Park Hongkeun: "Speculation About Recruiting or Drafting Candidates Is Misguided; The Candidate Selection Process Matters" [Current Affairs Show]

"There Must Be More Sophisticated Communication Between the Presidential Office and the Party"
"The Kim Hyunji Issue Should Follow Principles; No Need for Her to Appear"
"Oh Sehoon's Seoul Administration Is Governance Without Citizens or Achievement

■ Broadcast: The Asia Business Daily's 'So Jongseop's Current Affairs Show' (Monday to Friday, 4 PM)

■ Host: Political Specialist So Jongseop ■ Director: PD Lee Miri

■ Guest: Democratic Party Assemblyman Park Hongkeun (October 17)

Assemblyman Park Hongkeun of the Democratic Party appeared on 'So Jongseop's Current Affairs Show' by The Asia Business Daily on October 17. Park, who served as Chief of Staff for Candidate Lee Jaemyung during the 2022 presidential election and as Floor Leader during Lee’s tenure as party leader, is a four-term assemblyman who has been elected consecutively (19th-22nd National Assembly) from Jungnang-eul, Seoul. After the inauguration of the Lee Jaemyung administration, he served as the Planning Division Chief of the National Planning Committee, shaping the policy framework and government reorganization for the new administration. He is considering running for Seoul mayor next year. The interview was conducted at The Asia Business Daily’s headquarters studio in Jung-gu, Seoul, and lasted for one hour and ten minutes.

*Click the video to watch the full interview.

So Jongseop: There is a sense that the Korea-U.S. tariff negotiations will soon be concluded.

Park Hongkeun: Considering the style of President Donald Trump and the unreasonable demands made by the United States, we need to watch until the very end. Ultimately, the real question is how we can possibly meet the U.S. demand for a $350 billion cash upfront investment. As of September, South Korea’s foreign exchange reserves stand at around $420 billion. The IMF has stated that, given the size of the Korean economy, an appropriate level of reserves would be between $500 billion and $520 billion. So even now, we are below that threshold, and yet the U.S. is asking for $350 billion in advance-this is simply an unreasonable demand.

90% of the $420 billion is in the form of long-term asset investments. Only 4.4%, or $18.5 billion, is in the form of deposits that can be withdrawn and used like cash. If we were to liquidate long-term investments, it could trigger a currency crisis and a downgrade in the national credit rating. Therefore, we simply cannot accept this. Current negotiations seem to be focusing on options like spreading out the investment over a long period, including investments from major corporations, or allowing for procurement through currency swaps centered on the Korean won. It appears the negotiations are in their final stages.

Regarding Real Estate: Practical, Sufficient, and Specific Supply Measures Needed

So Jongseop: On October 15, the government announced new real estate measures. There has been criticism that the policies are very strong, and although they are said to favor genuine buyers, some argue that actual buyers will face significant difficulties. What is your assessment?

Representative Park emphasized that the process of selecting a Democratic Party candidate for next year's Seoul mayoral election is very important. Photo by Heo Younghan

Park Hongkeun: It is true that the measures were much stronger than expected. There are various concerns from the perspective of the market, genuine buyers, and citizens in general.

However, I believe we must consider what would happen if we allowed housing prices to soar unchecked. Ultimately, it would make the dream of owning a home even more difficult for many people. If we do not stabilize the market now, ordinary citizens will find it nearly impossible to buy a home even after a lifetime of work. The government had no choice but to introduce drastic measures as a last resort. Still, there is anxiety about whether supply will actually be sufficient in the future, and it is true that new barriers have been created for those who were planning to buy a home right away.

The challenge is not only to properly separate speculative demand from genuine demand, but also to ensure that supply is both effective and sufficient. Therefore, it is necessary to present practical, sufficient, and more specific supply measures. I understand that the government and the party are planning to prepare these together.

So Jongseop: What is your view on tax policy? There is talk of strengthening property taxes. What do you think of the direction the government and the ruling party are taking?

Increase in Official Appraisal Ratio, Government May Actively Consider

Park Hongkeun: During the Moon Jaein administration, various tax proposals were made, but there needs to be a reflective assessment of why they did not function properly or failed to deliver results.I believe that using taxes to control housing prices requires a very cautious and sophisticated approach. For example, there has long been debate over how to handle the issue of people actually living in high-priced homes and the comprehensive real estate tax.

The government has said it will review tax issues, but there has been no internal agreement within the party yet. However, the official market value ratio is currently set very low. Under the Yoon Sukyeol administration, it was lowered from 80% to 60%. This is the basis for levying comprehensive real estate and property taxes, and there is a significant gap compared to market prices. In terms of how to bridge this gap, I think the government may actively consider this issue.

On July 18, during his tenure as the Planning Division Chief of the National Planning Committee, Representative Park held a briefing after a meeting with victims of jeonse fraud at the Changseong-dong Annex of the Government Seoul Office in Jongno-gu, Seoul. Photo by Yonhap News

So Jongseop: You served as Chief of Staff for Candidate Lee Jaemyung during the 2022 presidential election and as Floor Leader during his time as party leader.What kind of person is President Lee Jaemyung, from your close perspective?

Park Hongkeun: In 2022, I was the first three-term Democratic Party assemblyman from Seoul to publicly support Candidate Lee Jaemyung. I worked closely with him both during his candidacy and as party leader, and I found him to be truly outstanding in handling work and getting things done.

So Jongseop: Is he particularly skilled at practical work and problem-solving?

Park Hongkeun: Yes, he has an exceptional ability to quickly grasp the overall situation. He has an intuitive sense for what needs to be addressed first, and this is ingrained in his working style. At the same time, he is very deliberate when making important decisions. He listens to various opinions and arguments before reaching a final conclusion. I also highly value his rational and pragmatic judgment and approach, as he is not confined to any particular framework. His drive and resilience have enabled him to build a solid support base as mayor of Seongnam, governor, and now president. That is the kind of leadership he has demonstrated.

The President is Tireless and Highly Skilled at Work, Deliberates Carefully on Important Decisions

So Jongseop: Regarding President Lee Jaemyung’s leadership style, some describe it as “smart and diligent.” I hear he hardly sleeps at night?

Park Hongkeun: He tends to stay up late. Even at 1 or 2 a.m., he excels at gauging public opinion on Telegram and various online communities and social media. He listens to the collective views of the public far more than through TV or newspapers, and makes them his own. Perhaps because of his long experience as a lawyer, he is very skilled at reading documents and does so extremely quickly, always pinpointing the key issues. Even if reports are sent to him late at night via Telegram, he always responds with a brief reply or a heart emoji.

Representative Park acknowledged that there is a division of roles between the Presidential Office and the party but emphasized the need for close communication. Photo by Heo Younghan

So Jongseop: Before Chuseok, Woo Sangho, Senior Secretary for Political Affairs at the Presidential Office, mentioned differences in the speed and temperature of reforms. There is talk that the relationship between the Presidential Office and the Democratic Party is somewhat delicate. What is your view?

Park Hongkeun: Even married couples can have differences of opinion. Of course, not everyone in any organization-especially in running a country-can think the same way. I am confident that there are no fundamental differences between the President, his staff, and our party leadership. We are united on the goals and direction for leading South Korea. For example, there can be no disagreement about completely settling the issue of the 12·12 military coup, or about achieving a genuine recovery for people’s livelihoods and the economy. There is also consensus on the need to unite the nation and transcend party lines to address the country’s challenges.

However, there are differences in the division of roles. For instance, the President is naturally more focused on diplomacy, security, people’s livelihoods, the economy, and structural reforms. He has told me as much personally. I am the chairman of the Hong Beomdo General Memorial Project Association, and we recently watched a documentary film about the independence army together.

Afterward, he told me, “If about 70% of the public-not just 60%-support an issue, the Democratic Party should push it more strongly and quickly in the National Assembly. Otherwise, given the current economic difficulties, we need to focus more on achieving results for people’s livelihoods.” In this way, the President is inevitably focused on such matters.

But what is the party’s role? Because of the unprecedented anti-constitutional crisis, the party must take the lead in correcting this. The party leadership must ensure, based on our supporters, that such matters are thoroughly addressed. In addition, when it comes to necessary reforms in the prosecution or judiciary, the party must boldly take the initiative. That is how the division of roles is structured.

So Jongseop: But isn’t it necessary to adjust the pace of reforms?

There Must Be Sophisticated and Detailed Communication Regarding Reform Priorities and Pace

Park Hongkeun: There are two key points: setting priorities and adjusting the pace, and maintaining close communication between the Presidential Office and party leadership. I believe there should be a more sophisticated and detailed communication process regarding priorities and pace. For major issues that affect the political landscape, it would be better if the President’s staff and party leadership could coordinate in advance on how to handle them and on the overall process.

For this to happen, the Presidential Office needs to quickly and officially clarify its position on current issues. The party leadership should not leave this to individual assembly members, nor should it be overly swayed by public opinion or our support base. Instead, it should be managed in coordination with the Presidential Office.

On August 4th, Jeong Cheong-rae, the leader of the Democratic Party of Korea, met with Woo Sang-ho, the Senior Secretary for Political Affairs at the Presidential Office, in the party leader's office at the National Assembly. Photo by Kim Hyun-min

So Jongseop: Don’t the party leader, Prime Minister, and Chief Presidential Secretary meet once a week for communication?

Park Hongkeun: The Chief Presidential Secretary or Senior Secretary for Political Affairs, along with the party leader, Policy Committee Chair, or Floor Leader, maintain close communication on major issues. I believe that as long as they coordinate well with standing committee chairs, secretaries, and vocal assembly members, there will be no problems.

So Jongseop: Recently, there has been criticism that the pressure on the judiciary-so-called “attacks on Chief Justice Cho Heedae”-is too crude and excessive. What is your view?

The Judiciary Brought This Situation Upon Itself, But the Approach Needs Refinement

Park Hongkeun: The problems with the Supreme Court and the judiciary are serious. If, after the presidential election, the Chief Justice, Supreme Court justices, and judges like Ji Guyoun had sincerely apologized to the public, we would not be in this situation. The public is aware of the entire process. There are many doubts about whether the judiciary truly upheld the Constitution and the law during the 12·12 military coup.

Although there have been some statements, the Chief Justice and others have not been proactive in expressing their views. For example, when the Seoul Western District Court was occupied by rioters, what did the Chief Justice say? Then, in an unprecedented move, the Supreme Court quickly decided to remand and retry the public official election law case of Lee Jaemyung. To any observer, this appears to be intentional, as if they are above the law and can control everything, as if they intend to dominate the world. The judiciary, including Chief Justice Cho Heedae, brought this situation upon themselves.

In this context, the argument for a dedicated court for the 12·12 military coup is not just a Democratic Party demand; the public would not accept leaving the judiciary as it is. No matter how thoroughly the prosecution investigates, the courts have been rejecting arrest warrants for cabinet members clearly involved in the coup. Would merely adding one more judge be convincing in response to calls for a separate court?

However, if the approach is too hasty or rough, it may lose public support. Both the party and the Presidential Office need to consider how to pressure and persuade the judiciary to achieve real improvements while gaining majority public support. The methods need to be further refined.

So Jongseop: There is ongoing controversy regarding whether Kim Hyunji, Director of the First Presidential Secretariat, should appear at the National Assembly audit. What is your view?

The Issue of Director Kim Hyunji Should Follow Principle and Precedent-No Need to Appear

Park Hongkeun: We must first look at principles and precedent. The Chief Administrative Secretary is responsible for internal administration and has usually appeared at audits.If Director Kim Hyunji had remained in that position, it would have been appropriate for her to appear, according to precedent and principle. But why is the People Power Party fixated on Director Kim Hyunji now? It is purely for political calculation. Since there is no one like Kim Keonhee in the Lee Jaemyung administration, they are trying to target Kim Hyunji as a close aide to create a scandal. It is not based on precedent, and their political motives are obvious. Should we simply accept this? I believe we should adhere to principle and precedent. In fact, because the People Power Party has politicized this issue, even those who want to appear are being prevented from doing so. There is no need for her to appear at the audit.

Representative Park said, "Director Kim Hyunji does not need to appear at the audit." Photo by Heo Younghan

So Jongseop: I understand you are considering running for Seoul mayor in next year’s local elections.

Park Hongkeun: I began considering this after becoming a four-term assemblyman. Last year, I spoke to then-Representative Lee Jaemyung, National Assembly Speaker Woo Wonsik, and former Assemblyman Woo Sangho about my intentions. After the regular session of the National Assembly, I was going to start preparing in earnest, but then the 12·12 military coup crisis broke out, so I focused on responding to that. After the presidential election, I planned to begin in earnest, but then I was dispatched to the National Planning Committee for two months. My style is to give my all to any task I take on and produce results. I returned to the National Assembly in late August and am now seriously considering how to prepare for the Seoul mayoral election. Supporters of mine will soon launch the “Citizen Sovereignty Innovation Seoul” expert forum.

I am also preparing a book. Regardless of whether the mayor was from the Democratic Party or the People Power Party, I believe there needs to be a reflective and critical review, evaluation, and diagnosis of Seoul over the past 20 years. Only then can we draw a vision for the future. I am aiming to publish the book around mid-December, and internally considering officially announcing my candidacy around mid-November.

So Jongseop: How do you evaluate the Seoul city government under Mayor Oh Sehoon?

Oh Sehoon’s Administration: Governance Without Citizens, Governance Without Achievements

Park Hongkeun: Mayor Oh Sehoon has been responsible for Seoul’s administration longer than any Hanseong Panyun since the Joseon Dynasty. He now seems to be in a hurry to run for a fifth term. If you ask citizens, “What has Mayor Oh Sehoon done?” I wonder what comes to mind. Perhaps it is taking away school lunches from children and resigning as mayor, or recent controversial projects like the Han River bus-wasteful and showy initiatives. Then there are legal risks such as the Myeong Taegyun Gate. I believe his administration has been one without achievements. That is why I say, Oh Sehoon’s administration has been governance without citizens.

So Jongseop: Governance without citizens?

Park Hongkeun:Shouldn’t citizens be the true owners of city governance? There should be various systems and mechanisms that enable citizens to participate as actual stakeholders in running the city. But now, citizens are used as mere extras or window dressing. I think this needs to be completely changed.

In addition, Mayor Oh Sehoon’s administration has been characterized, first, by too many showy projects, and second, by wasteful spending of taxpayer money. As the incumbent, he enjoys many advantages and high name recognition, but if you ask about his support for another term, it will have dropped significantly. That means there is a great deal of fatigue. Furthermore, considering his lack of achievements and risks like the Myeong Taegyun Gate, citizens’ awareness of these problems will only increase.

Currently, there is no strong rival within the People Power Party, and as the incumbent, his name recognition is high, but I believe his support will continue to decline, not rise. Ultimately, the next election will be a referendum on Oh Sehoon’s ten years in office. Next year’s election will see growing sentiment that only by supporting the president and the ruling party can the country remain stable. As Seoul is the most symbolic city and space, I believe more citizens will think that we must elect a ruling party mayor to ensure harmony with the president and drive Seoul’s development. Therefore, I expect a ruling party mayor will be elected for Seoul next year.

Representative Park emphasized that the process of selecting a Democratic Party candidate for next year's Seoul mayoral election is very important. Photo by Heo Younghan

So Jongseop: There was a recent poll regarding the Seoul mayoral race. How do you evaluate public opinion trends? Also, what do you consider your greatest strength?

Park Hongkeun: Polls are meaningless at this point. What matters more is how we select the ruling party candidate.Polling only among high-profile figures is not a good strategy for the Democratic Party. This leads to talk of recruiting well-known figures like the Prime Minister, Chief Presidential Secretary, or outside business leaders. That approach undermines the competitiveness of current candidates and only boosts Mayor Oh Sehoon. It is a misguided strategy.

The process of selecting a candidate is important. We should consider holding individual hearings, or conducting qualification reviews. For example, we could hold debates by region in front of party members and citizens, which would generate more content. There is also the preferential voting system,or, if necessary, a tournament-style process to select the final candidate. By creating a dynamic and multidimensional selection process, we can generate excitement and produce a strong candidate who can win. Therefore, the selection strategy is extremely important.

Speculation About Candidate Recruitment Is Misguided; The Process of Selecting a Democratic Party Candidate Is Crucial

Seoul is losing its vitality and dynamism as a city. We must firmly establish its status as a global economic and cultural city. The next five to ten years are critical, so we must consider who has the right leadership for this period. We cannot reuse someone who has already failed to deliver.

We need to integrate AI into Seoul’s administrative system to dramatically improve the quality of citizen services. We should build a financial hub connecting Yeouido, Yongsan, and Gwanghwamun. K-Culture is now recognized as a powerful force,so we must firmly develop the tourism industry based on these cultural contents and properly elevate it. We need to run with this vision for Seoul.

Just as I have been recognized in the party for my policy expertise, I believe I have the vision and drive to deliver results. As chair of the party’s Committee for Livelihood Practice and the Euljiro Committee, I have represented the interests of the economically vulnerable, such as non-regular workers and small business owners. In this sense, I believe I can be evaluated by citizens for my empathy, sincerity, and achievements. First, I think the candidate should be someone who has been thoroughly vetted within the party, someone who can confidently lead the city without ethical issues or controversy. Second, we need someone who can manage city administration stably based on policy and experience. I believe I will be evaluated on competence, sincerity, vision, and stability.

So Jongseop: Thank you, Assemblyman Park.

Park Hongkeun: Thank you for having me.