[Editorial] Election race begins

With just three weeks until South Korea’s presidential election on June 3, the race has officially begun. On Monday, the seven declared candidates launched their campaigns, but early polls show the contest is mainly focused on a two-way battle.

A poll released by Hangil Research on Tuesday showed that Lee Jae-myung of the liberal Democratic Party of Korea led with 49.5 percent support. Kim Moon-soo of the conservative People Power Party followed at 38.2 percent.

Lee Jun-seok of the minor conservative New Reform Party trailed with 5.7 percent. Roughly 5 percent of voters remain undecided.

This accelerated election — triggered by the ouster of former President Yoon Suk Yeol over his Dec. 3 botched martial law declaration — arrives at a moment of economic decline, political turmoil and mounting global trade tensions. The stakes are unusually high, and the window for voter scrutiny is unusually narrow.

Each of these candidates has laid out an ambitious set of policy pledges. While their visions overlap on themes like economic growth and institutional reform, their methods and ideologies diverge sharply.

Lee Jae-myung, the overall front-runner, envisions transforming South Korea into a “world-leading economic powerhouse” through heavy investments in artificial intelligence and advanced technologies. He promises to expand the AI budget to global standards, revise commercial law to protect minority shareholders and overhaul the judiciary and prosecutorial systems — part of his longstanding campaign to confront what he calls “entrenched elites.” He also promises to take a national interest-driven approach to foreign and trade policies, while seeking a fairer economy through a better distribution of wealth across society. His labor platform includes a phased shift to a four-day workweek by 2030, a move aimed at younger voters.

Kim Moon-soo, representing the conservative mainstream, proposes a “business-friendly” environment and create more jobs, driven by deregulation, tax cuts and infrastructure expansion. His platform includes reductions in corporate and inheritance taxes, industrial electricity rates and labor constraints. Kim also promises to create a private-public fund worth 100 trillion won ($71.2 billion) to support the AI industry. His policy initiatives include plans to expand the GTX rail network and ease housing costs for newlyweds and young families. His national security stance is hard-line: redeployment of tactical nuclear weapons and the development of nuclear-powered submarines. He also proposes sweeping reforms in health care and small-business relief, placed directly under presidential oversight.

Lee Jun-seok offers a reformist vision anchored in decentralization and technocratic governance. He proposes reducing the number of ministries from 19 to 13, devolving corporate tax and minimum wage decisions to local governments, and adopting a performance-based pension system. Lee also pitches a “fast-track visa” for scientists and a regulatory overhaul modeled after global best practices. His education pledge to provide legal counsel for teachers reflects a focus on professional protections within the public sector.

The breadth of policy ambition is striking. But what’s missing is time — time for meaningful debate, for public vetting and for media scrutiny. Election platforms in South Korea are often crowded with populist promises meant to galvanize short-term support. Too often, these commitments disappear after Election Day, leaving voters disillusioned and the democratic process diminished.

This is a pattern the nation can no longer afford. With the country at an inflection point — economically and politically — campaign promises must be treated not as slogans but as contracts with the public. Voters should resist partisan reflexes and instead weigh the credibility and coherence of each candidate’s agenda.

The next president will inherit more than a fractured government. They will inherit the responsibility to restore institutional trust, re-anchor the economy and navigate an increasingly volatile global order. The task ahead is formidable. The electorate’s role, therefore, is not just to choose a leader — but to demand clarity, feasibility and accountability from those who seek power.