The first TV debate of the presidential candidates, held on the 18th, focused on the 'economy' but was essentially conducted as a 'negative offensive' targeting rival candidates. In particular, candidates from the conservative camp launched a 'pro-China onslaught' regarding Lee Jae-myung, the Democratic Party of Korea presidential candidate's diplomacy towards China, and issues such as illegal remittances to North Korea stood at the center of the economic debate, leaving somewhat of a disappointment.

People Power Party Kim Moon-soo (from left), Democratic Labor Party Kwon Young-guk, Reform Party Lee Jun-seok, Democratic Party of Korea presidential candidate Lee Jae-myung are promising to perform well at the candidate debate for the 21st presidential election hosted by the Central Election Broadcasting Debate Commission held at SBS Prism Tower in Mapo-gu, Seoul on Nov. 18. /Courtesy of News1

◇ Lee Jun-seok: “Too pro-China”; Kim Moon-soo: “The U.S. stance is terrible...” Lee: “The pro-China drive is inappropriate”

The one who opened the ‘pro-China onslaught’ was Lee Jun-seok, the Reform Party candidate. During the debate on that day, candidate Lee Jun-seok directed a question at candidate Lee Jae-myung, asking, “Isn’t your statement about 'xie xie' too pro-China?” This was a reference to the 'xie xie' (meaning thank you in Chinese) remark that candidate Lee Jae-myung made in a past rally in Daegu.

In response, candidate Lee Jae-myung countered, saying, “We do not need to intervene too deeply in the disputes between Taiwan and China; it is essential to respect the status quo and maintain distance.” He added, “Using pro-China expressions as a politician is not appropriate. Please do not label me as pro-China.”

After that, candidate Lee Jun-seok pressed further, asking, “So, if an invasion issue arises in the Taiwan-China relationship, will you intervene or not?” to which candidate Lee Jae-myung replied, “We must judge flexibly as the situation unfolds, and the standard for judgment must be the national interest of South Korea.”

In response, candidate Lee Jun-seok stated, “Candidate Lee Jae-myung's answers vary each day after a night’s sleep,” adding, “If tensions between China and Taiwan escalate, you must clearly state whether you will intervene or not.”

Candidate Kim Moon-soo from the People Power Party criticized candidate Lee Jae-myung's ‘pro-China activities’, stating, “During his time as mayor of Seongnam, he advocated for the withdrawal of THAAD, and during his tenure as Democratic Party leader in 2023, he couldn’t respond to threatening remarks made by Sing Haiming, the Chinese ambassador to South Korea, and simply backed down.”

Candidate Kim Moon-soo remarked, “From the U.S. perspective, it’s a horrifying message,” and said, “The Korea-U.S. alliance should be the fundamental axis, but based on the statements candidate Lee Jae-myung is making, it is horrifying for the U.S.”

In response, candidate Lee Jae-myung said, “You don’t need to worry,” adding, “The Korea-U.S. alliance must progress from a security alliance to an economic alliance, and it’s clear that this should be a fundamental aspect of diplomacy.” He continued, “However, that doesn’t mean we should be completely dependent; diplomacy must always focus on the practicality of national interests.”

The issue of legal risks also surfaced. Candidate Kim Moon-soo began attacking candidate Lee by saying, “You are on trial for illegal remittances to North Korea” while discussing the semiconductor industry.

Candidate Kim Moon-soo argued, “Lee Hwa-young, who was under (the candidate), received a sentence of 7 years and 8 months. Is it possible for a governor not to know of his deputy's prison sentence? In such a situation, how can the economy be revived?”

Candidate Lee Jae-myung did not back down. He retorted, “When Mr. Kim's campaign received millions of won, he claimed ignorance and was cleared of charges; why didn’t you know about that?”

In response, candidate Kim Moon-soo asserted, “Having been a governor, can a deputy carry out North Korean projects without the governor's knowledge?” to which candidate Lee responded, “Of course, I would know about North Korean projects. But is it conceivable that a private contractor secretly gave money to North Korea on my behalf?”

◇ U.S. tariff negotiations... Lee: “There’s no need to rush” Kim: “Hold the summit immediately”

The candidates' strategies regarding tariff negotiations with the Donald Trump administration differed.

Candidate Lee Jae-myung stated, “The most important principle in negotiations is to focus on national interests,” adding, “There is no need to hurry for an early conclusion to the negotiations.” He cited examples from Japan and China, saying, “I will prepare carefully and competently. It is necessary to diversify export markets and items.”

On the other hand, candidate Kim Moon-soo stated, “I have formed the most amicable and trusted relationship with Trump among the presidential candidates, so I will hold the Korea-U.S. summit immediately,” and added, “Based on Korea-U.S. trust, I will successfully conclude the negotiations before the end of the tariff exemption on July 8.”

Candidate Lee Jun-seok from the Reform Party pointed out that candidate Lee Jae-myung labeled Japan as an 'enemy state', stating, “To solidify ties with the U.S., we need to manage our relationship with Japan pragmatically.”

Candidate Kwon Young-guk from the Democratic Labor Party said, “Trump’s tariff bomb is not trade; it is plunder,” adding, “We must not be servile to either the U.S. or China.”

Each candidate offered different solutions in response to questions about 'economic revitalization.' While candidate Lee Jae-myung highlighted the need for a supplementary budget, candidate Kim Moon-soo emphasized 'debt restructuring for small businesses.'

Candidate Lee Jun-seok from the Reform Party proposed the introduction of a 'minimum wage adjustment system', while candidate Kwon Young-guk from the Democratic Labor Party suggested 'wealth tax increases' as measures.

In addition, regarding the 'yellow envelope law (revised provisions of the Labor Union Act 2 and 3)' included in the Democratic Party's top ten pledges, candidates Lee Jae-myung and Kim Moon-soo engaged in a heated exchange.

Candidate Kim Moon-soo asked, “The government has exercised veto power on the yellow envelope law twice. If you become president, will you push for the yellow envelope law again?” Candidate Lee Jae-myung responded, “The Supreme Court’s ruling has already recognized the necessity of the bill. The International Labour Organization also acknowledges it. The yellow envelope law must be enacted.”

In response, candidate Kim said, “The yellow envelope law does not fit within the constitution or the civil law. If pushed too hard, it will become impossible to do business in our country, and disputes may continue to arise.” He added, “In that regard, this bill must be reconsidered.”

Furthermore, candidate Lee Jun-seok from the Reform Party criticized candidate Lee Jae-myung's recent comments about the transfer of HMM, South Korea’s largest shipping company, as a ‘Lee Jae-myung risk’ in the stock market.

The Democratic Party agrees to push for amendments to the Commercial Act, including ‘directors’ duties to shareholders,’ to address the ‘Korea Discount’ (the undervaluation of the domestic stock market), but claims that candidate Lee's remarks about ‘private enterprise transfers’ increase uncertainty in the stock market.

At the candidate debate for the 21st presidential election hosted by the Central Election Broadcasting Debate Commission held at SBS Prism Tower in Mapo-gu, Seoul on Nov. 18, the presidential candidates from each party are promising to perform well. From left, People Power Party Kim Moon-soo, Democratic Labor Party Kwon Young-guk, Reform Party Lee Jun-seok, Democratic Party of Korea presidential candidate Lee Jae-myung. /Courtesy of News1

◇ The party’s campaign committee engages in fierce ‘outside war’... “Lee Jae-myung vs. Lee Jun-seok ‘in the spotlight’”

The Democratic Party also focused on candidate Lee Jun-seok, launching a ‘fact-check’ message confirming the accuracy of comments made during the debate. This was intended for situations where responses from candidate Lee Jae-myung to questions from rival candidates were insufficient, to provide additional responses.

Out of a total of 17 'fact checks,' 10 were aimed at refuting the statements of candidate Lee Jun-seok. These included points regarding the adverse impact of extending retirement age on the youth, the introduction of a ‘minimum wage adjustment’ to revitalize the economy, limitations of wind power in establishing data centers, and the drawbacks of the Grain Management Act. Additionally, many points were rebuttals related to candidate Lee Jae-myung's pledges criticized by candidate Lee Jun-seok, such as 'hotel economics' and the '4.5-day work week.'

The People Power Party also mounted a counterattack. The party's media legal team released a document during the debate titled ‘Checking the fact-check,’ stating, “The assertion by candidate Kim Moon-soo that ‘the yellow envelope law does not fit the constitution and civil law’ is false according to the Democratic Party.

The media legal team noted, “The yellow envelope law denies the non-genuine joint liability for illegal acts, declaring exceptions to the constitution and civil law,” adding, “The Supreme Court’s ruling characterizes the burden of proof individually, which is a different logic from denying joint liability.”

Furthermore, they asserted, “Candidate Kim Moon-soo’s claims regarding unconstitutionality and illegality accurately point out the unconstitutionality and illegality of the yellow envelope law.”

The Reform Party's election countermeasures headquarters also actively responded by presenting research results indicating that extending retirement age adversely affects youth employment rates, claiming, “This is a statistically proven matter.”

Political circles commented that the ‘confrontation’ between candidates Lee Jae-myung and Lee Jun-seok during the debate was intriguing.

Political commentator Lee Jong-geun remarked, “Although there were no decisive moments for a particular candidate to seize a complete victory, the performance of Lee Jun-seok in creating a confrontation with Lee Jae-myung is quite commendable.”

The commentator added, “Lee Jae-myung, with his ‘solidifying strategy,’ emphasized flexibility and stability, concentrating on defense,” while suggesting that “Lee Jun-seok didn’t manage to display trust and stability to offset his age, but highlighted himself as the opponent that Lee Jae-myung is most conscious of.”

Park Seong-min, a political consultant and head of 'Min', expressed the impression that “Candidate Lee Jae-myung seems to feel a significant degree of 'burden' regarding candidate Lee Jun-seok,” adding, “Candidate Lee Jae-myung appeared defensive, opting not to ask questions, seemingly fearing a potential counterattack from Lee Jun-seok.”