Promises outlined by South Korea's conservative presidential hopeful, Kim Moon-soo
SOUTH KOREA - Conservative presidential contender Kim Moon-soo aims to garner support for his campaign by proposing economic policies centered on deregulation, a firm stance against North Korea, and financial aid for the middle class.
Here, we outline some of Kim's key campaign pledges ahead of the June 3 election:
G.O.P. MEETING WITH TRUMP
The former Minister of Labor, Kim Moon-soo, has proposed an immediate summit with U.S. President Donald Trump to discuss tariffs and address the alliance between the two nations, stating his readiness to address North Korea and China's concerns.
NORTH KOREA
Kim has expressed skepticism towards engagement with North Korea, aligning himself with the hardline approach of the impeached President Yoon Suk Yeol. He plans to reinforce South Korea's defense against North Korean nuclear threats and aims for "pre-emptive deterrence," acquiring the necessary retaliatory tools such as ballistic missiles. He also seeks stronger security guarantees from the U.S., including the redeployment of tactical nuclear weapons and the right to reprocess nuclear fuel, key steps towards building South Korea's own atomic weapons.
ECONOMY
Kim promises to create a conducive business environment by easing regulations, expanding incentives for companies investing in South Korea, and amending the industrial safety law to shield executives from criminal charges for lethal workplace accidents. Like his liberal contender Lee Jae-myung, Kim eyes South Korea's growth as a global leader in artificial intelligence (AI) and intends to establish a joint private-public fund worth 100 trillion won ($71.21 billion) to support infrastructure for the sector. Kim also plans to cut taxes for the middle class and facilitate asset accumulation through a fair, transparent cryptocurrency market and crypto-linked funds. He proposes labor unions should bear legal accountability for damages caused during strikes rather than relying on their current immunity.
SECURITY
Kim suggests revising South Korea's anti-espionage legislation, extending its scope beyond military secrets to broader areas, such as academia.
ENERGY
Kim advocates for the expansion of nuclear power generation to reduce electricity prices for corporations and cater to the demands of the AI sector.
DEMOGRAPHICS
Kim proposes increasing housing support for younger generations, newlyweds, and new families, including the coverage of fertility treatments like sperm and egg freezing under public health insurance to combat South Korea's record low birthrate.
Sources: Reuters
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- Kim Moon-soo, a conservative presidential candidate in South Korea, seeks to secure financial aid for the middle class as part of his economic policies.
- In a bid to strengthen bonds with the U.S., Kim has suggested an immediate summit with President Donald Trump to address tariff issues and regional security concerns.
- The former Minister of Labor also aims to bolster South Korea's defense against North Korea with a focus on "pre-emptive deterrence" and acquiring retaliatory tools like ballistic missiles.
- As part of his economic agenda, Kim plans to create a favorable business climate by simplifying regulations, expanding incentives for foreign investors, and supporting South Korea's growth as a global hub for artificial intelligence (AI).
- In the realm of personal finance, Kim intends to cut taxes for the middle class and regulate the cryptocurrency market for fairer asset accumulation opportunities.
- Recognizing South Korea's aging population and record low birthrate, Kim has proposed increasing housing support for younger generations, newlyweds, and new families, also including fertility treatments under public health insurance.
