Lee, Party Leaders Agree to Economic Council Formation

President Lee Jae-myung on Sept. 8 met with Democratic Party Leader Jung Chung-rae and People Power Party Leader Jang Dong-hyuk, agreeing to establish a joint Council for Economic Livelihood. The council will pursue initiatives such as abolishing breach of trust charges.

At the presidential office that day, Lee first held a private meeting with Jung, followed by a luncheon with both party leaders, and later a one-on-one meeting with Jang. The luncheon lasted 80 minutes, while the separate meetings with each leader lasted 30 minutes each.

Democratic Party Chief Spokesman Park Soo-hyun and People Power Party Chief Spokesman Park Sung-hoon said in a briefing after the luncheon that the ruling and opposition party leaders agreed to form a Council for Economic Livelihood. They explained that the agreement was based on Jang’s proposal. The new body will include the presidential senior secretary for political affairs and either the floor leaders or policy chiefs of both parties. It is expected to focus on shared campaign pledges such as youth employment, abolishing breach of trust charges, shareholder taxation thresholds for large stockholders, and revitalizing local construction markets.

In his opening remarks, Lee said, “I believe I must now become the president of the people, the president of all," adding, “Let us find as much common ground as possible and boldly implement joint pledges together.” Jang said, “Please become a president who ends the politics of survival by destroying one’s opponent. If the president plays a central role in restoring politics, the opposition will actively cooperate for the people’s livelihood.” Jung responded, “The president today seemed to be a ‘harmony maker.’”

During his 30-minute private meeting with Jang, Lee reportedly sought to address concerns about the ruling bloc’s hardline push for prosecution reform, assuring that opposition views would be reflected. He also agreed to maintain regular communication with opposition leaders whenever requested by Jang.

The two sides, however, remained divided over contentious issues such as the extension of the special counsel law. Jang told Lee, “During your first 100 days in office, the special counsel was more visible than the president himself,” and asked him to exercise his veto over the ruling party’s proposals to extend the special counsel law, establish a special tribunal for insurrection, and expand the number of Supreme Court justices. Jung, in contrast, said, “At the very least, insurrection and treason must be dealt with under a principle of zero tolerance. Those responsible for declaring martial law should make a sincere apology and cooperate in ending insurrection.”

The luncheon also marked the first handshake between the two party leaders since taking office. Jung, who had previously refused to shake hands by labeling the People Power Party “rebellion party,” exchanged a handshake and greetings with Jang before the commemorative photo session.


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