[WEEKLY FOCUS] Presidential hopefuls prioritize economy, highlighting AI and trade

As the country gears up for a pivotal presidential election, one particular theme is consistent across all major campaigns: the economy.

Candidates are packing their pledges with economic and business-related policies, with different approaches to similar issues.

For more, we’re joined in the studio by our economics correspondent, Moon Hye-ryeon.

Welcome, Hye-ryeon.

It’s good to be here.

So what are candidates promising, and why is the economic agenda taking up such a significant portion of their pledges?

In South Korea, presidential candidates are required to submit a formal document to the National Election Commission that details their key policy proposals.

Looking at the two major candidates this year — Lee Jae-myung and Kim Moon-soo, a significant portion of their pledges focus on economic issues.

In the case of Lee Jae-myung, the Democratic Party candidate, half of his pledges have been classified under “economic” policies.

For Kim Moon-soo, the People Power Party candidate, this comes to a total of seven out of ten.

“It's true that Korea is now in a slump, with very low growth, among the worst globally, right? I will bring this economy back to life as a president of the economy, everyone!”

“To overcome the trade crisis stemming from the U.S. and the fierce AI race, and to avoid getting crushed between global superpowers, the entire nation must unite and pool its strengths.”

The prominence of economic pledges in their campaigns reflects how the country is grappling with slowing economic growth and global uncertainties stemming from U.S. trade policies.

Recent data has shown that economic growth shrank in the first quarter of the year, and economic institutions at home and abroad are revising down their economic projections.

As a result, both candidates are presenting themselves as the best equipped to tackle these issues.

Out of the many economic pledges you’ve just pointed out for us, are there any topics that seem to be getting special attention from the candidates?

Yes — and that’s evident in how the candidates have structured their pledges for submission.

Here’s what an expert said.

“Where a candidate places an issue, whether it ranks first or tenth, tells us a great deal about what they’re really focused on.”

So when artificial intelligence shows up as Lee Jae-myung’s number one pledge, and as Kim Moon-soo’s second, it sends a clear message that both candidates consider this to be central to South Korea’s economic future.

Both are pledging a huge sum of 100 trillion Korean won, approximately 71 billion U.S. dollars, in investments for AI, signaling the scale of their ambition for the sector.

Another overlap in their AI-related pledges is that they both agree that the current regulatory framework in the country is lagging behind other countries.

Lee wants to use special exemptions to help AI-convergent industries grow more quickly.

Kim, on the other hand, talks about aligning AI regulation with global standards and conducting impact assessments before new rules are introduced.

It’s a recognition that if Korea wants to compete with the likes of the U.S. or China, it can’t afford red tape that slows down innovation.

In that case, what are some other differences in their AI strategies?

Lee Jae-myung emphasizes public access.

His “AI for All” initiative would offer citizens free, advanced AI services — including a Korean-made version of ChatGPT.

He also pledges to secure over 50 thousand high-performance GPUs and establish a national AI data cluster.

Meanwhile, Kim Moon-soo proposes a public-private fund to foster AI unicorn firms and expand industry talent.

And he has very specific targets for talent: he plans to train 200 thousand young AI professionals through expanded graduate programs and software-centered universities.

And worth mentioning here, although less prominent in the polls, is Lee Jun-seok, the former People Power Party leader now running as a third-party candidate.

His AI vision calls for a dramatic reduction in state intervention and wants market-driven AI innovation, with stronger digital sovereignty and open-source infrastructure at the core.

AI is a topic that’s become more prominent recently, and I’m wondering if the candidates also address another pressing issue these days: trade?

That’s right, trade is a pressing issue as reciprocal tariff exemptions from the United States expire just a month after the elections.

Kim Moon-soo’s top pledge centers around trade, as he proposes a reset of Korea’s trade strategy, starting with an immediate South Korea–U.S. summit and new negotiations on tariffs.

Lee Jae-myung is more focused on domestic resilience.

While he acknowledges the need to adapt to the global economic order, he doesn’t emphasize alliances or trade pacts in the same way.

Instead, he prioritizes homegrown innovation and economic self-reliance, in line with his vision of building a more robust domestic economy that’s less vulnerable to external shocks.

Lee Jun-seok, again, takes a different line: he supports a decentralized, tech-led foreign trade approach, advocating for the use of blockchain in customs, logistics, and trade settlement to reduce dependence on geopolitical dynamics.

Hye-ryeon, thank you for your report.

Thank you for having me.