South Korea's presidential campaigns kick off, focus on ailing economy

South Korea’s presidential candidates kicked off their campaigns on Monday, promising to heal a fractured nation, boost the economy, and navigate a trade dispute with the United States, ahead of the June 3 snap election triggered by the ousting of president Yoon Suk Yeol.

Following a political firestorm caused by Yoon’s controversial martial law order, which led to his removal from office, voters will now choose a new leader for Asia’s fourth-largest economy in just over a month.

The liberal Democratic Party’s Lee Jae-myung, a frontrunner in the race, launched his campaign in central Seoul, surrounded by thousands of blue-clad supporters. Energizing the crowd with campaign songs and chants of “Lee Jae-myung, president!”, he symbolically changed into sneakers onstage to show his commitment to hard work.

Lee, who narrowly lost the previous election to Yoon, has emerged as a resilient figure after surviving a knife attack and fending off a series of criminal charges, including bribery and involvement in a $1 billion property development scandal. His trials have been postponed until after the election.

Wearing a bulletproof vest due to ongoing threats, Lee pledged to unify the nation and tackle the economic impact of U.S. tariffs. His party’s platform centers on fostering artificial intelligence innovation and promoting South Korea’s influential K-pop culture. Lee also vowed to repair relations with North Korea and expand diplomatic ties with Europe.

Conservative challenger Kim Moon-soo, the official candidate of the People Power Party, launched his campaign with a visit to a Seoul wholesale market, sharing sausage soup with merchants. His focus is on reviving small businesses and job creation amid an economic slowdown.

After consolidating his campaign with that of a former prime minister, Kim gained the endorsement of the ousted Yoon. However, this move sparked division within the PPP, with some members pushing for Yoon’s expulsion from the party.

Kim’s policy agenda includes seeking a swift summit with U.S. president Donald Trump to renegotiate tariffs and reinforce the security alliance with Washington. He has also proposed exploring nuclear fuel reprocessing — a step that would move South Korea closer to nuclear armament.

As the campaign heats up, both candidates are trying to position themselves as agents of stability and progress in a nation still reeling from political turmoil and economic uncertainty.

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