SEOUL (Reuters) -South Korea’s conservative candidate Kim Moon-soo is seeking to build momentum in his campaign by pledging economic policies focused on deregulation, a tough line on nuclear-armed North Korea and tax breaks for the middle class.
Here are some of Kim’s key campaign promises ahead of the June 3 election:
DEALING WITH TRUMP
Former labour minister Kim has proposed an immediate summit meeting with U.S. President Donald Trump to negotiate tariffs and claimed he is the best person to discuss the two countries’ security alliance and response to North Korea and China.
NORTH KOREA
Kim is critical of engagement with North Korea, and has backed the hardline approach of impeached President Yoon Suk Yeol.
He has proposed stronger defence against Pyongyang’s nuclear threats and promised to secure “pre-emptive deterrence” by acquiring “enough retaliatory tools” such as ballistic missiles.
He would also pursue stronger security guarantees from Washington such as the redeployment of U.S. tactical nuclear weapons, and seek the right to reprocess nuclear fuel, a major step towards building the country’s own atomic weapons.
ECONOMY
Kim has vowed to create a business-friendly environment by easing regulations, expanding incentives for companies investing in South Korea and revising the industrial safety law to stop company executives from facing criminal charges for lethal workplace accidents.
Like his rival and liberal frontrunner Lee Jae-myung, he has pledged to help the country grow as a powerhouse for the artificial intelligence (AI) industry, promising to create a private-public joint fund worth 100 trillion won ($71.21 billion) to support infrastructure for the sector.
He also plans to slash taxes for the middle class and help them build assets by allowing a fair, transparent cryptocurrency market and crypto-linked funds.Labour unions should not have immunity from legal responsibility for property damage they caused during strikes, Kim said, opposing a plan by Lee’s Democratic Party to revise the law to give more protection for union members taking job actions.
SECURITY
He has proposed revising South Korea’s anti-espionage act beyond the disclosure of military secrets to broader areas such as academia.
ENERGY
Kim plans to expand nuclear power generation to reduce electricity prices for corporations and meet demand for the AI sector.
DEMOGRAPHICS
He has proposed increasing housing support for younger generations, newlyweds and new families, including sperm and egg freezing in public health insurance coverage to boost the country’s record low birthrate.
($1 = 1,404.3200 won)
(Reporting by Ju-min Park, Jack Kim; Editing by Ed Davies, Kate Mayberry and Saad Sayeed)
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