Lee Jaemyung Holds Press Conference at Democratic Party Headquarters in Yeouido on the 25th
"Considering Establishment of a Separate Body for Regulatory Reform"
"Economic and Industrial Policies Should Be Practical, Not Ideological"
Lee Jaemyung, the presidential candidate of the Democratic Party of Korea, stated that he would consider shifting to a negative regulatory approach-which clearly defines only what is prohibited-for fostering advanced industries such as artificial intelligence (AI) and semiconductors. He also emphasized that policies regarding industrial and economic sectors, including renewable energy, should be approached from a practical perspective rather than through ideological lenses.
During a press conference held at the Democratic Party headquarters in Yeouido, Seoul, on May 25, Lee said, “Regulatory reform to revitalize advanced industries and corporate activities will be a major task for the new administration,” adding, “We are considering a full adoption of negative regulations in the field of advanced technology industries.”
Lee elaborated, “Currently, we use a positive regulatory approach, which allows only what is explicitly permitted and prohibits everything else. Going forward, we plan to specify only what is not allowed, leave the rest open, and add further restrictions only when necessary after the fact.” He also expressed his intention to establish and operate a separate body dedicated to regulatory reform.
Regarding economic and industrial policies, Lee stressed the principle of a “practical approach.” He questioned, “Why should ideology be applied to economic and industrial policies?” and added, “Even if the president gathers industry leaders and secures investment pledges, companies will only invest if it is profitable for them; otherwise, they will not.”
In particular, Lee criticized other candidates for attacking renewable energy initiatives by associating them with being “pro-China.” He stated, “We should not claim that renewable energy is an ideological policy,” and clarified, “When it comes to renewable energy and nuclear power, my stance is that we should use them if necessary, not that we should avoid them altogether.”
He continued, “If we appropriately mix energy sources such as renewable energy, it will also increase the income of rural and fishing communities.” He further emphasized, “There are areas where renewable energy is needed to respond to RE100, but some are trying to inject ideology into this.” He added, “The economy must find a way to thrive; we must not drive it into a corner with ideological divisions that prevent economic growth.”
While acknowledging the need for a supplementary budget (extra budget) for industrial sectors, Lee stressed that the current focus should be on supplementary budgets aimed at short-term economic stimulus and recovery of livelihoods. He said, “It may not be feasible to pursue an extra budget for industrial support right now; instead, we should focus on supplementary budgets for neighborhood businesses and immediate livelihood issues.”
Lee has previously announced in his opening remarks that, if elected, he would operate an emergency economic response task force (TF) led by the president to restore the people’s livelihoods. Regarding this, he said, “Given the current urgent situation, I believe we need to bring together both working-level officials and leadership groups to address livelihood issues,” adding, “Once the major pending issues are resolved, we plan to return to the normal state governance system.”
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