In a strategic move to capture voter support in the Yeongnam region, Lee Jae-myung, a preliminary candidate for the Democratic Party, has unveiled plans to relocate the Ministry of Oceans and Fisheries to Busan. This initiative aims to transform the area into a maritime capital, known as the 'Bougyeong' mega-city. Lee's proposal, which emphasizes the importance of cultural development, comes as he seeks to solidify his political standing ahead of the Democratic Party's presidential primaries.
During a recent visit to Daegu, Lee engaged with local webtoon artists, reviving his vision of South Korea as a 'cultural powerhouse.' "True strength lies in culture," Lee stated, highlighting the region's unique cultural assets, including the popular filming location of the hit webtoon series, '폭싹 속았수다' (You’ve Been Totally Deceived), which has drawn significant tourist interest.
Lee expressed a personal connection to the Daegu and Gyeongbuk regions, stating, "I was born in Andong and grew up eating the food and drinking the water of Daegu and Gyeongbuk. My affection for this area is special." This personal touch aims to resonate with local voters as he seeks to enhance the livelihoods of cultural artists outside the capital.
In addition to relocating the Ministry of Oceans and Fisheries, Lee's vision includes moving all policy finance institutions, such as the Korea Development Bank, to Busan. He believes that this consolidation will bolster the local economy and create job opportunities. "Making Busan a global financial center will significantly contribute to the region's development," Lee asserted.
Kim Dong-yeon, another Democratic candidate, echoed Lee's sentiments regarding Busan's potential. He emphasized the importance of transforming the city into a maritime capital while also promoting Daegu as an advanced industrial hub. Kim stated, "Moving policy finance institutions to Busan will help the region's economy and job creation significantly."
As the candidates prepare for their first TV debate, scheduled for April 18, 2025, at 8:30 PM on MBC, the stakes are high. This debate will cover critical topics such as politics, economy/security, and societal issues, structured around common questions and candidate-led discussions. It is expected to be a pivotal moment in the Democratic Party's presidential primary race.
In the same debate, the candidates also addressed differing opinions on tax policies, particularly concerning tax increases and cuts. Lee Jae-myung argued against pursuing tax increases, stating that the current economic climate does not support such measures. "Given the difficult economic situation, pushing for tax increases seems inappropriate," he remarked. Instead, he suggested that necessary resources should be managed through expenditure adjustments, advocating for a focus on restoring growth rates to develop fundamental fiscal strategies.
Conversely, Kim Kyung-soo and Kim Dong-yeon raised concerns about tax cut policies. Kim Kyung-soo emphasized the need for aggressive fiscal strategies to navigate the national crisis. He argued, "To solve our current national crisis, we need proactive fiscal strategies," while also stressing that government trust is essential for engaging the public on these issues.
Kim Dong-yeon criticized the trend of populist tax cuts among politicians, stating, "It is dishonest for politicians to make numerous tax cut promises without considering the implications." He maintained that if tax increases are to be considered, there must be significant expenditure restructuring to support such decisions.
The debate is poised to shape the Democratic Party's direction as candidates grapple with critical issues affecting the nation. With Lee Jae-myung's focus on cultural empowerment and regional development, alongside the differing fiscal strategies proposed by his rivals, the Democratic primary is set to be a battleground of ideas and visions for South Korea's future.
