Yang Hyang-ja, Founding Member Meeting for Hope Party in Korea Today
Lee Nak-yeon’s Return Sparks Intense Interest in Political Realignment
Ruling Party Moves to Secure Budgets for Chungcheong and Jeju Regions
With next year's general election approaching, preparations for the election have officially begun in the political sphere. Although there are still variables regarding the election system reform, the formation of new parties ahead of the election is accelerating, which is expected to speed up the political reform timeline before the general election.
Independent lawmaker Yang Hyang-ja, formerly of the Democratic Party, will hold a founding initiator meeting for the new party ‘Hope of Korea’ on the 26th at the Korea Federation of SMEs building in Yeouido, Seoul, and will launch the party preparation committee. The initiator meeting will preview the participating figures and the vision of the new party. As a semiconductor expert currently serving as the chairman of the People Power Party’s Semiconductor Special Committee, Representative Yang announced plans to create a blockchain party named ‘Hope of Korea.’
Earlier, Representative Yang mentioned that more than five incumbent lawmakers would participate in the new party’s formation. In a phone interview with this publication, he said, "I have no interest in the two major parties. We aim to move towards politics without privileges," adding, "People who want to join are already prepared. Today, we will reveal about 200 initiators." He plans to complete the party formation by August and open a political academy with about 100 students starting in September.
Former lawmaker Geum Tae-seop, who left the Democratic Party, has also started the party formation process aiming to hold an initiator meeting during this year’s Chuseok holiday. Geum has already set a target of 30 seats in the metropolitan area. Former emergency committee chairman of the People Power Party, Kim Jong-in, has also expressed his willingness to assist.
The Justice Party has decided on a reformation path to form a new party in cooperation with third political forces. Justice Party leader Lee Jeong-mi explained at a press briefing the day before, "We will seek integration and solidarity with various civil society groups and third political forces centered on labor and green political forces." However, there remains a possibility of internal division. The ‘Third Power’ faction within the Justice Party, led by lawmakers Jang Hye-young and Ryu Ho-jeong, holds the view that cooperation with external forces such as former lawmaker Geum Tae-seop is necessary, showing differences with the party leadership. The Justice Party plans to establish a new party promotion task force in September, prepare a new party proposal, and hold a founding convention between late September and early October to finalize it.
Attention is also focused on the actions of former Democratic Party leader Lee Nak-yeon, who has returned after his stay in the United States. During the last presidential election, Lee fiercely competed as the Democratic Party’s presidential candidate, and there has been ongoing speculation in political circles that he could become a new alternative for the Democratic Party. Former Democratic lawmaker Shin Kyung-min, who served as the executive vice chairman of the Lee Nak-yeon campaign, said on MBC Radio’s ‘Kim Jong-bae’s Focus’ on the same day, "Many people come and talk about a new party, but I don’t think the current atmosphere is like that," adding, "Lee Nak-yeon has not mentioned anything about a new party." However, Shin said, "There are many people who talk to him about a new party," and "There is definitely a desire to do something for the party now," conveying the atmosphere.
However, the prevailing view is that Lee will focus on reforming the Democratic Party. Democratic Party lawmaker Yoon Young-chan said on CBS Radio’s ‘Kim Hyun-jung’s News Show,’ "His future actions will ultimately focus on how to restore the Democratic Party’s identity and values and spirit."
The political sphere is not optimistic about the formation of new parties. Former People Power Party lawmaker Yoo Seung-min said on KBS Radio’s ‘Choi Kyung-young’s Strong Current Affairs,’ "It seems that the political space that attracts public interest for new parties is always open," adding, "As someone who has been on the asphalt for three and a half years trying to form a reform conservative new party, I believe that without a life-or-death determination, forming a new party will not be easy." In particular, the recently discussed third zone new party is also seen as having a low chance of success due to the absence of a next presidential candidate-level central figure.
Meanwhile, the People Power Party is continuing its general election campaign by putting livelihood issues at the forefront. On the same day, the People Power Party held budget policy consultations targeting the Chungcheong region including Daejeon, Sejong, North Chungcheong, South Chungcheong, and the Jeju region. This area, where neither the ruling nor opposition party can guarantee absolute dominance, is attracting attention as it is expected to be a benchmark region for the outcome of next year’s general election. The People Power Party is interpreted as leveraging its premium as the ruling party to secure budget for local projects. Previously, the party also held budget policy consultations by directly visiting Gangwon (on the 20th) and Honam (on the 14th).
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
