Lee pledges pragmatic market-oriented governance

President Lee Jae-myung declared on the 4th that his administration will pursue a “pragmatic, market-oriented” approach to governance. He emphasized that his government would focus on supporting and encouraging the economy rather than controlling and regulating it. By highlighting “growth” and “economic recovery,” major themes from his presidential campaign, he signaled that reviving the economy would be his administration’s top priority.

Speaking before the National Assembly after taking the presidential oath of office, President Lee said in his inaugural address, “We will use the policies of Park Chung-hee or Kim Dae-jung if they are necessary and useful, without ideological distinction.” He added, “We will create new growth engines and open the door to a better society through fair growth that shares both opportunities and outcomes.” He also announced the immediate launch of an emergency economic response task force, expressing his commitment to confronting the current downturn head-on.

As his first presidential task, Lee proposed the drafting of a supplementary budget. “As early as this evening, I plan to convene all relevant officials and working-level staff to push ahead with administrative steps and procedures that can be taken immediately,” he said.

President Lee personally introduced his first round of appointments in a briefing at the presidential office. He named four-term Democratic Party lawmaker Kim Min-seok as prime minister nominee, who has long been regarded as one of his closest aides. He nominated former Unification Minister Lee Jong-seok as National Intelligence Service director, highlighting his potential to break through the current deadlock in inter-Korean relations.

For presidential chief of staff, Lee tapped Kang Hoon-sik, a three-term Democratic Party lawmaker known as a strategic, unifying figure with roots in the Chungcheong region. Kang, born in the 1970s, is the first presidential chief of staff from his generation. Lee appointed the Democratic Party’s first-term proportional representative Wi Sung-lac, former head of the foreign ministry’s Korean Peninsula Peace Negotiation Division, as national security advisor. Former Army General Hwang In-kun was named head of the Presidential Security Service. At the same time, a first-term proportional lawmaker, Kang Yu-jung, who served as spokesperson during the primary campaign, was appointed presidential spokesperson.

Lee said his appointments were based on loyalty to the people, professional expertise, competence, and an understanding of national governance philosophy.

His official term began at 6:21 a.m. on the 4th, when the National Election Commission finalized the results. According to the commission, Lee received 17,287,513 votes, surpassing former President Yoon Suk-yeol’s record of 16,394,815 votes in the 20th presidential election, marking the highest vote total in South Korean presidential history. The final vote share was 49.42 percent for Lee, 41.15 percent for People Power Party candidate Kim Moon-soo, and 8.34 percent for Reform Party candidate Lee Jun-seok.


윤다빈 기자 empty@donga.com