The "Economic Democratization" Effect D?j? Vu... People Power Party Takes Lead on Polarization Issue

[Asia Economy Reporters Hyunju Lee and Juni Park] Kim Jong-in, the overall election committee chairman of the People Power Party, identified "resolving economic polarization" as his number one pledge. The view is that addressing the widening economic gap, which has deepened through the foreign exchange crisis and the COVID-19 pandemic, should be the key issue for the next president. This is similar in content and approach to the experience of preempting the progressive camp's agenda of "economic democratization" ten years ago, which led to the victory of then-presidential candidate Park Geun-hye.

On the morning of the same day, Chairman Kim appeared on CBS Radio and emphasized the state's policy intervention to resolve economic polarization. Kim said, "The serious issue over the past two years during the COVID crisis is how to revive those economically devastated." He diagnosed, "People say polarization started after the 1997 'IMF crisis,' and although successive governments have talked about resolving polarization, the gap has only widened." He added, "If left as is, socially unacceptable situations may arise, so I think it is an urgent situation where the next president must make efforts to solve the problem from the start." Kim also shared this policy direction with candidate Yoon on the day he accepted joining the election committee.

This aligns with the announcement of the economic democratization pledge made by former Saenuri Party candidate Park Geun-hye during the 18th presidential election in 2012. It is a method of adopting the progressive camp's agenda as a big picture for centrist expansion. When asked if there might be disagreements within the election committee between factions advocating liberalism and market economy, Kim expressed a strong willingness for state intervention, saying, "The state has an obligation to protect its people, and it is natural for the state to intervene and try to solve such problems. Who would object to that?"

Preempting Progressive Camp's Agenda
Strong Willingness for State Intervention

Kim Jong-in Shares Policy Direction with Yoon
Official Launch of Election Committee This Afternoon

Meanwhile, additional personnel appointments for the election committee were also revealed that day. Im Tae-hee, a former presidential office chief known as a close aide to Chairman Kim, was named general situation chief of the election committee. In the interview, Kim also confirmed the expected inclusion of former lawmakers Geum Tae-seop and Yoon Hee-sook. Regarding the possibility of disagreements with co-chairman Kim Byung-joon over future appointments or election committee leadership, Kim dismissed concerns, citing party rules that one election committee chairman oversees everything. On recent approval rating trends and the presidential race, he said, "The atmosphere from the Seoul mayoral by-election is still alive," adding, "The People Power Party candidate must not lose this and must continuously maintain efforts."

The election committee will hold its official launch ceremony this afternoon. Before the launch, candidate Yoon posted on Facebook, stating, "Politics is not done by one person but by many people," expressing his ambition to create a people-unifying election committee. He said, "In forming the election committee, I thought the process should be one of national unity," adding, "Even if men and women in their 20s and 40s have different understandings and sentiments, I believe we must and can become one on the path toward a greater Korea and a better future." He is also expected to emphasize freedom and fairness, economic growth, creation of quality jobs, a fair society, a land of opportunity, and the establishment of a robust social safety net.