Seoul: South Korean opposition leader Lee Jae-myung, widely seen as the front-runner in a presidential by-election triggered by the removal of Yoon Suk Yeol last week, announced his presidential bid Thursday, vowing to heal a starkly divided nation through economic growth.
Lee, who narrowly lost the 2022 election to Yoon, led the liberal Democratic Party’s campaign to oust the former president over his December declaration of martial law.
Lee recently stepped down as the party’s chairman to focus on campaigning for the June 3 election. He is considered the clear front-runner in party’s primary. Kim Dong-yeon, the Democratic governor of Gyeonggi province and a longtime financial policymaker, also told reporters Wednesday that he intends to run for president.
Yoon’s downfall has left the conservative People Power Party in disarray, with roughly 10 politicians expected to seek the nomination, reflecting a split between Yoon loyalists, who still control the party’s leadership, and reformists calling for a fresh start.
“We have more than we did in the past, but wealth is too concentrated in certain areas,” Lee said. “With economic growth rates declining worldwide, it has become difficult to maintain and develop an economy solely on the strength of the private sector, Lee said in a a video message, adding that it was crucial to maintain alliance with the US.