Seoul: President Lee Jae Myung laid out his agenda for this year, declaring that the government seeks to achieve a major leap in politics, the economy, and diplomacy, signaling a shift from his early focus on pulling the nation out of political turmoil triggered by a failed martial law bid by his predecessor.
According to Yonhap News Agency, in a New Year's Day speech, Lee stated, "The goal of this people-centered government is clear. We will gallop powerfully like the Red Horse this year -- the first year of a great leap forward for the Republic of Korea." This year marks the Year of the Horse.
"Across all sectors -- politics, the economy, society, culture, foreign affairs and national security -- we will achieve a major leap forward and sustained growth without fail," Lee emphasized. He took office in June following a snap election triggered by the ouster of former President Yoon Suk Yeol over his failed martial law bid in December 2024, facing the urgent task of stabilizing domestic politics and revitalizing the sluggish economy.
Lee highlighted several accomplishments, including a rebound in consumer sentiment helped by expansionary fiscal policies, the benchmark Korea Composite Stock Price Index surpassing the 4,000 point mark for the first time, annual exports exceeding US$700 billion, and securing a deal to acquire 260,000 graphic processing units from U.S. chipmaker Nvidia to support the government's AI initiatives.
On the international front, he noted South Korea's return to the global stage, the conclusion of a trade deal with the United States, and Washington's approval of Seoul's plans to build nuclear-powered submarines and pursue uranium enrichment and spent nuclear fuel reprocessing capabilities.
Acknowledging that many benefits from the U.S. trade deal and large defense and nuclear contracts have mainly flowed to major conglomerates, Lee pledged to ensure broader distribution of the gains from growth. He proposed shifting from a development model centered on the Seoul metropolitan area and large corporations towards a more inclusive, nationwide strategy.
He introduced the idea of transitioning from a "unipolar, Seoul-centered model" to a "five-pole, three-specialized-zone framework," with distinct roles for different regions across the country. Additionally, Lee announced the use of a fledgling public-private fund to share the fruits of economic expansion more evenly and to support young entrepreneurs and start-up founders.
The National Growth Fund, launched in December, is designed to attract 150 trillion won (US$103.6 billion) in government and private investment over the next five years to foster strategic high-tech industries, including AI, semiconductors, and renewable energy.
Reaffirming his commitment to easing tensions with North Korea, Lee pledged to support U.S. efforts to revive diplomacy with Pyongyang, positioning South Korea as a "pacemaker." The government is taking steps to lower military tensions and rebuild trust between the two Koreas, while engaging diplomatically with the international community, including the U.S. and China, to promote peace on the Korean Peninsula.
"We will replace unstable growth constrained by the threat of war with stable growth supported by peace," he stated. "Steadfast peace is synonymous with growth, and robust security is the driving force behind prosperity."