Lee Jae-myung, leader of the Democratic Party of Korea, met with export corporations to respond to the tariff war that intensified following the inauguration of U.S. President Donald Trump. He particularly emphasized to business leaders that 'the opinions of economic actors are the most important,' continuing towards a 'pro-business' stance. This is interpreted as an effort to appeal to moderate voters while consistently highlighting economic policy.
On the morning of the 5th, the Democratic Party held a comprehensive discussion with the business community under the theme 'Listening to the concerns of key export corporations in the Trump 2.0 era' at the National Assembly. Lee served as the moderator of the discussion, listening to voices from corporate think tanks, including Kim Won-jun, head of Samsung Global Research, Song Kyung-yeol, head of SK Economic Management Research Institute, and Yoon Chang-ryeol, head of LG Global Strategy Development Institute.
In his opening remarks, Lee emphasized the need for a trade strategy to respond to the onset of the Trump administration's second term. He stated, 'It seems that international trade issues have not previously attracted public concern and worry,' adding that 'the most important opinions for efficiently resolving this issue come from corporations and economic actors on the front lines.'
The closed meeting with export corporations was held in a manner that prioritized listening to corporate voices rather than the Democratic Party presenting opinions. Lee also posed the question to the participants from the business community, 'What is the most important?' Corporations primarily requested support for ▲ export corporation logistics ▲ artificial intelligence (AI) industry support ▲ design of industry policies centered on high-tech industries. Additionally, they urged the political sphere to directly persuade various stakeholders in the U.S. to respond to its trade policies.
Cho Seung-rae, spokesperson for the Democratic Party, met with reporters after the discussion and noted, 'There was a common observation that the design of industry policies centered on high-tech industries is critically needed,' and added that 'particularly, it was pointed out that the Korea International Trade Association's export outlook would hit its lowest in the fourth quarter, and export corporations requested logistics support.' He further stated, 'Focused support for AI is necessary, with qualitative enhancement of the workforce deemed most important.'
The Democratic Party stated that it would process the Semiconductor Special Law, Offshore Wind Power Law, Power Network Law, and Distributed Energy Law as quickly as possible to support corporations. He also emphasized that the contentious 'white-collar exemption (exemption from the 52-hour workweek for high-income professionals)' in the Semiconductor Special Law would be resolved. Additionally, through the Korea-U.S. Congressional Friendship Association, co-chaired by Representative Kim Young-bae, they promised to persuade various stakeholders in the U.S. and support export corporations.
Cho noted, 'If we specifically design the exemption issue related to the 52-hour workweek in the Semiconductor Special Law, reflecting the concerns of the labor sector, there is no reason why an agreement cannot be reached,' and added, 'In relation to AI, infrastructure development is important, and there are requests for substantial support for personnel and energy.'
He remarked, 'The Democratic Research Institute and the Policy Committee have conducted sector-specific discussions, and we will go through a process where we review policy proposals and receive feedback from corporations,' and noted that 'there is a consensus in the business community that thorough and accurate analysis is needed through the National Assembly's Special Committee on Trade.'
◇Lee emphasizes 'pragmatism' in energy, defense, and labor
Since the impeachment, Lee has consistently advocated 'pragmatism' and 'pro-business'. At a New Year's press conference on the 23rd of last month, he introduced the 'Black cat, white cat theory (it doesn't matter whether a cat is black or white as long as it catches mice)' emphasizing a departure from ideology. This is interpreted as an effort to secure votes from moderate and conservative groups amid the increasing possibility of a snap presidential election due to President Yoon Suk-yeol's impeachment trial.
On the previous day, Lee posted on social media, 'We need to discover defense cooperation partner countries to purchase our weapons at the national level and expand defense diplomacy,' and added, 'The Democratic Party will actively support and foster K-defense for national interests.' At a policy discussion on the 3rd, he hinted at a willingness to accept the white-collar exemption. In the energy sector, he showed movement to shift away from the 'nuclear phase-out' policy by agreeing to a budget of 213.8 billion won for nuclear power-related projects at the end of last year.
During the export corporations meeting that day, Lee stated, 'Now, the capacity of the private sector has entered the ranks of advanced countries, surpassing that of the government,' adding, 'I will seriously listen to your voices, who are continuously overcoming the great waves of international competition in the economic field, and consider how to reflect this in politics and administration to materialize it.'