[Asia Economy Reporters Naju-seok and Kwon Hyun-ji] Kim Dong-yeon, the People Power Party's presidential candidate, announced his withdrawal from the race on the 2nd and declared his support for Lee Jae-myung, the Democratic Party's presidential candidate.
At a press conference held at the New Wave party headquarters that day, Candidate Kim stated, "I am stepping down from the presidential candidacy today," and added, "From today, I will tie my shoelaces again to work for the election of Candidate Lee Jae-myung."
Candidate Kim said, "Yesterday, I agreed with Candidate Lee on a 'Joint Declaration for Political Change,'" and added, "I believe this declaration will be the starting point for 'political change.' Starting from here, I believe we will break the entrenched vested interest structures woven tightly throughout South Korea's politics, economy, and society."
Regarding the joint declaration, he explained, "It includes constitutional amendments to reduce the presidential term by one year and curtail powers, political reforms to break the two-party system and reduce the privileges of lawmakers, and plans to operate major national policies beyond factional lines and form a government of national unity," emphasizing, "Political change will serve as a stepping stone to form a unified government and resolve issues such as real estate problems and economic difficulties."
Concerning his withdrawal, Candidate Kim asked his supporters to "understand that this was a difficult decision made to realize the values and philosophy we pursue," and promised, "I, Kim Dong-yeon, along with 'New Wave,' will not stop leading and monitoring to ensure that the spirit of breaking vested interests is properly practiced."
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