South Korean presidential frontrunner Lee Jae-myung has called for a reconsideration of the deadline to finalise a trade deal with the US.
South Korean presidential frontrunner Lee Jae-myung has called for a reconsideration of the deadline to finalise a trade tariff agreement with the United States, saying more time is needed to secure a “mutually beneficial” deal between the two allies, Reuters reported on Sunday.
Speaking at a press conference, Lee reportedly said, “There is not much time. Isn’t diplomacy something that benefits both sides? If one country benefits and the other country suffers unilaterally, that is not diplomacy. It is called plunder.”
The current goal set by Seoul and Washington is to conclude a deal on tariffs and economic cooperation by July 8, but South Korea’s trade minister recently suggested that the timeline may need to be adjusted due to the upcoming June 3 snap presidential election.
Lee, who represents the opposition Democratic Party of Korea, is leading opinion polls with 45% support, ahead of conservative rival Kim Moon-soo at 36%, Reuters reported, citing a Gallup Korea poll released Friday. The election follows the impeachment and removal of President Yoon Suk Yeol, who declared martial law briefly in December, triggering a constitutional crisis.
Calling for mutual respect between Seoul and Washington, Lee questioned whether the timeline “set by one side should be bound to” and proposed forming a task force to address the nation’s slowing economy if elected.
“I will swiftly prepare immediately actionable economic measures and actively respond to the domestic economic slowdown with the determination to fight the recession,” Lee said, per Reuters.
He also pledged to seek peace on the Korean peninsula while maintaining strong defence ties with the US. Criticising the former president’s hardline stance on North Korea, Lee said it had escalated tensions and hurt the economy.
“We should maintain and strengthen our powerful defence capabilities, military power and strengthen the South Korea-U.S. security alliance but find a path toward dialogue, cooperation, communication and coexistence where possible,” Reuters quoted him as saying.
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