
Lee Jae-myung strengthens poll lead after acquittal
Rep. Lee Jae-myung, leader of the main opposition Democratic Party of Korea, further solidified his lead in a presidential preference poll, following his acquittal last week of election law violations.
Lee had been accused of making false statements during the 2022 presidential election campaign regarding allegations raised during his time as mayor of Seongnam, Gyeonggi Province.
Specifically, he claimed not to have known the late Kim Moon-ki, who had been a director at the city's development corporation. Although Lee was convicted in the first trial, an appellate court overturned the ruling on Wednesday.
According to a poll conducted by Realmeter at the request of Energy Economy News, Lee recorded 49.5 percent in terms of suitability as the next president — a 2.6 percentage-point increase from the previous survey conducted from March 12 to 14. The latest poll was conducted from Wednesday to Friday last week among 1,510 adults nationwide, with a margin of error of plus or minus 2.5 percentage points at a 95 percent confidence level.
Trailing Lee was Labor Minister Kim Moon-soo, who has emerged as the ruling People Power Party's strongest contender after refusing to apologize to the National Assembly for President Yoon Suk Yeol's controversial martial law declaration on Dec. 3 last year. Kim received 16.3 percent support, down 1.8 percentage points from the previous survey.
Other People Power Party contenders included Daegu Mayor Hong Joon-pyo at 7.1 percent (up 0.6 percentage point), former Justice Minister Han Dong-hoon at 6.7 percent (up 0.4 point) and Seoul Mayor Oh Se-hoon at 4.8 percent (down 1.4 point).
Among other Democratic Party figures, Gyeonggi Province Gov. Kim Dong-yeon — often viewed as a key figure in the party's anti-Lee faction — garnered 1.8 percent support. Former Prime Ministers Lee Nak-yon and Kim Boo-kyum followed with 1.6 percent and 1.4 percent, respectively, while former South Gyeongsang Province Gov. Kim Kyung-soo received 0.8 percent.
By political bloc, a divide in support was evident.
Among Democratic Party supporters, Lee Jae-myung was the overwhelming favorite, backed by 90.8 percent. Within the People Power Party base, Kim Moon-soo led with 39.2 percent, followed by Hong Joon-pyo (17.7 percent), Han Dong-hoon (13.6 percent) and Oh Se-hoon (11.4 percent).

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Korea Herald
18 minutes ago
- Korea Herald
7 out of 10 public firm chiefs have over 1 year left in terms under new government
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![[Editorial] Build confidence](/_next/image?url=https%3A%2F%2Fall-logos-bucket.s3.amazonaws.com%2Fkoreaherald.com.png&w=48&q=75)
Korea Herald
5 hours ago
- Korea Herald
[Editorial] Build confidence
Lee should use G7 summit to cement US alliance, free world's trust in Korea President Lee Jae-myung will attend the summit of the Group of Seven advanced countries in Alberta, Canada, from June 15-17. It will mark Lee's debut on the stage of summit diplomacy 11 days after he took office Wednesday. South Korea is not a G7 member state but was invited to participate as an observer. The summit is an opportunity for Lee to start building confidence with leaders of the seven major countries -- Canada, France, Germany, Italy, Japan, the UK and the US. Particularly, his first face-to-face meeting with US President Donald Trump will be significant. The presidential office is said to be pushing to hold bilateral talks with Trump on the sidelines of the summit. As Japanese Prime Minister Shigeru Ishiba is scheduled to attend the summit, a trilateral meeting among leaders of South Korea, the US and Japan could also be held. Lee had his first phone call with Trump Friday night, three days after his presidential inauguration. Trump congratulated Lee on his election victory, according to the presidential office. But considering that Lee's predecessors first spoke on the phone with US presidents usually on the day they won their elections or the day after, the Lee-Trump phone call came exceptionally late. Shortly after the presidential election, the White House said the US remains concerned about and opposed to Chinese interference and influence in democracies around the world. It is uncertain if the US is suspicious of Lee's past remarks about or attitude toward China. Last year, he said something to the effect that the Taiwan Strait issues are none of South Korea's business. The US alliance, together with three-way cooperation among Seoul, Washington and Tokyo, is the bedrock of South Korea's national security. Lee should reaffirm and further strengthen the alliance. That's also a way to gain the confidence of G7 leaders. Cooperation with the US across almost all areas, including diplomacy, security and economy, is indispensable for South Korea. If trust is weak between the South Korean and US leaders, it will become difficult to find breakthroughs on key pending issues such as defense cost-sharing and trade negotiations. High-level communications are more urgent than ever to prevent mutual misunderstandings and to keep Korea's security environment stable. Smooth communication stems from unshakable trust among leaders. These days, Washington emphasizes strategic flexibility for US Forces Korea. This suggests the possibility of extending their role beyond the defense of South Korea. It would not be an exaggeration to say that the US has focused all its diplomatic, military and economic strategies on checking China. Seoul used to walk a tightrope between Washington and Beijing in seeking to maximize its national interests, but the Trump administration is not likely to condone such behavior anymore. In addition to a possible one-on-one meeting between Lee and Trump on the sidelines of the G7 summit, the presidential office in Seoul is reportedly pushing for Lee to visit Washington. The sooner he visits Washington, the better, because there have not been summit communications for quite a long time. South Korea was invited to the G7 summit thanks to the country's elevated international stature. This means that it should live up to the free world's expectations. Lee should assure them that South Korea is on the same side as their countries. In the meantime, the country has been invited to the NATO summit in The Hague, the Netherlands, on June 24 and 25. The presidential office said that Lee has not yet decided whether to attend it. NATO is strengthening dialogue and cooperation with its four Asia Pacific partners: South Korea, Japan, Australia and New Zealand. Some of NATO member states are emerging markets for South Korea's defense and nuclear power industries. Maintaining friendly relations with them could be a shortcut to realizing the pragmatism that the new administration claims to advocate. Lee should positively consider attending the summit.


Korea Herald
13 hours ago
- Korea Herald
Korean battery-makers push President Lee for direct subsidies
Korean firms seek bolder funding as Chinese rivals leverage robust government backing South Korean battery manufacturers are urging President Lee Jae-myung to act as they face slowing electric vehicle demand and intensifying competition from Chinese rivals increasingly dominating global markets. On May 31, three days before the presidential election, Lee wrote in a Facebook post, 'I will recharge the South Korean economy with K-batteries,' underscoring his belief that the battery industry is key to driving Korea's next economic leap. Lee's pledges included strengthening research and development to secure cutting-edge technologies such as all-solid-state batteries; introducing domestic production tax incentives; creating a "battery triangle belt" connecting the Chungcheong, Yeongnam, and Honam regions; increasing battery demand through energy storage systems; and nurturing the battery recycling industry. Calls for IRA-style subsidies While industry insiders are optimistic about the domestic tax incentives, they anticipate a more direct form of financial support from the government. Lee's tax benefit pledge offers tax breaks for companies producing and selling battery products in Korea, similar to the US Advanced Manufacturing Production Credit under the Inflation Reduction Act. However, AMPC also includes options like 'cash refunds' and 'third-party transfers' in addition to tax benefits. 'If we could receive cash returns, we'd have more flexibility to expand investments in global markets — particularly in the US, where rising tariffs on automobiles and parts are already dragging down the EV market,' said an industry source on condition of anonymity. The source emphasized that additional support measures are needed, pointing out that unlike China, which offers subsidies from direct funding to state-led R&D programs, the Korean government has only granted corporate tax credits. Under the Act on Restriction on Special Cases Concerning Taxation, the battery industry is designated a national strategic technology, making it eligible for approximately 15 percent and 30 percent tax credits on facility investments and R&D, respectively. However, these credits apply only to companies that are generating taxable profits. In the first quarter, Korea's top three battery makers — LG Energy Solution, Samsung SDI, and SK On — all reported operating losses, even when factoring in benefits from AMPC. As a result, they are likely ineligible for domestic tax breaks, despite having collectively borrowed 49.6 trillion won ($36.5 billion) for large-scale investments both at home and abroad. Chinese surge Experts suggest that even with the battery sector's strategic importance, direct subsidies from the Korean government remain unlikely. 'Korea has traditionally been wary of direct funding due to the associated risks and concerns over misusing taxpayer money,' said Kim De-jong, a business professor at Sejong University. 'In contrast, while China provides massive subsidies, it often gains substantial control over the company's management and operations.' Kim added that more feasible alternatives to direct subsidies could include offering discounted rates on electricity and water for domestic production facilities. Meanwhile, Chinese battery giants CATL and BYD have strengthened their grip on the global EV market. According to SNE Research, CATL and BYD held market shares of 38.1 percent and 17.3 percent, respectively, as of the latest period, up from the previous year. LG Energy Solution ranked third but saw its share fall from 12.3 percent to 10.2 percent. SK On and Samsung SDI also experienced declines, with market shares dropping to 4.3 percent and 3.3 percent, respectively.