Assuming office during a period of considerable upheaval, President Lee Jae Myung shoulders heavy responsibilities: healing political divisions, reviving the economy, stabilising society, and balancing relations with major powers and regional neighbours.
As the political landscape in the RoK begins to stabilise, and with the National Assembly’s recent approval of Prime Minister nominee Kim Min Seok paving the way for a new cabinet, economic recovery has become the foremost task.
It is not difficult to understand why the economy is placed at the centre of Seoul’s policy agenda. President Lee Jae Myung has made clear that this is the most urgent issue to address, warning that if the current low growth persists, the window for sustainable development will narrow.
Recently, economic recession has emerged as a pressing challenge for the RoK. According to a report from the Korean Statistical Information Service, most of the country’s “backbone” industries remain in decline. Key export sectors such as semiconductors, automobiles, and steel face the risk of further contraction due to tariff tensions.
For an economy heavily reliant on exports like the RoK, global trade fluctuations can deliver a severe blow, making a swift recovery difficult.
President Lee Jae Myung has affirmed that the government will focus on developing high-tech sectors such as artificial intelligence, semiconductors, and renewable energy, while also modernising the capital market.
To bolster the economy and restore people’s livelihoods, the National Assembly has just approved a supplementary budget worth 31.8 trillion won. President Lee Jae Myung has affirmed that the government will focus on developing high-tech sectors such as artificial intelligence, semiconductors, and renewable energy, while also modernising the capital market.
A special task force has been established to address economic bottlenecks, balance living costs for citizens, and support small businesses. The President has also pledged to build a more robust social welfare system to protect vulnerable groups, aiming for a society where everyone’s basic needs are guaranteed.
Alongside domestic issues, the RoK is also paying special attention to balancing relations with major powers and neighbouring countries.
President Lee Jae Myung has put forward an initiative for pragmatic diplomacy agenda centred on national interests, with the aim of preserving peace and fostering economic development.
The foundation of this policy is to maintain the alliance with the US as a top priority in foreign relations, while also working to improve ties with major powers such as China and Russia. This initiative marks a clear shift in the new President’s foreign policy compared to the hard-line stance of his predecessor, Yoon Suk Yeol.
President Lee Jae Myung has put forward an initiative for pragmatic diplomacy agenda centred on national interests, with the aim of preserving peace and fostering economic development.
Notably, in relations with the Democratic People's Republic of Korea (DPRK), with a philosophy of dialogue rather than confrontation, the RoK President has taken a series of steps to ease tensions between the two sides immediately after taking office.
Accordingly, Seoul has shut down loudspeaker propaganda campaigns along the inter-Korean border, stopped the sending of anti-Pyongyang leaflets, and affirmed its desire to restore disrupted communication channels.
This represents a distinct policy shift towards Pyongyang, sending a strong message of determination to build peace on the Korean Peninsula through dialogue and cooperation.
According to public opinion polls conducted by Gallup Korea and Realmeter—RoK’s leading political evaluation and ranking organisations—public support for President Lee Jae Myung and the ruling Democratic Party has continued to rise. Analysts see this as a positive sign, creating favourable conditions for the government to push ahead with policies aimed at social stability, economic recovery, and restoring the RoK’s international position.
President Lee Jae Myung now bears the weight of the responsibilities as well as the trust of the people. Amidst unprecedented economic and social challenges, the new government is expected to continue its mission of maintaining unity and prosperity for the RoK.
