LEE JAE-MYUNG’S PLEDGE

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Now switching to politics, Democratic Party presidential candidate Lee Jae-myung had pledged to create a new Democratic Party. He is trying to stand apart from the incumbent administration by outlining his own real estate policies. Lee has also sent a clear message about former Justice Minister Cho Kuk.

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Lee Jae-myung says the Democratic Party and the current administration have been preoccupied on curbing demand for real estate.

[Soundbite] Lee Jae-myung(DP presidential candidate) : "They think the problem can be solved just by suppressing demand. But the market thinks otherwise. I am going to follow the market from now on. We have to respect the market rather than suppressing it."

Lee says demand and supply should be kept at normal levels. He also expressed confidence that he can stabilize house prices. In regards to Cho Kuk, President Moon once said he owed the former justice minster for the ordeal he had to endure. Lee had this to say about the Cho Kuk issue.

[Soundbite] Lee Jae-myung(DP presidential candidate) : "There is no doubt that members of the ruling party must take responsibility even for the smallest things. The bigger your authority, the more responsibilities you have."

Lee's remarks are seen as part of his efforts to stand apart from the current administration after pledging to create a new Democratic Party. Lee has also vowed to invest 135 trillion won in realizing his campaign pledge of digital transformation and related infrastructure. Lee is expected to lay out his plan on overhauling the DP's election committee as early as this week. He says members will be selected based on their skills regardless of their political preferences or age. Lee is also considering adjusting positions shared by five or six people and making it possible for working-level members to report to him directly. On Wednesday, Lee met with the chief of the National Assembly Standing Committee and the Committee's members. He urged them to swiftly process the bill on the restitution of development profits.