Evaluation of Lee Jae-myung's First Year in Office Highlights Economic Growth and Political Challenges

As President Lee Jae-myung approaches his one-year anniversary in office, elders from various fields have positively assessed his communication with the public and improved economic indicators. However, they expressed disappointment over cooperation with opposition parties and the deepening polarization, urging the administration to address these issues during the remainder of its term.

On May 31, Aju Economy gathered evaluations from four prominent figures in politics, economics, diplomacy, and society regarding the government's performance since its inception.

Jeong Dae-cheol, chairman of the Constitutional Council, stated, "President Lee enjoys popular support. His frequent communication with the public is commendable," highlighting the administration's high approval ratings and communication skills. President Lee has engaged directly with citizens through town hall meetings and live broadcasts of cabinet meetings, receiving positive feedback for these innovative approaches.

Jeong emphasized that the president and the ruling Democratic Party need to make greater efforts to cooperate with opposition parties like the People Power Party. He remarked, "Currently, politics resembles a state of war," and noted that the lack of collaboration and integration in politics is primarily the ruling party's responsibility. He suggested, "The majority party should give and take to revitalize politics."
 

Joo Hyung-hwan, former Minister of Trade, Industry and Energy, acknowledged the challenges posed by trade pressures from the U.S. but praised the visible economic indicators, citing a $900 billion export figure, a 2.6% growth rate, and a KOSPI index of 8000, thanks to a booming semiconductor market.

However, he cautioned that the high exchange rates, inflation, and interest rates have severely impacted the economy, exacerbating polarization. He stressed the need for more stable macroeconomic management, advocating for targeted fiscal expansion while maintaining reasonable stability. He also called for a fundamental shift in industrial policy based on artificial intelligence to transform the industrial structure established during the heavy chemical industry era of the 1970s.

Opinions also emerged that the Lee administration has performed well in foreign affairs and security.
 

Yang Mu-jin, chair professor at the University of North Korean Studies, remarked, "The administration has pursued practical diplomacy centered on national interests. The U.S.-Korea alliance has helped maintain a balance in relations with Japan and China." He noted that the defense cooperation with the U.S. has been effective, stating that the U.S. tariff pressures are not unique to South Korea but affect the entire world, thus downplaying their significance.

He added that the ongoing war between Russia and Ukraine and U.S. sanctions against Russia have limited South Korea's ability to restore relations with Russia, predicting that once the war concludes, it will only be a matter of time before relations are normalized.

Concerns have also been raised regarding the government's judicial and prosecutorial reforms, with some viewing them as excessive.
 

Kim Hyun, former president of the Korean Bar Association, expressed concern that the abolition of the prosecution office could hinder effective criminal investigations, significantly infringing on citizens' basic rights. He warned that the introduction of a law against judicial distortion could allow anyone to file complaints against judges and prosecutors, potentially jeopardizing the integrity of the judiciary and leading to political pressure.

He lamented that over the past year, the rule of law has deteriorated, judicial independence has been compromised, and the principle of separation of powers has been undermined. He emphasized that the separation of powers is crucial for protecting democracy and citizens' rights, urging legislative, judicial, and executive branches to exercise restraint to ensure citizens can live without fear.