Political Circles Interpret Move as Full-Fledged Presidential Bid
Direction for 'Scale-up' Economic Policy Presented
While Refraining from Explicitly Declaring Candidacy, Mentions 'Preparation'
On the afternoon of the 4th, Seoul Mayor Oh Se-hoon will pay a courtesy visit to former President Lee Myung-bak. While the Seoul city government explains that the meeting is to seek advice on economic growth strategies, it is also being analyzed as a full-fledged move toward a presidential bid.
According to the city, Mayor Oh will deliver a keynote speech at the 'Regulatory Reform Focused on Corporate-Centered Growth' forum held at the Korea Chamber of Commerce and Industry in the morning, and then meet with former President Lee in the afternoon. The Seoul city government explained the background by saying, "The purpose is to share the economic growth strategies discussed at the forum and to gain wisdom from former President Lee for South Korea's renewed growth."
At the morning forum, Mayor Oh stated that South Korea's economy is effectively facing an era of zero growth and proposed an economic revitalization plan centered on corporate-driven growth strategies. The core idea is to abolish regulations that hinder economic vitality and transition to a 'Scale-up economy' through digital financial innovation and tax system restructuring.
In particular, Mayor Oh pointed out inefficient tax structures, high regulatory barriers blocking the growth of advanced industries, and labor market rigidity as obstacles facing South Korea's economy. He also highlighted that despite the emergence of 100 global unicorn companies, domestic startups are blocked by regulatory walls, arguing that the industrial ecosystem needs improvement.
During a discussion chaired by former Deputy Prime Minister for Economic Affairs Yoo Il-ho, Mayor Oh presented his own direction for economic innovation. He said, "Under the current government structure, the tasks divided by ministries for a single corporate activity all operate as regulations," and added, "If we create a 'Deputy Prime Minister for Corporate Growth' to help eliminate these obstacles comprehensively and transform into a 'service government,' we can create an environment where new industries grow and gain global competitiveness."
In political circles, since Mayor Oh is visiting former President Lee after proposing the direction toward a 'Scale-up economy' following regulatory abolition, it is interpreted not as a mere courtesy but as a serious move toward a presidential bid. Above all, with the conclusion of the Constitutional Court's impeachment trial arguments against President Yoon Seok-youl and the possibility of an early presidential election being raised, Mayor Oh is considered a leading presidential candidate within the ruling party.
Recently, Mayor Oh held a constitutional amendment forum with ruling party figures at the National Assembly and, regarding the possibility of running for president, stated, "Because the presidential election schedule is too tight, it is necessary to prepare mentally in advance and organize thoughts as a form of preparation."
In the economic field as well, he is continuously expanding the 'Scale-up economy' based on the principle of 'regulatory abolition.' Arguing that dynamism is needed in Korea's industrial ecosystem, Mayor Oh specifically mentioned, "Semiconductors, automobiles, shipbuilding, petrochemicals, and steel, which were the main industries 20 to 30 years ago, still dominate the Korean economy," and added, "We need to foster new industries such as AI, bio, fintech, and robotics in advanced industries, as well as creative industries like XR, webtoons, animation, and e-sports. To do this, we must create an environment where companies can innovate freely."
He also consistently sends messages targeting Lee Jae-myung, leader of the Democratic Party of Korea. On this day, Mayor Oh criticized Lee, who draws a line against the 'shortening of the presidential term' constitutional amendment, saying, "He is too focused on his own political path." With an early presidential election anticipated, Mayor Oh and other ruling party potential candidates advocate for a constitutional amendment to set the next presidential term at three years, while Lee insists that 'ending the internal conflict' should come first.
In response, Mayor Oh warned, "If one tries to evade the situation with a very superficial idea of 'impeachment resolution is a priority now because it is disadvantageous to me politically,' considering political gains and losses, it will face significant public resistance."
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