Looking into first TV debate on economy among S. Korea's 4 main presidential candidates

Welcome to Within The Frame, where we bring the most pressing issues across the globe into focus. I'm Kim Mok-yeon.

The economy is once again a decisive issue that could sway voter sentiment in South Korea's upcoming presidential election.

On May 18th, the four leading candidates—Lee Jae-myung of the Democratic Party, Kim Moon-soo of the People Power Party, Lee Jun-seok of the Reform Party, and Kwon Young-guk of the Democratic Labor Party—faced off in their first televised debate.

With Korea stuck in a prolonged period of 저성장, soaring inequality, and deepening regional disparity, each candidate laid out their vision to revive the everyday economy.

From job creation and fiscal policies to trade and labor reform, the stakes couldn't be higher.

Voters are no longer content with slogans—they're demanding realistic, concrete solutions.

On Within The Frame tonight, we break down what each economic pledge really offers, what sets them apart, and how feasible their roadmaps are in confronting Korea's most pressing economic challenges.

For a closer look into the trade dynamics, we are joined by Shin Se-don, Professor of Business Economics at Sookmyung Women's University. Welcome.

Also joining us online is Chai Sang-mi, Professor of Business Administration at Ewha Womans University. Good to see you.

1. (Shin) Let's begin with Prof. Shin, so on May 18th, the four leading presidential candidates — Lee Jae-myung of the Democratic Party, Kim Moon-soo of the People Power Party, Lee Jun-seok of the Reform Party, and Kwon Young-guk of the Democratic Labor Party — faced off in their first televised debate. The spotlight was on overcoming low growth and jumpstarting the everyday economy. Professor Shin, how did you assess the overall direction of the debate?

2. (Chai) While all four candidates agreed on the urgency of economic recovery, their proposed solutions couldn't have been more different. Professor Chai, can you walk us through the key differences between the plans put forward by the candidates?

3. (Shin) Let's now delve into the different pledges of each candidate. Democratic Party candidate Lee Jae-myung, he's proposing swift supplementary budgeting, paired with long-term investment in AI, renewable energy, and cultural industries. But since his strategy depends on aggressive fiscal expansion, some are warning about the risk of worsening fiscal health. Professor Shin, what's your evaluation?

4. (Chai) Turning to People Power Party candidate Kim Moon-soo — he's called for sweeping deregulation, including new bodies like a Regulatory Reform Committee and a Ministry for Regulatory Innovation. Professor Chai, is this level of economic restructuring necessary to escape the low-growth trap?

5. (Shin) Reform Party candidate Lee Jun-seok offered a localized approach, suggesting the minimum wage be adjusted by region. It's a bold departure from uniform policy. Professor Shin, how realistic and effective could this be for struggling communities?

6. (Chai) Democratic Labor Party candidate Kwon Young-guk is putting inequality, not growth, front and center. He's pushing for wealth redistribution through increased taxes on the rich. Professor Chai, how would you assess this equity-focused economic philosophy?

7. (Shin) Trade with the U.S. also split the candidates. Democratic Party's Lee Jae-myung says there's no rush to finalize tariff negotiations, while People Power Party's Kim Moon-soo insists on wrapping up talks before July 8th. Professor Shin, what do you make of this stark policy divergence?

8. (Chai) In labor policy, the fault lines were especially clear. Democratic Party candidate Lee Jae-myung supports the Yellow Envelope Law and a 4.5-day workweek. In contrast, People Power Party's Kim Moon-soo wants to reform the 52-hour workweek through labor-management consensus. Professor Chai, how should voters interpret these contrasting positions?

9. (Shin) And across the board, the candidates' proposals remain vague on funding details — raising questions about feasibility. When voters look at the economic pledges from the Democratic Party, People Power Party, Reform Party, and Democratic Labor Party, Professor Shin, where should they place the most weight?