Backed by Jim Rogers, Lee Jae-myung stresses peace on Korean Peninsula for economic rebound
Democratic Party presidential candidate Lee Jae-myung on Friday highlighted the need for South Korea to achieve peace on the Korean Peninsula to bring about an economic recovery.
In a Facebook post, Lee welcomed the endorsement of US investment guru Jim Rogers, chairman of Rogers Holdings, calling attention to Rogers' belief in the country's economic potential on the foundation of rapprochement between the two Koreas.
'If we have fair rules, transparent governance, a stable peace regime on the Korean Peninsula, and solid industrial and economic policies, our stock market has far more room to grow,' Lee wrote.
He echoed Rogers' view that 'peace is not just a political issue but an economic strategy,' and that Korea could become the trade, finance and innovation hub of Northeast Asia.
Rogers has long underscored the economic potential of the Korean Peninsula, particularly in the context of inter-Korean cooperation and regional stability. His support was publicly delivered on Thursday through a statement read at the National Assembly by representatives of businesses at the Kaesong Industrial Complex, a joint industrial complex once operated by the two Koreas that was shut down in 2016.
In the statement, Rogers touted Lee as the candidate who is capable of "ending the era of confrontation and opening a new chapter of peace, growth, and global leadership."
Rogers, who took part in a virtual dialogue on economics with Lee in January 2022, also argued that a peaceful Korea would not only boost investor confidence but also unlock millions of new jobs and potentially send the Kospi to historic highs.
'Let us invest in peace. Let us invest in the future. Let us invest in Korea. The choice is Lee Jae-myung,' he said.
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Korea Herald
12 hours ago
- Korea Herald
While Kim courts capital, Lee campaigns in industrial Southeast
With just two days to go to the presidential election, the three leading candidates on Sunday hurtled through rival strongholds and their own home turfs alike to lure undecided voters. Democratic Party of Korea candidate and front-runner Lee Jae-myung revisited the conservative strongholds of Daegu and the wider Gyeongsang region, a day after former President Park Geun-hye made an appearance to lend her support to the People Power Party's Kim Moon-soo. Despite a long history as the conservative stronghold, several recent opinion polls have showed a relatively narrow gap between support from voters in the area for Lee and People Power Party candidate Kim, compared to previous elections. Lee began in Andong, his hometown and the capital city of North Gyeongsang Province, vowing to be 'a president for everyone,' at a rally held in the morning. 'If you give me the opportunity, I won't become a 'half president' that divides the country by relying on one side and oppressing another, but rather a president for everyone that brings all people to one,' he said. Lee stopped by Daegu around noon, where he stressed that the upcoming election would be a "judgment for the forces of insurrection,' taking a jab at former President Yoon Suk Yeol's failed Dec. 3 martial law and the faction within the People Power Party that supported him. Lee stopped by Ulsan hours later. He was set to wrap up his itinerary for the day in Busan, according to campaign staff. The last stop of his campaign trail, scheduled for Monday, is expected to be Seoul's financial and political hub of Yeouido, sources close to the matter said. In a separate Facebook post Sunday, Lee expanded on earlier pledges to revitalize regional economies of major cities in the Gyeongsang region, including the port cities of Busan and Ulsan, vowing to establish a state-run investment bank focused on funding local development projects. 'I plan to pursue the establishment of the 'East-South Investment Bank' for the recovery of competitiveness of the Busan, Ulsan and South Gyeongsang region and lead their sustainable growth,' Lee said via Facebook. Lee has said he plans to swiftly transform Busan into a strategic gateway for emerging Arctic maritime trade. Kim, meanwhile, made several stops in the Greater Seoul area, including Gyeonggi Province, where he served as governor from 2006 to 2014. He appeared at a rally in Suwon, where he ramped up his criticism of Lee — who was also governor of the province from 2018-21 — and reiterated his apology for Yoon's martial law. 'Only your vote can make South Korea upright and create a just democracy,' Kim told the crowd gathered at his rally. 'If someone who is bound to go to prison becomes the president of this country, then this country will merely become a bundle of crimes,' he added. Lee faces five ongoing criminal trials on 12 charges, including subornation of perjury and election law violations. Regarding the Dec. 3 martial law bid, he said that Yoon's move affected the country 'with several hardships' and he and the People Power Party 'reflect on it deeply.' In the afternoon, Kim appeared near Coex in Gangnam-gu, where he said South Korea's possibility of being ruled by a "monstrous dictatorship" under Lee was a "bigger problem" than Yoon's martial law bid. "South Korea's democracy is at a crisis," he said. "Martial law is problematic, but the bigger problem is the concerns that (our country) could head towards a monstrous dictatorship." Kim's remarks come as the former labor minister has struggled to the narrow the gap with Lee in opinion polls. In the latest Realmeter survey released Wednesday, Lee was leading with 49.2 percent, with Kim trailing behind with 36.8 percent. Candidate Lee Jun-seok of the minor New Reform Party came at No.3 with 10.3 percent. The survey involved 1,003 respondents aged 18 or older. To support Kim, independent conservative candidate Hwang Kyo-ahn dropped out of the presidential race Sunday afternoon. "We must muster all of our remaining powers (to win against Lee), so I will help Lee and support what he does," Hwang said in an interview with a YouTube channel. Kim was to stop by parts of Gyeonggi Province, including Guri and Uijeongbu, before rallying in areas of northern Seoul. His last campaign stop is expected to be the City Hall in central Seoul on Monday, according to campaign staff. Meanwhile, Lee Jun-seok of the minor conservative New Reform Party campaigned at Dongtan Lake Park in Hwaseong, Gyeonggi Province. He pledged to cater to voters in their 30s and 40s — the average age of residents in Dongtan — by listening to their opinions.
Korea Herald
14 hours ago
- Korea Herald
More than a vote: What June 3 election means to South Koreans
After six months of political chaos, voters seek justice, change and return to democratic norms, but can the available options provide this? As South Korea heads to the polls for an earlier-than-expected presidential election on June 3, the nation stands at a political crossroads. The election comes just six months after former President Yoon Suk Yeol declared martial law on Dec. 3, 2024 — a move that shocked the nation and the world, paralyzed institutions, and triggered mass protests reminiscent of past democratic uprisings. Within days, the National Assembly passed an impeachment motion against Yoon, which was upheld by the Constitutional Court on April 4, removing him from office. In the aftermath, the country has found itself not only leaderless but forced to face its deep divisions — political, generational and ideological. What began as a constitutional crisis has become an existential moment for South Korean democracy. Now, as early voting began and candidates make their final appeals, South Koreans are being asked not just to choose a new leader but to deliver a verdict on everything that has unfolded over the past half year. For many, this election is not just about policies or party loyalty — it is about judgment, redemption and the kind of future they want to build. Experts say this divergence in voter sentiment stems from more than just ideology — it reflects deeper fractures in trust, governance, and generational experience. Professor Park Eun-hong of Sungkonghoe University argues that while some voters question whether anything ever changes through elections, this one is no ordinary vote. 'This is an exceptional election — triggered by the martial law declaration and culminating in a president's impeachment. From the outside, it's a moment that gauges the resilience of Korean democracy,' Park told The Korea Herald. But for that resilience to hold, efforts need to be made to heal the divide. Observers noted several challenges. Older voters who have seen past presidents promise change and fail to deliver it risk losing their faith in politics if the cycle continues. Meanwhile, losers must acknowledge and respect the result, while the winners should practice inclusive politics that recognize the concerns of those who did not vote for them, they said. With one candidate appearing to dominate the race, some voters feel little motivation to participate, believing the outcome is already set. Still, overseas voter turnout has hit a historic high — what commentator Choi Yo-han calls a 'judgment vote' sparked by anger and embarrassment over global criticism of South Korea's martial law episode. Across the political spectrum, parties are calling for unity. But after months of turmoil, including the December crisis and impeachment proceedings, restoring trust will take more than words — it will require real leadership, according to experts. To better understand the mood of the nation, The Korea Herald spoke with voters across generations — from the youngest participants in their late teens to citizens in their 80s who still remember the country's authoritarian past after the 1950-53 Korean War. Some approach the ballot with renewed purpose, seeing it as an opportunity to punish past wrongdoing and reclaim civic dignity. Others remain skeptical, wondering whether any election can deliver the deep political renewal the country so desperately needs. "Call for compassion, continuity" - Lim Hyung-jun, student, 18 Casting a ballot for the first time in his life, 18-year-old Lim Hyung-jun can't wait for election day to arrive. As the youngest among the eligible voters, Lim said this election was 'the start of making something wrong, right again.' Lim vividly recalls Dec. 3, 2024 — the day Yoon declared martial law — as a surreal moment that brought the weight of history crashing into his present. 'It was something I had only read about in textbooks,' he said. 'But now, more people are finally paying attention. I hope this crisis leads to more active political participation.' His political awakening, however, began much earlier. At age 10, he remembers clutching his parents' hands during the candlelight protests that led to the impeachment of former President Park Geun-hye. That early memory, he says, instilled in him a belief in people power. What he seeks most from this election is persistence. 'Five years sounds long, but it's actually a short time to realize policy pledges,' he said. He pointed out how frequently presidential ideologies shift. 'Presidents have switched back and forth between liberal and conservative blocs,' he said, adding that he hopes the next administration fosters continuity so that meaningful policies are not abandoned with a change in leadership. Beyond ideology, Lim wants a president who listens. He finds inspiration in former President Roh Moo-hyun, describing him as 'someone who felt like a neighbor, a leader who truly listened.' Lim hopes the next president — conservative or progressive — upholds that spirit. Above all, he hopes voters will think beyond themselves. 'I hope people make good, selfless choices,' he said. 'We live in a society that's grown colder with individualism. Especially for students, financial burdens weigh heavily — and we need policies that reflect collective care, not just privilege.' 'We need real dialogue' - Lee June-seong, college student, 25 25-year-old Hanyang University student Lee June-seong, looked forward to reading up on the candidates' pledges on long-standing issues concerning young Koreans — such as unemployment rates, housing problems and living expense support funds. Although the candidates touched on the issues, Lee was disappointed to find that they were only addressed briefly through the candidates' pledges without much detail. "Most of the pledges mentioned are aligned with the issues I'm concerned about, but there was little detail on how they would actually be implemented. That was a little disappointing," Lee said. What's worse, Lee adds, is that televised debates have devolved into smear campaigns. 'Looking at the presidential debates that have been held previously, candidates seem more interested in attacking each other rather than explaining their vision for Korea, which only fuels the Koreans' level of exhaustion toward politics.' Whoever the next president may be, Lee added that he wishes for a permanent communication channel to be established between young Koreans and the president, similar to the online petition system in the Cheong Wa Dae website established under the Moon Jae-in administration from 2017 to 2022. 'I wish a communication channel or a regular program could be provided for young Koreans to have a chance to talk with the future president,' Lee mentioned. Lee believes that in order for people to pay continuous attention to politics, policies and government-led projects that foster communication between the people and the president are the key. 'A vote to save Korea' - Kim, office worker, 30 For Kim, a 30-year-old office worker who declined to give her full name, this year's presidential election is the most significant she's ever faced. 'I believe this vote is key to saving Korea,' she said. Having voted in every election since becoming eligible, Kim says the stakes feel higher than ever following the political and economic instability triggered by the Dec. 3 martial law declaration. 'We've already seen two presidents impeached in less than 10 years. While some people may say that it's just a mere happening, I think it's more than that. Korea has shown that it needs a lot of change and reform in the political sphere, and I think every vote from this election can be part of that change.' Going forward, Kim also added that she hopes the next president will work to address all aspects of inequality that currently exists in Korean society, pointing specifically toward gender inequality issues in labor. 'I hope proper policies can be put into place in the future to resolve issues such as employment stability for women returning to their jobs after taking pregnancy leave as well as gender wage gaps — since Korea struggles with that severely,' Kim noted. Recently, the Korean Confederation of Trade Unions' Labor Institute revealed in January that South Korea's gender wage gap stands as the largest among OECD nations at 31.2 percent. When asked about the kind of president she hopes will take on the role, Kim added that she wants a president who will 'truly listen to the people's needs,' while making sure 'what has to be done, gets done.' 'Still skeptical' - Lee, career counselor, 44 In Daegu, Lee, a 44-year-old career counselor, doesn't expect much from the next president — no matter who wins. There won't be a dramatic change for the country, Lee believes. 'Some people seem to have high hopes for the upcoming presidential election because they suffered from different events since the martial law declaration in December. But I am not sure whether the next president can bring a bright change to the country,' she said. 'The former presidents, including Lee Myung-bak, Park Geun-hye, Moon Jae-in, and Yoon Suk Yeol, were indicted on different charges made in the past. And we now have a presidential candidate, who is attending five different criminal trials," Lee noted. "I heard another candidate's name from a bad political scandal. A different candidate stirred up a controversy by claiming that the late national independence hero Kim Gu could be Chinese,' Lee added, questioning whether South Korea truly has an appropriate presidential candidate. Lee shared that she hoped the presidents to bring a positive impact to the country in the past by effectively handling important social matters like real estate problems and greater job opportunities. "When former president Park Geun-hye promised zero tolerance for corruption and misconduct and vowed to actively assign special prosecutors to investigate the crimes, I hoped for a fair and just society,' said Lee. But after seeing Park becoming the third president to face criminal trial on bribery and corruption charges, Lee stopped herself from having high expectations. 'I heard that our economy continues to struggle and more small business owners are closing down their businesses. The next president really needs to focus on South Korea's political and economic recovery,' Lee insisted, reluctantly sharing her hopes for one last time. 'I won't make the same mistake' — Ha, caregiver, 63 A caregiver surnamed Ha shared that she had given a lot of thought to the presidential election in order to vote more carefully than ever before. 'I agree with some people saying that this election will determine the future of our country. It is South Korea's second presidential election after removing the existing president. This actually is more than enough reason for me to take the upcoming election very seriously,' said Ha. Though the 64-year-old Changwon resident did not know much about politics or pay close attention to the elections in the past, Ha tried to spend time thinking and cast her vote for the right candidate. 'I personally felt that my lack of interest in politics might have contributed to the rise of someone like Yoon Suk Yeol, who made an absurd decision to declare martial law, so I am trying to avoid repeating past mistakes,' she added. Ha was surprised to know that there were many channels for the voters to learn about the presidential candidates. 'I'm someone who is more familiar with TV debates. But there are so many YouTube channels that do not only feature the individual presidential candidates but also provide a general overview and weekly updates about the candidates' election campaigns. Now, the voters are responsible to determine facts from fake news and vote for the trustworthy candidate,' Ha told The Korea Herald. 'Boosting the country's economy will be something that I want most from the next president. But I really want the president to be the true leader who can embrace differences and solve the country's intense political division,' she added. 'I also hope the next president does not have any 'family risk' like Yoon and Kim Keon Hee. 'Exhausted by politics' - Song Dae-gun, retired, 80s Though Song Dae-gun, who is in his 80s, plans to fulfill his civic duty and cast his vote for the June 3 election, he shared pessimistic views toward the South Korean presidential election. 'I feel that the multiple presidential elections, here, discouraged many people. I think this election will be no different from the previous ones,' he said. Song, who has taken a lot of interest in political, social and economic issues ever since he participated in Busan's April 19 Revolution in 1960, feels that those in politics don't care about the people. 'It has been a long time since I saw a presidential candidate who genuinely tried to convince others that he (she) wanted to serve the country. But all I hear are criticisms and hate speech targeting other candidates. I am trying to keep some distance, because I felt that paying attention to such stories only exhausts me,' the retiree of a conglomerate. While refusing to share any specific policy or quality that he expects from the presidential candidate, Song hoped the next president to truly care about the people and the country. A test of Korea's democratic resilience For some, the turmoil of the past six months has awakened a sense of urgency and duty. For others, the repeated cycles of scandal, impeachment, and political disillusionment have deepened skepticism. Experts say the divide reflects deeper fractures in trust, governance, and generational experience. Professor Park Eun-hong of Sungkonghoe University pointed out that voters didn't all see this as a battle between the instigators of martial law and the forces of democracy. 'Martial law represents the freezing of democratic norms by military force. And yet, within months, we saw a national pushback — from civil society, lawmakers across party lines, and ultimately, a unanimous Constitutional Court decision. It was a collective act of democratic recovery.' Park added that the election is not just about choosing the next leader but about reaffirming the public's belief in electoral democracy. He expects voter turnout to be strong, driven by the urgency of reclaiming civic control after such an extraordinary rupture in constitutional order. 'This is a vote to restore what we almost lost,' he said. Yet not all voters are inspired. Professor Lee Jun-han of Incheon University notes that older generations, in particular, carry the weight of political disappointment. 'They've lived through repeated transitions that promised change but didn't deliver. That breeds disillusionment,' he said. The lack of trustworthy candidates only deepens that fatigue, especially in a climate of economic instability and weak global outlooks. With a certain candidate already seemingly leading the election, the expected result is another factor for some people's low enthusiasm. Political commentator Choi Yo-han pointed to a surge in overseas voter turnout — the highest in history — as evidence of what he called 'a judgment vote.' 'Many overseas Koreans were stunned by international reactions to martial law. This anger and embarrassment are driving people to vote.' Ultimately, South Koreans face more than just the choice of a president. As Park Eun-hong puts it, 'This election is as important as the martial law itself — it lays bare the fragility of our democratic institutions but also shows our ability to recover.' In this extraordinary election, both conservative and progressive parties — and even those that claim to transcend the traditional divide — have all emphasized the need for national unity. That shared refrain underscores a broader task: Regardless of ideology, South Korea must find a way back to political normalcy, and that requires genuine leadership committed to bridging divides. Since the December crisis and through the impeachment proceedings, political conflict has remained intense. But for those hoping the election will bring closure and peace, Park warns, that democratic principles also require acceptance. 'In a healthy democracy, fierce debate must be followed by recognition of the result. If the election is fair, even the losing side must acknowledge the outcome,' he said. Looking ahead, Park stresses that whoever wins must embrace even those who did not support them. 'The next president must practice politics of inclusion — a kind of sunshine politics that brings in dissenters and skeptics alike. Only then can South Korea begin to heal, rebuild trust, and move forward as one nation,' he said. Shin Yul, a professor at Myongji University, also added that what is important is the continuity in governance. 'This election will decide whether Korean politics takes a step toward maturity — or chaos. What must never happen is another administration that tears down all of what came before. We need persistence in politics, especially in foreign policy.' With growing internal polarization, mounting economic pressure, and uncertain geopolitical tensions, the decision now lies with the people. It is in the hands of voters to choose a leader capable of uniting the nation, healing its divides, and anchoring South Korea in the face of volatility. 'This is a chance to demonstrate that democracy, even when shaken, can endure,' Park said. 'That resilience begins with the act of voting.' jychoi@ sj_lee@
Korea Herald
15 hours ago
- Korea Herald
Presidential candidates make final push in Daegu, Seoul, Dongtan
With just two days to go to the presidential election, the three leading candidates on Sunday hurtled through rival strongholds and their own home turfs alike to lure undecided voters. Democratic Party of Korea candidate and front-runner Lee Jae-myung revisited the conservative strongholds of Daegu and the wider Gyeongsang region, a day after former President Park Geun-hye made an appearance to lend her support to the People Power Party's Kim Moon-soo. Despite a long history as the conservative stronghold, several recent opinion polls have showed a relatively narrow gap between support from voters in the area for Lee and People Power Party candidate Kim, compared to previous elections. Lee began in Andong, his hometown and the capital city of North Gyeongsang Province, vowing to be 'a president for everyone,' at a rally held in the morning. 'If you give me the opportunity, I won't become a 'half president' that divides the country by relying on one side and oppressing another, but rather a president for everyone that brings all people to one,' he said. Lee stopped by Daegu around noon, where he stressed that the upcoming election would be a "judgment for the forces of insurrection,' taking a jab at former President Yoon Suk Yeol's failed Dec. 3 martial law and the faction within the People Power Party that supported him. Lee was to later visit Ulsan and wrap up his itinerary for the day in Busan, according to campaign staff. The last stop of his campaign trail, scheduled for Monday, is expected to be Seoul's financial and political hub of Yeouido, sources close to the matter said. In a separate Facebook post on Sunday, Lee expanded on earlier pledges to revitalize regional economies of major cities in the Gyeongsang region, including the port cities of Busan and Ulsan, vowing to establish a state-run investment bank focused on funding local development projects. 'I plan to pursue the establishment of the 'East-South Investment Bank' for the recovery of competitiveness of the Busan, Ulsan and South Gyeongsang region and lead their sustainable growth,' Lee said via Facebook. Lee has said he plans to swiftly transform Busan into a strategic gateway for emerging Arctic maritime trade. Kim, meanwhile, made several stops in the Greater Seoul area, including Gyeonggi Province, where he served as governor from 2006 to 2014. He appeared at a rally in Suwon, where he ramped up his criticism of Lee — who was also governor of the province from 2018-21 — and reiterated his apology for Yoon's martial law. 'Only your vote can make South Korea upright and create a just democracy,' Kim told the crowd gathered at his rally. 'If someone who is bound to go to prison becomes the president of this country, then this country will merely become a bundle of crimes,' he added. Lee faces five ongoing criminal trials on 12 charges, including subornation of perjury and election law violations. Regarding the Dec. 3 martial law bid, he said that Yoon's move affected the country 'with several hardships' and he and the People Power Party 'reflect on it deeply.' In the afternoon, Kim was to stop by other parts of Gyeonggi Province, including Guri and Uijeongbu, before rallying in areas of northern Seoul. His last campaign stop is expected to be the City Hall in central Seoul on Monday, according to campaign staff. Meanwhile, Lee Jun-seok of the minor conservative New Reform Party campaigned at Dongtan Lake Park in Hwaseong, Gyeonggi Province. He was scheduled to hold a rally at Seoul Station in the evening.
