Overview

• Lee Jae-myung, the Democratic Party's presidential nominee, called for private-sector leadership in revitalizing South Korea's economy, marking a departure from traditional government-led strategies.
• At a roundtable with business leaders, Lee advocated for a paradigm shift, emphasizing the adoption of artificial intelligence and renewable energy to enhance industrial competitiveness.
• Lee warned of the risks posed by reliance on coal-fired energy under RE100 requirements, urging investment in renewable energy industries to maintain global competitiveness.
• The candidate framed his pro-business pivot as an effort to attract centrist voters concerned about economic growth, job creation, and market stability ahead of the June 3 election.
• South Korea's economy contracted by 0.2% in Q1 2025, with Lee stressing the need for government-business collaboration to counter trade pressures and map out strategies for recovery.