Policy blueprint unveiled for Lee Jae Myung administration

On the local front a five-year policy road map has been unveiled for the new Lee Jae Myung administration.

Focus is on forging an AI ecosystem to seek new growth engines as well as upgrading South Korea's defense system.

Our top office correspondent Yoon Jung-min has this report.

Exactly 70 days after the new administration set sail following the snap election, a comprehensive policy road map has been unveiled for the next five years.

"I will make a country where the people are treated as owners, the real Republic of Korea, where everyone is happy, together. Beyond conflict and confrontation, I will open a path towards integration through politics that unite the people."

In line with this goal, three principles were set: unity, fairness and pragmatism.

President Lee Jae Myung was speaking at an event in Seoul on Wednesday where a set of blueprints was made public by the State Affairs Planning Committee, which now concludes its two-month-long job as a de facto transition team.

Included were 123 tasks in five areas, including politics, the economy and foreign affairs.

"The Republic of Korea is mired in low growth. We need a new framework in line with the changing environment."

Focus is on creating an AI ecosystem, centered around AI chips, as a future growth engine.

On top of that, the new government aims to usher in the "KOSPI 5,000 era" through forging an environment that is more investment-friendly.

When it comes to foreign affairs and security

"We will upgrade the three-axis defense system to secure deterrence of our own against North Korea's nuclear and missile threats."

The "three-axis" system refers to a three-pronged system consisting of the Korea Massive Punishment and Retaliation, the Kill Chain preemptive strike platform, and the Korea Air and Missile Defense system.

Seoul also plans to retake wartime operational control from Washington during Lee's term.

On top of that, the defense system will be bolstered to match the changing security environment, while seeking to improve inter-Korean relations.

Other goals include elevating South Korea as a global cultural powerhouse, with the aim of nurturing the K-culture market worth 300-trillion won, roughly 216-billion U.S. dollars.

Also announced were Constitutional reform to "better embody the principle of people's sovereignty," as well as prosecutorial reform to reduce the power that's often been too heavy on prosecutors.

To carry out those policy tasks, a total of 210-trillion won is needed along the way, according to the committee, which will be secured through taxes and belt-tightening.

What was unveiled on Wednesday will be under review by the Cabinet before confirmed.

Yoon Jung-min, Arirang News.