Economics
South Korea President-Elect Pledges ‘Private Sector-Led’ Growth
- Yoon Suk-yeol outlines right-leaning agenda after election win
- Seeks ‘pivotal role’ advocating for global peace, prosperity
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South Korea President-elect Yoon Suk-yeol pledged after his narrow election victory to support a “private sector-led” economy, outlining a right-leaning agenda that included a sterner response to provocations from North Korea.
The prosecutor-turned-politician vowed to boost growth and create jobs in Asia’s fourth-largest economy, where rising home prices and a widening wealth gap have fueled voter discontent. Yoon’s private-sector approach contrasted with his opponent, former Gyeonggi Governor Lee Jae-myung, who had sought to make South Korea the region’s first nation to pay a universal basic income.