After the oath, President Lee Jae-myeon promised to tackle the economy and improve relations with North Korea.
South Korea’s new president, Lee Jae-myeon, took office following a landslide victory in the polls, has promised to “heal the wounds” after months of political and economic turmoil across the country, and has pledged to resume dialogue with North Korea in his first speech.
Lee, a South Korean Liberal Democrat, expelled President Yoon Sook-Yeol, who caused a national emergency last year when he temporarily imposed martial law, citing martial law and North Korea’s penetration.
After taking the oath of office in Congress on Wednesday, Lee has pledged to help South Korea turn the course back after months of uncertainty and political protest.
South Korea is also under attack from the United States, the top economic and security ally under President Donald Trump, with trade protectionism rising.
“The Lee Jae Myung government will become a practical pro-market government,” Lee said in his speech.
Lee said he would try to advance relations between South Korea and Pyongyang, “We will open communication channels and pursue dialogue and cooperation to build peace on the South Korean Peninsula, blocking North Korea’s nuclear and military provocations.”
“We will heal the wounds of division and war and establish a future of peace and prosperity,” he said.
“No matter how expensive it is, peace is better than war,” he added.
Lee also said that “rising protectionism and supply chain restructuring” poses a threat to South Korea’s export-driven economy and addresses the cost of living facing middle and low-income families.
The South Korean caretaker government, which ruled after Yoon’s expulsion, failed to negotiate a trade deal with the Trump administration to cut tariff proposals on imports from the country.
Trump’s 25% “liberation day” tariffs aimed at addressing US trade imbalances are currently suspended for negotiations, but South Korean exporters have been hit with new 50% tariffs on steel and aluminum products.
Lee won this week’s SNAP election with 49.4% of the vote, far surpassing conservative candidate Kim Moons.
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