Lee Jae-myung Launches Presidential Bid, Vows to Tackle Inequality and Boost Economy

South Korean opposition leader Lee Jae-myung officially announced his candidacy for the presidency on Thursday, emerging as the front-runner in the June 3 election following the impeachment of former President Yoon Suk Yeol. The Constitutional Court upheld Yoon’s removal over his controversial martial law declaration in December, triggering a snap election.

In a campaign video, Lee emphasized economic inequality as a root cause of social and political unrest, pledging to prioritize inclusive growth. He vowed large-scale government investment in technology and talent development to revitalize the economy and bridge the wealth gap.

Known for his pragmatic stance, Lee stated that policy effectiveness should outweigh political origin. His balanced approach to foreign relations also reassured voters and critics alike, emphasizing the importance of the South Korea-U.S. alliance and trilateral cooperation with Japan—anchored by Korea’s national interests.

Lee, 61, narrowly lost to Yoon in the 2022 presidential race, marking the closest margin in the nation’s history. However, his popularity surged after leading the liberal Democratic Party to a major parliamentary win last year. A Gallup Korea poll released on April 4 shows Lee with 34% support, far ahead of his nearest conservative rival, former Labor Minister Kim Moon-soo, who trails at 9%.

On Wednesday, Lee resigned as party leader to focus on the presidential race. Meanwhile, the ruling People Power Party has yet to select its candidate, with a primary scheduled for May.

With strong liberal backing and a clear economic vision, Lee is positioning himself as the candidate of stability and reform in a politically turbulent era. His campaign will likely shape South Korea’s direction on economic policy and international diplomacy for years to come.