Lee Jae-myung "Stock Prices Fell Due to Ukraine Invasion Issue... This Is the Impact of War on the Economy"

"Economy and Safety Are Identical Twins"
Targeting Yoon Seok-yeol: "'THAAD Deployment' Mention Causes Public Anxiety"

[Asia Economy Reporter Oh Ju-yeon] Lee Jae-myung, the presidential candidate of the Democratic Party of Korea, said on the 24th regarding the Ukraine situation, "Although it is a matter of a foreign country on the opposite side of the globe, our country's stock prices are falling due to Russia's invasion of Ukraine," adding, "This is the impact of war and insecurity on the economy." He then criticized Yoon Seok-yeol, the presidential candidate of the People Power Party, for his remarks on the 'additional deployment of THAAD (Terminal High Altitude Area Defense),' saying, "We should not make reckless statements that cause economic harm to the entire nation."

On the morning of the same day, Candidate Lee mentioned the Ukraine situation during a campaign rally in Chungju, Chungbuk, saying, "The economy and security are identical twins."

[Image source=Yonhap News]

He stated, "Although it is the same stock, our country is only recognized at 60% of the value compared to the US and Europe due to geopolitical risks," emphasizing, "We suffer from the 'Korea discount' because of the risk that war might break out due to poor inter-Korean relations."

He continued, "When the economy is dying and people's lives are ruined due to escalating war threats, proposing to install unnecessary THAAD systems in Chungcheong, Gangwon, and the metropolitan area may create security anxiety to gain votes, but it will harm the entire nation," criticizing Candidate Yoon.

Candidate Lee said, "Peace is money, food, and the economy," and drew support from his followers by asking, "Who is the candidate that does not exploit security for political gain, does not cause public anxiety through security populism, and does not ruin the economy due to security threats?"