[Inside Chodong] South Korea After Four Years and Nine Months

President Lee Marks 100 Days in Office
Focus on Restoring Administration and Achieving Diplomatic Balance
Approval Ratings Remain Positive, but Challenges Persist Both Domestically and Abroad

President Lee Jaemyung marks his 100th day in office under the slogan of a "People's Sovereignty Government." Over these 100 days, President Lee devoted most of his time to rebuilding the national system, which had lacked a control tower. Domestically, the urgent task was to restore the administrative system, which had been left in disarray following the 12·3 Martial Law Incident. Externally, he had to find a new equilibrium in trade and security amid the turbulent waves brought by the second administration of Donald Trump in the United States. President Lee encapsulated the urgency and anguish he felt during this process in his remark, "Only four years and nine months remain."

In terms of approval ratings, President Lee's first 100 days were generally positive. Although his ratings plummeted at one point due to the Liberation Day special pardon and the issue of tightening the major shareholder capital gains tax criteria, they rebounded after the first South Korea-U.S. summit concluded without major issues, even surpassing 60% in some polls. It would not be an exaggeration to say that more citizens are feeling a sense of efficacy from President Lee's actions and are placing their hopes on his achievements.

However, in retrospect, there are some regrettable aspects. The issue of the major shareholder capital gains tax threshold (currently 5 billion won) required a swift decision. The market fears and dislikes uncertainty above all else. Even if an argument lacks sufficient basis, market sentiment can lead to unpredictable outcomes. Since this controversy had persisted since the previous administration, the new government should have resolved it early, whether by maintaining or lowering the threshold. Ultimately, by missing the right timing, the administration ended up shouldering both political burdens and market instability. In the meantime, the opposition was given the opportunity to propose legislation raising the threshold to 10 billion won.

The ongoing rumors surrounding the influence of a particular secretary in charge of personnel and financial affairs at the presidential office also pose a burden for the administration. Interest in this secretary is so intense that rumors about the family and even new slang terms have emerged, yet any mention of this secretary is an unspoken taboo within the presidential office. Given that President Lee has boldly chosen to publicly disclose cabinet meetings and briefings at the presidential office to the public despite aides' opposition, this is a difficult contradiction to understand. Kang Hunsik, Chief of Staff at the presidential office, personally stepped forward, stating, "I am the head of the personnel committee," in an attempt to quell the situation, but the effect was minimal.

The achievements in diplomacy and trade negotiations also require a sober assessment. President Lee managed to withstand the initial waves caused by U.S. President Donald Trump, and the first South Korea-U.S. summit yielded the positive outcome of "not losing any more ground." However, the commitments-such as establishing a $350 billion investment fund for the United States, South Korea-U.S. cooperation in shipbuilding, and $100 billion in energy imports-have left the country with unprecedented challenges. These are burdens the Korean economy will have to bear painfully for a long time. An amount equivalent to a year's budget, which could have fueled growth and created jobs if invested domestically, is now flowing abroad under the pretext of alliance management, making it impossible to simply celebrate.

If President Lee's first 100 days were a test, the remaining four years and nine months are the real challenge. His resolve to "build a true Republic of Korea" and determination to "strengthen national power" must translate into concrete results. To revive an economy whose potential growth rate does not even reach 1%, bold investments and the golden window for structural reform must not be missed. To secure room to maneuver in the tightly constrained fields of trade and security, the country must act as a proactive pacemaker rather than relying solely on alliances. At times, it will be necessary to make choices that neither long-time confidants nor the majority of supporters welcome. The future of South Korea depends on the time President Lee has left.