Lee Jaemyung, the presidential candidate of the Democratic Party of Korea, stated during the economic sector TV debate for presidential candidates held on the 18th that, in order to revive the struggling economy affected by high interest rates, high inflation, and sluggish domestic demand, "It is important to implement a supplementary budget (extra budget) to revitalize the economy for ordinary people and boost domestic demand."
He added, "In the short term, the government must play a role because the economy for ordinary citizens is currently facing severe difficulties. Households, businesses, and the government all have appropriate roles to play, but the government must act as the coordinator."
He continued, "Long-term measures are also necessary, and we must restore our growth engines. We need to foster advanced technology industries, including artificial intelligence (AI), nurture the renewable energy sector, and especially develop the cultural industry to create new opportunities, ensuring fair chances for growth within these sectors."
Lee Junseok, the candidate of the Reform New Party, remarked, "Low growth brings pain to everyone. However, candidate Lee Jaemyung has advocated for a bizarre economic theory, suggesting that as long as money circulates, such as when hotel reservations are canceled and refunds are issued, the economy will recover. But economic growth does not work that way. The essence of growth lies in improving productivity."
Kim Moonsoo, the People Power Party presidential candidate, is attending the 21st presidential election candidate debate hosted by the National Election Commission at SBS Prism Tower in Mapo-gu, Seoul on the 18th. On the left is Lee Jaemyung, the Democratic Party presidential candidate. 2025.5.18 Photo by National Assembly Press Photographers Group
He further stated, "Industries cannot be competitive if demand is artificially inflated. Our country survives on exports. We must enhance people's capabilities so that jobs are not replaced by AI and robots."
Kim Moonsoo, the presidential candidate of the People Power Party, said, "As a measure to vitalize the people's economy, I will ensure that jobs for the most economically sensitive groups-self-employed individuals and small business owners-are protected. To stimulate consumption, we will provide substantial support and also adjust the debts of small business owners," he emphasized. Kim also said, "We will further strengthen financial support. The construction industry has recently been facing significant difficulties, and we will prepare special support measures for this sector as well."
Kwon Youngguk, the presidential candidate of the Democratic Labor Party, stated, "Instead of tax cuts for the wealthy, we need to increase taxes on the wealthy. We must hold large corporations and high-income earners accountable in a fair manner and return those resources to the people. We will provide fair compensation and a social safety net," he proposed.
On the 18th, presidential candidates from each political party pledged their efforts at the 21st Presidential Election Candidates Debate hosted by the National Election Broadcasting Debate Commission held at SBS Prism Tower in Mapo-gu, Seoul. From the left, Kim Moonsoo of the People Power Party, Kwon Youngguk of the Democratic Labor Party, Lee Junseok of the Reform New Party, and Lee Jae-myung of the Democratic Party presidential candidates. 2025.5.18 Photo by National Assembly Press Photographers Group
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