normalize the real estate market. Hong raised his voice, saying, "We will stabilize housing prices by significantly increasing supply through high-density urban development, revitalization of redevelopment and reconstruction, and introducing 'quota apartments' in the public sector."

At the same time, he showed a tough stance toward strong labor unions. He said, "Based on my experience fighting strong labor unions as Governor of Gyeongnam, I will issue presidential emergency orders if necessary to stop the misdeeds of strong aristocratic unions and increase labor flexibility."

In the field of diplomacy and security, he plans to completely change the policy direction. Hong said, "The principle of North Korea policy will be mutual non-interference and regime competition, promoted through a German-style unification policy," adding, "We will strengthen the Korea-US-Japan liberal alliance and establish a NATO-style nuclear sharing agreement between Korea and the US to fundamentally counter North Korea's nuclear threat."