Lee Jae-myung and Yoon Suk-yeol (order in the photo), the presidential candidates of South Korea had a heated competition in the election.
On March 9, 2022, the fierce 20th presidential election in South Korea ended, and the future of South Korea was handed over to the new president and his party. The gap between the first and second places was only 0.73%, 247,077 people, which is recorded as the second smallest margin in the history of the presidential election in South Korea. The gap was less than new confirmed cases of COVID-19, 327 549 people, in South Korea on the day of the vote. It slightly shows how intense the competition was.
The 20th presidential election is the first presidential election and the third of all elections in South Korea since the outbreak of COVID-19. Fourteen candidates ran in this presidential election, and two later resigned. The two-day early voting turnout from March 4 to March 5 was tallied at 36.93 percent on a nationwide basis, the highest since the 2014 local elections when the early voting system was first introduced. In addition to the early voting rate, the final turnout combined on March 9 was 77.1% nationwide. As a result of the presidential election, candidate No. 2 Suk-Yeol Yoon of the People Power Party got 16,394,815 votes, winning by 48.56%. Candidate No. 1 Jae-Myung Lee of the Democratic Party got 16,147,738 votes, coming in second place with 47.83% of the vote. Also, candidate Sang-Jung Sim of the Justice Party won third place with 2.37% of the vote. It implied that the 20th presidential election was a heated competition between two candidates.
Both candidates, Lee and Yoon, proposed the main pledges regarding the complete recovery from the COVID-19 pandemic for people damaged a lot by the quarantine regulations. They would provide total compensation and support for the damage they have struggled with for over two years, raising funds through general accounting and emergency supplementary budget. Lee promised an adjustment from a drop in credit ratings of small business owners and self-employed people on the verge of arrears due to the pandemic. And Yoon announced setting up a COVID-19 emergency response roadmap under the president's direct control for the immediate operation of an emergency rescue program.
Despite the same purpose, the recovery of the whole nation, various determinants made the 20th presidential election fiercer than ever, such as scandals and mudslingings known in public, and the candidates' incompatible pledges are one of them. In other words, there is no big difference in pledges regarding the support scheme for COVID-19 mentioned above, but there are critical differences in the way state affairs are run and foreign and security policies.
In economic policy, both candidates vowed to supply housing but showed differences, with Lee focusing on basic income and Yoon focusing on employment. Among the pledges of Lee, the most notable pledge can be seen as the introduction of basic income. It would provide 2 million won per year to people aged 19 to 29 and 1 million won per year to all citizens. On the other hand, Yoon's pledge regarding employment emphasized job creation through the private sector rather than the public sector, boosting corporate investment by eliminating unnecessary regulations on corporations.
The pledge that showed the starkest stance between the two candidates was in the diplomatic and security sectors. Lee said he would promote cooperation with North Korea with the vitalization of inter-Korean exchanges among the younger generation. Lee also planned to build a "Smart, powerful army" with the advanced technology of the fourth industry to strengthen its deterrent capabilities in response to nuclear weapons and weapons of mass destruction (WMD) and develop the South Korea-U.S. alliance into a comprehensive alliance. In comparison, Yoon pledged to implement sustainable peace on the Korean Peninsula through the complete denuclearization of North Korea and conclude a peace treaty when it is achieved. Even more, Yoon stated to deploy additional THAAD (Terminal High Altitude Area Defense) to enhance its deterrence against North Korea, restore trust in the South Korea-U.S. military alliance, and strengthen future-oriented solidarity.
Regarding the constitutional revision, Lee planned to practically operate the "responsible prime minister system," including the implementation of a four-year term system for being re-elected, while Yoon intended to dismantle the existing Cheong Wa Dae, the Blue House, and relocate the presidential office to the Government Complex Seoul. Both are for cleaning up the remnants of the imperial presidential system. Such similar but distinct pledges and plans have made the people's decisions more cautious, resulting in a difference within 1% between Lee and Yoon, which can be considered the most intense election result in Korean history.
Yoon Suk-yeol, the elected, delivers his presidential inauguration speech in front of the National Assembly in Seoul on May 10, 2022.
It has been two months after the 20th presidential election of South Korea, and on May 10, President Suk-yeol Yoon had an inauguration with the keyword 'freedom.' "Human history shows that when political and economic freedom reigns supreme, that is where prosperity and abundance flourished. When prosperity and economic freedom flourishes, that is when freedom reaches even the darkest corners.", stated Yoon. As he emphasized the ambitious goal of his government, which is the economic advancement of the nation, with 'freedom,' President Yoon is expected to fulfill the accountability as a head of state to make "a country based on the pillars of freedom, human rights, fairness, and solidarity."
Since the impeachment of former President Park was sentenced in 2016, the politics of South Korea has been chaotic itself. After that, Progressives and Conservatives have become more divided, and there has been much conflict between them. And the former President Moon's government marked the end of its term on May 9, 2022, amid numerous controversies with the outbreak of COVID-19. Since President Yoon's government has now begun, public attention is focused on the new government's future, which has entered a new phase with the start of the Endemic.
Written by Suemin Jeong | Staff Writer
Revised by Yu Bin Kwon | Managing Editor
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