Lee Jae-myung, the Democratic Party of Korea presidential candidate, said on the 23rd that it is "difficult to completely withdraw" from the current government's "tax cut" policy due to the tough economic situation.

Lee Jae-myung, the Democratic Party of Korea presidential candidate, holds a background briefing at the late former President Roh Moo-hyun's residence in Bongha Village, Gimhae, on the morning of the 23rd, the 16th anniversary of his death. /Courtesy of News1

The candidate stated during the second TV debate for the 21st presidential election, hosted by the Central Election Broadcasting Debate Committee, that in response to a question from Kwon Young-guk, the Democratic Labor Party candidate, asking, "Shouldn't we restore the tax cut for the wealthy under the Yoon Suk-yeol government?" he agreed by saying, "That is a valid point, and I agree in principle," but also noted that "the economic situation is currently too difficult, so I think it should be deferred."

In contrast, Candidate Kwon stated, "The Yoon Suk-yeol government, which cuts 87 trillion won in taxes for the wealthy, is behind the incidents of the vulnerable dying from financial difficulties," and added, "Regrettably, the Democratic Party also agreed to the tax cut during the budget review process. This tax cut must be restored."

The candidate declared several times during this presidential election that "the Democratic Party is moderate-conservative," presenting "growth" rather than distribution as the top priority. Unlike traditional progressive camps, he also emphasized the importance of "corporation-led growth." In particular, he promised to provide tax credit benefits targeted at corporations that engage in domestic production and sales in strategic industries such as semiconductors.