[Viewpoint] Lee Jaemyung Administration, Stay Just as You Are Now

Not long ago, Chairman A of a listed company said, "President Lee Jaemyung seems to be running the administration more stably and competently than expected since taking office." He is not a supporter of President Lee. He has a strongly conservative inclination, and as a business leader, he has long been dissatisfied with the anti-business policies of the Democratic Party. However, he could not hide his expectations, saying, "If President Lee continues to listen to diverse voices in society and coordinate opinions as he is doing now, he could be evaluated more favorably than any previous president."

B, who worked as a so-called "accidental public official" under the Yoon Sukyeol administration, evaluated, "President Lee is off to a good start, just as he had prepared." When asked how this compares to the previous administration, he replied, "To be honest, he is doing much better," and added, "If things continue as they are, the Lee Jaemyung administration could even win over some of the centrist conservative support base." He also expressed concern that, in the meantime, the conservative party is struggling to find its direction.

Today marks the 16th day since President Lee took office. In that time, I have frequently encountered others expressing similar opinions. In all opinion polls released since his inauguration, there have been many positive evaluations of his administration. The most notable aspect is his flexible approach to restoring livelihoods and the economy.

On June 13, just nine days after his inauguration, President Lee met with the heads of the five largest conglomerates and leaders of economic organizations. This was much faster than former President Roh Moo-hyun (who did so after three months in office) and former President Moon Jae-in (after 49 days). At the meeting, while pointing out issues such as corporate unfairness, he also listened attentively to the voices of business leaders. President Lee especially emphasized, "The most important role of the government is to actively support and cooperate so that each company can contribute to economic growth and succeed in its own business." The general view in the business community is that President Lee's understanding of the economy and of businesses has deepened considerably compared to his time as an opposition leader.

President Lee's diplomatic moves are also markedly different from those of previous Democratic Party administrations. He first spoke by phone with U.S. President Donald Trump, followed by calls with Japanese Prime Minister Ishiba Shigeru and Chinese President Xi Jinping, among other major world leaders. At the Group of Seven (G7) summit held in Canada from June 15 to 17 (local time), he met with key leaders, including Prime Minister Ishiba, restoring diplomatic momentum. This has been evaluated as a clear focus on pragmatic diplomacy. If he attends the upcoming North Atlantic Treaty Organization (NATO) summit from June 24 to 26, it could also dispel concerns about a "pro-China diplomatic tilt."

Lastly, there is the restoration of politics. President Lee and the leaders of both ruling and opposition parties have agreed to have a luncheon meeting at the presidential residence on June 22. President Lee has shown his intention to listen to the voices of the opposition on all major national issues without setting a specific agenda. President Lee took the initiative in proposing the meeting with the floor leaders of both parties, and Song Eonseok, the floor leader of the opposition People Power Party, responded positively, opening the way for bipartisan cooperation.

The first step has been taken well. All that is needed now is to continue as things are. The remaining challenge is to maintain his original intentions: to keep listening to the voices of businesses, to maintain the framework of pragmatic diplomacy, and to pursue politics of coexistence rather than retaliation. Becoming accustomed to the taste of power leads to arrogance. Previous administrations have collapsed because of such arrogance. The real task for President Lee is to suppress that arrogance with his original resolve.