Policy Watch: Kim Moon-soo vows Mars Mission by 2045
Kim Moon-soo, presidential candidate of the conservative People Power Party, pledged to designate South Gyeongsang Province as a special zone for satellite development and exploration, outlining an ambitious goal of launching a Mars mission by 2045.
During a visit to Jinju, South Gyeongsang Province, Kim called for expanded support for the country's aerospace sector, pledging subsidies for aerospace-related R&D programs and local universities.
As part of his broader space development pledge, Kim said his administration would conduct three additional space rocket launches and develop launch vehicle engines by 2027, as well as complete a lunar landing by 2032.
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![[Editorial] A crucial vote amid crisis](/_next/image?url=https%3A%2F%2Fall-logos-bucket.s3.amazonaws.com%2Fkoreaherald.com.png&w=48&q=75){kind=small}
Korea Herald
2 hours ago
- Korea Herald
[Editorial] A crucial vote amid crisis
South Koreans vote to elect new leader following Yoon's ouster over martial law South Koreans went to the polls on Tuesday in what may come to be seen as one of the most pivotal elections in the nation's modern democratic history. The June 3 vote was called after the dramatic downfall of former President Yoon Suk Yeol, who was impeached and removed from office earlier this spring for attempting to invoke martial law in December 2024. Against a backdrop of economic malaise, diplomatic strain and a public weary of political dysfunction, the election became a test not only of leadership but of institutional resilience. Voters appeared engaged despite a dispiriting campaign. Turnout in advanced voting reached 34.74 percent — the second highest since the introduction of early voting in 2014 — suggesting a public alert to the stakes. Yet the process itself was marred by logistical lapses. The National Election Commission came under fire for mismanagement, with critics warning that such failures could undermine procedural legitimacy at a moment when public trust is already fraying. The frontrunner heading into the Election Day was Lee Jae-myung of the liberal Democratic Party of Korea, a sharp-elbowed populist who has, in recent months, sought to soften his image and reposition himself as a pragmatist. A former governor and one-time presidential contender who narrowly lost to Yoon in 2022, Lee returned to the national stage promising diplomatic realism and a business-friendly policy approach. His principal rival, Kim Moon-soo of the conservative People Power Party, is a former labor activist turned hard-right loyalist who remained closely aligned with the disgraced Yoon. As of press time, the final result had yet to be declared. But barring a late upset, Lee's sustained advantage in polls suggested he was on track to win. If there was a decisive loser in this campaign, it was the quality of public discourse. Policy debate was scarce. Personal invective, theatrical gestures and hastily assembled populist pledges dominated the three televised debates. Substance took a back seat to spectacle. Both major candidates offered sweeping economic proposals, including trillion-won supplementary budgets and emergency task forces to stimulate growth. The divergence lay more in emphasis than in content: Lee cast himself as a reformer intent on resetting the terms between capital and labor; Kim struck a more orthodox note, emphasizing security and traditional conservative themes. The Democratic Party's legislative tactics added further volatility. In early May, the party pushed through amendments to the Criminal Procedure Act and the Public Official Election Act — changes that could delay criminal trials for sitting presidents and redefine legal boundaries for campaign statements. Critics called the move an effort to shield Lee from ongoing investigations. The perception that institutional rules were being bent to serve political ends hung heavily over the race. Whoever assumes office will inherit a formidable to-do list. The economy is sputtering under the weight of falling exports, sluggish domestic spending and rising fiscal burdens. US President Donald Trump has imposed heavy tariffs on Korean goods and raised doubts about the durability of the security alliance. North Korea's weapons program continues apace, while maritime tensions with China in the West Sea remain unresolved. Domestically, political polarization runs deep, exacerbated by a campaign that stoked division rather than dialogue. This election was never just about choosing a new head of state. It was about reaffirming democratic norms in the wake of a constitutional crisis. The damage wrought by Yoon's overreach cannot be allowed to define the country's political future. The incoming president must not only claim a mandate but embody it by restoring public trust, re-engaging internationally and showing restraint in the exercise of power. Losing candidates, too, bear a responsibility: to respect the outcome and resist the temptation to turn disappointment into obstruction. Democracy is sustained not merely by ballots but by norms, responsibility and restraint. South Korea has faced darker chapters and emerged stronger. Let this be such a moment: a turn from rupture to repair, from disarray to accountability. The people have spoken. Now the burden of democracy shifts to those they have chosen to lead.
Korea Herald
6 hours ago
- Korea Herald
How Lee Jae-myung won
Lee Jae-myung's presidential victory did not defy any expections, even those of conservatives. Following is a breakdown of factors that contributed to Lee's sweeping victory. Yoon Suk Yeol The number one factor that contributed to Lee's victory is no doubt former President Yoon Suk Yeol, and his attempt to impose an abrupt martial law on Dec. 3, 2024. Yoon's martial law debacle got him impeached, and ultimately led to the election. Had it not been for Yoon, Lee most likely would have had to stand several criminal trials as scheduled. Polls have consistently found that the majority of South Koreans disapprove of Yoon's martial law attempt and back his impeachment. Ending Yoon's "insurrection" was Lee's campaign theme. Lee characterized his People Power Party rival Kim Moon-soo, who was Yoon's labor minister, as an "insurrection sympathizer." Solid grip on party Since his defeat to Yoon in 2022, Lee has been tightening his grip on the Democratic Party. During the 2024 general election, many figures less closely aligned with Lee were sidelined during the nomination process. Only those who "passed the loyalty test" for Lee was handed the nomination by the party leadership, as one Democratic Party lawmaker recounted. His hold on the Democratic Party was on vivid display at the party convention last year when lawmakers running to be on the leadership campaigned on how close they are to Lee. Unlike the Democratic Party, which had been rallying around Lee for the past three years, the People Power Party scrambled to come up with a candidate. The transition to a presidential campaign was smooth for the Democratic Party, which had already been operating under Lee's leadership. When Kim won the People Power Party's prolonged primary, Lee had already been campaigning around the country for two weeks. Kim had just three weeks since being nominated to pull together a campaign and hit the road.
Korea Herald
13 hours ago
- Korea Herald
OECD revises down S. Korea's 2025 growth outlook to 1% from 1.5%
The Organization for Economic Cooperation and Development has downgraded its forecast for South Korea's economic growth in 2025 by 0.5 percentage point from its previous estimate to 1 percent, citing mounting uncertainties at home and abroad, the finance ministry said Tuesday. The downward revision marks the second of its kind in less than six months as the organization had reduced its growth forecast for Asia's fourth-largest economy to 1.5 percent in March from the 2.1 percent estimate presented late last year. For 2026, the OECD maintained its forecast of 2.2 percent growth. The downward revision for South Korea marked the second-largest cut among major economies after the United States, whose growth outlook for 2025 was slashed from 2.2 percent to 1.6 percent. Japan's projection was lowered by 0.4 percentage point to 0.7 percent. The OECD's updated forecast is broadly aligned with recent projections from the South Korean government and other global institutions. Last month, the Bank of Korea cut its 2025 growth outlook to 0.8 percent from 1.5 percent, while the International Monetary Fund halved its growth projection for the South Korean economy to 1 percent in April. The OECD said South Korea's economy has been weighed down by the fallout from the short-lived imposition of martial law in December, which negatively impacted gross domestic product in the first quarter. External factors, including uncertainty surrounding US trade and tariff policies, as well as global trade tensions, are also expected to affect its exports and investment. While fiscal stimulus is expected to provide short-term relief, the OECD warned that the government should establish a more sustainable fiscal framework to restore financial health over the longer term. Earlier this month, the National Assembly passed a 13.8 trillion-won ($10 billion) supplementary budget. Further fiscal expansion is anticipated, as leading presidential candidates -- Lee Jae-myung of the Democratic Party and Kim Moon-soo of the People Power Party -- have both pledged expansionary fiscal policies. (Yonhap)
