LEE JAE-MYUNG
A landslide win for the Democratic Party in April parliamentary elections gave Lee a strong tailwind for another run for the presidency, but he is also facing the risk of being excluded from political life after a court convicted him of violating election laws in November.
Under Lee, the Democratic Party has been looking to increase taxes on wealthy individuals and the chaebol conglomerates that dominate the corporate landscape. He is also an advocate of a universal basic income and has proposed a total of 13 trillion won (S$12.4 billion) in cash handouts to citizens as a way to revive the economy.
Lee advocates a more conciliatory approach to relations with North Korea than Mr Yoon, which might align with President-elect Donald Trump if the incoming US leader seeks to revive summit diplomacy with North Korean leader Kim Jong Un. However, Lee is more cautious about taking a hard line on China and pursuing closer relations with Japan, which could make coordination among the US and its regional allies more challenging.
This story is from the December 05, 2024 edition of The Straits Times.
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This story is from the December 05, 2024 edition of The Straits Times.
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