[6.1 Local Election] Who Will Win the 'Wealthy Rivalry' Gangnam District Mayor Election?

Democratic Party's Current District Mayor Jeong Soon-gyun Nominated Unopposed... People Power Party Fields Josungmyung, Former District Council Chairman and Wealthiest Self-Made Candidate Among 7,528 Local Election Contenders Nationwide

[Asia Economy Reporter Park Jong-il] The candidates for the Seoul Gangnam District Mayor in the 8th local elections on June 1 have been confirmed.

The candidates are Jeong Soon-gyun (70), the current district mayor from the Democratic Party, and Cho Seong-myeong (65), former chairman of the Gangnam District Council from the People Power Party.

The Democratic Party is putting forward the incumbent Jeong Soon-gyun as the sole candidate, expressing the intention to be evaluated on the past four years of district administration.

Four years ago, after the introduction of direct elections for basic local government heads, a progressive candidate was elected as Gangnam District Mayor for the first time in 23 years. Jeong’s victory was largely due to the conservative vote being split among multiple candidates during the 7th local elections. Especially, it was one year after the inauguration of the Moon Jae-in administration and right after the Trump-Kim Jong-un summit, a nuclear-level event, creating an atmosphere where the Democratic Party swept the nationwide local elections.

However, this time it is expected to be a tough race.

The People Power Party regards Gangnam District, one of Seoul’s 25 autonomous districts, as a conservative stronghold that they cannot afford to lose in this local election.

In particular, in the 20th presidential election, current President Yoon Seok-youl won by an overwhelming margin of about 130,000 votes (a 37 percentage point difference), so the party expects no surprises this time. After conflicts between the first and second place candidates in the final primary, former Gangnam District Health Center Director Seo Myeong-ok and former National Assembly member Lee Eun-jae, the party nominated Cho Seong-myeong, former chairman of the Gangnam District Council, as their candidate.

Candidate Jeong Soon-gyun is a former journalist who served as the head of the Government Information Agency during the Roh Moo-hyun administration.

Candidate Cho Seong-myeong has lived in Gangnam for 40 years and is a self-made local politician who runs the D Mart in Dogok-dong. He served as a Gangnam District council member for four terms and as chairman of the Gangnam District Council. He also actively engaged in community service, including serving as chairman of the Barun Living Movement Gangnam Council.

Both candidates are notable for being among the few wealthy candidates running in this local election. Cho was revealed to be the wealthiest among the 7,528 candidates for metropolitan and basic local government heads and council members who registered by 9:30 PM on the final registration day, June 13.

According to the National Election Commission, Cho declared assets worth 51.92 billion KRW as of the end of last year, with tax payments amounting to 4.22393 billion KRW, overwhelmingly higher than other candidates. Cho is known as a self-made wealthy individual who built his fortune by operating D Mart in Dogok-dong and owning buildings.

In contrast, Jeong declared assets of 15.875 billion KRW and tax payments of 369.72 million KRW. Jeong’s assets rank third among the candidates for the 25 district mayors in Seoul. His assets are known to include buildings near Kyobo Tower owned by his businesswoman wife.

Jeong emphasized social responsibility befitting the status of Gangnam residents by creating the brand "ME ME WE." He particularly criticized the Moon Jae-in administration’s handling of the redevelopment of Eonma Apartments in Daechi-dong and the burden of comprehensive real estate tax, as well as Seoul Mayor Oh Se-hoon’s COVID-19 quarantine measures.

Jeong stated, “Simultaneous large-scale projects promising a hundred-year plan for Gangnam are underway, and we have been relentlessly advancing toward a first-class city in all aspects including environment, transportation, childcare, and health,” expressing his intention to challenge for another four years.

On the 15th, Cho said, “Having lived in Gangnam for 40 years, I am practically a ‘Gangnam native,’ and I will completely transform Gangnam, which has been stagnant for 10 years, through redevelopment of aging apartments.”

Cho also expressed his determination to enhance the Gangnam brand value, citing the reverse discrimination Gangnam has faced due to being a wealthy district.

It remains to be seen what the residents’ expectations are for the leader of Gangnam, the “conservative stronghold” with an annual budget well over 1 trillion KRW.