Lee Jae-myung: "As the leading party, we will hold responsibility for the diplomatic fiasco... We will stop policies that fill the 'rich pantry'"

First Negotiation Group Representative Speech
Lee Jae-myung "Will Clearly Hold Responsible for Diplomatic Disaster
Warning Against Blaming Media and Opposition Party"

Lee Jae-myung, leader of the Democratic Party of Korea, is delivering a negotiation group representative speech at the plenary session held at the National Assembly on the 28th. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Koo Chae-eun] Lee Jae-myung, leader of the Democratic Party of Korea, directly targeted the controversy surrounding President Yoon Seok-yeol’s diplomatic tour, stating, "As the ruling party, we will clearly hold responsibility for this diplomatic fiasco." Regarding economic policy, he sharply criticized, "The policy of 'emptying the wallets of the common people to fill the vaults of the rich' only expands polarization and inequality." Alongside this, he demanded the formation of special committees on the climate crisis and constitutional amendment, and proposed a conditional easing of sanctions on North Korea’s nuclear issue.

In his first floor speech as the leader of the negotiation group at the National Assembly that day, Lee referred to President Yoon’s visits to the UK and the US, criticizing, "A condolence diplomacy without condolences and a humiliating Korea-Japan summit have damaged the nation’s dignity. Discussions on the Inflation Reduction Act (IRA) to correct discrimination against electric vehicles and the Korea-US currency swap, which were key agenda items of the tour, were not even brought up." He also appeared to respond to the presidential office and ruling party’s characterization of President Yoon’s private remarks controversy as a ‘subtitle manipulation incident,’ warning sternly, "Attempts to shift responsibility onto the public, the media, and the opposition will never succeed."

Regarding economic measures, Lee clearly positioned himself in opposition to the Yoon administration. He pointedly mentioned corporate tax cuts, the abolition of progressive property tax, and budget cuts to local currency programs, stating, "To enhance the nation’s ability to respond to the economic crisis, the role of the state must be strengthened, but the government and ruling party are going in the exact opposite direction." He also referred to the high inflation, high interest rates, and high exchange rates, saying, "At times like these, just like major advanced countries, the state’s role must be strengthened to protect the people and improve crisis response capabilities," and criticized, "The government is compensating for the revenue shortfall caused by preferential tax cuts by cutting budgets for the common people."

At this occasion, Lee proposed the formation of a special committee on constitutional amendment. Regarding the amendment, he said, "The single five-year presidential term should be changed to a four-year renewable term to enable responsible governance and enhance continuity in state affairs." He emphasized, "The 22nd general election, which falls in the middle of the presidential term, is the right time." Holding a national referendum alongside the 2024 general election would minimize costs and allow for changes to the ‘1987 system.’ As political reform tasks, he mentioned amendments to the election law such as expanding the mixed-member proportional representation system and introducing a recall system for members of the National Assembly.

Regarding North Korea’s declaration to use nuclear weapons preemptively, he described it as "shocking," but proposed conditional easing of sanctions as a solution to the North Korean nuclear issue. He said, "It is shocking and serious that North Korea intends to use nuclear weapons not just defensively but also preemptively," and added, "As a realistic alternative, I propose ‘conditional sanction relief (snapback) and phased simultaneous actions.’" He also stated, "I do not support unilateral policies solely for North Korea," and declared, "We will firmly demand changes to North Korea’s wrongful practices and attitudes."

As an economic vision, Lee expanded the basic series into a ‘Basic Social Theory.’ He urged cooperation from the ruling party, saying, "The first clause of Article 1 in the People Power Party’s platform also specifies basic income," and added, "The unfinished promise of former President Park Geun-hye, which was to provide a monthly basic pension of 200,000 won to all elderly people, was in fact an elderly basic income."

Lee also criticized the government’s expansion of nuclear power in response to climate change and proposed the establishment of a National Assembly Special Committee on Climate Crisis and Carbon Neutrality. He emphasized responding to local extinction by mentioning the formation of a ‘Special Committee on Population Crisis and Ultra-Low Birthrate Measures.’ Additionally, he mentioned the five major national care responsibilities, fair allowance system for irregular workers, a 400,000 won basic old-age pension, selective conscription system, and expansion of retirement age.