Fierce Debate on Economic Revitalization in First TV Debate: Key Issues Include Supplementary Budget, Growth, AI, and Nuclear Power

Lee: Reviving the Economy and Domestic Demand for Ordinary People
Kim: Protecting the Self-Employed and Small Business Owners
Lee: Renewed Growth Through Education and Growth Potential

In the first televised debate for the 21st presidential election candidates, the contenders clashed head-on over solutions for revitalizing the economy. Lee Jaemyung, the candidate from the Democratic Party of Korea, emphasized the government's leading role in the short term through the formulation of an additional supplementary budget. Kim Moonsoo, the People Power Party candidate, advocated for targeted support for self-employed individuals and small business owners. Lee Junseok, the Reform New Party candidate, argued for a long-term approach focused on education and growth potential.

Although there were expectations that this economic debate among presidential candidates would provide a blueprint for national governance, some assessed that the discussion fell short of being in-depth due to time constraints, scattered topics, and negative attacks. However, the major presidential candidates made the most of this opportunity to showcase their policy capabilities to voters and concentrated on winning their support.

During the economic debate for presidential candidates hosted by the National Election Broadcasting Debate Commission on the 18th, Lee Jaemyung stated, "It is important to revive the economy for ordinary people and boost domestic demand through a supplementary budget. The government needs to play its part." He emphasized, "The government should act as a coordinator, and as a long-term measure, it should create new areas by fostering high-tech industries such as artificial intelligence (AI) to restore growth momentum."

On the 18th, presidential candidates from each political party pledged their efforts at the 21st Presidential Election Candidate 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 of Korea. 2025.5.18 Photo by National Assembly Press Photographers Group

Kim Moonsoo said he would focus on protecting the self-employed and small business owners. He promised, "We will restructure debt and strengthen financial support for small business owners," and added, "We will completely overhaul regulations so that companies can create quality jobs." He also stated, "We will provide special benefits to companies that create jobs and will firmly support research and development (R&D) at each university." Lee Junseok argued, "Low growth is painful for everyone. The essence of growth lies in improving productivity."

The candidates also debated AI activation and the nuclear power policy needed to support it. Lee Jaemyung said, "An energy mix that combines nuclear, renewable, and other energy policies is necessary," and added, "Nuclear power fundamentally carries risks and persistent issues." He asserted, "We should use nuclear power in moderation when possible, but transition toward a society centered on renewable energy."

Kim Moonsoo countered, "Well-managed nuclear power plants are not dangerous; they are safer and more environmentally friendly," pointing out, "The production cost of nuclear power is one-eighth that of wind power and one-sixth that of solar power." Lee Junseok sided with Kim Moonsoo in their debate with Lee Jaemyung, saying, "I am concerned that Lee Jaemyung is letting environmentalist rhetoric sway his judgment on matters of national importance."

In the first TV debate, Lee Jaemyung of the Democratic Party of Korea focused on defense, while Kim Moonsoo of the People Power Party and Lee Junseok of the Reform New Party took a more aggressive stance. Despite Lee Jaemyung's strong lead in approval ratings, the offensive by Kim Moonsoo and Lee Junseok did not shift the overall dynamics. When confronted with criticism regarding his past remarks or ambiguities in his foreign policy, Lee Jaemyung responded by saying, "That is a distortion," or "That is too extreme." Kim Moonsoo was also questioned about his relationship with former President Yoon Suk-yeol. Lee Junseok, while focusing his attacks on Lee Jaemyung, was assessed as having failed to actively present his own policy agenda.