SEOUL, JUN 4 : South Korea\u2019s new President Lee Jae-myung vowed Wednesday to restart dormant talks with North Korea and bolster a trilateral partnership with the U.S. and Japan, as he laid out key policy goals for his single, five-year term.<\/p>\n\n\n\n
Lee, who rose from childhood poverty to become South Korea\u2019s leading liberal politician vowing to fight inequality and corruption, formally began his term earlier Wednesday, a day after winning a snap election that was triggered in April by the removal of then-President Yoon Suk Yeol over his ill-fated imposition of martial law late last year.<\/p>\n\n\n\n
In his inaugural address at the National Assembly, Lee said that his government will deal with potential North Korean aggressions with \u201cstrong deterrence\u201d based on the solid South Korea-U.S. military alliance. But he said he would \u201copen a communication channel with North Korea and establish peace on the Korean Peninsula through talks and cooperation.\u201d<\/p>\n\n\n\n
He said he\u2019ll pursue pragmatic diplomacy with neighboring countries and boost trilateral Seoul-Washington-Tokyo cooperation based on the robust South Korea-U.S. alliance.<\/p>\n\n\n\n
“Through pragmatic diplomacy based on national interests, we will turn the crisis posed by the major shift in global economic and security landscapes into an opportunity to maximize our national interests,\u201d Lee said.<\/p>\n\n\n\n
It was unclear whether Lee\u2019s election would cause any major, immediate shift in South Korea\u2019s foreign policy. Lee, previously accused by critics of tilting toward China and North Korea and away from the U.S. and Japan, has recently repeatedly stressed South Korea\u2019s alliance with the U.S. as the foundation of its foreign policy.<\/p>\n\n\n\n
The toughest external challenges awaiting Lee are U.S. President Donald Trump\u2019s tariff policy and North Korea\u2019s advancing nuclear program. But experts earlier said whoever becomes president can\u2019t do much to secure major progress in South Korea\u2019s favor on those issues.<\/p>\n\n\n\n
During his inauguration speech, Lee didn’t directly mention trade issues with the U.S.<\/p>\n\n\n\n
Lee said revitalizing a slowing domestic economy would be his top priority and that his government would immediately launch an emergency task force to wage a \u201chead-on battle\u201d against the threats of recession. He also promised more aggressive government spending to help spur economic activity.<\/p>\n\n\n\n
South Korea\u2019s central bank cut its key interest rate and sharply lowered its growth outlook for 2025 to 0.8%, as it moved to counter U.S. President Donald Trump\u2019s tariff hikes and weak domestic demand worsened by recent political turmoil.<\/p>\n\n\n\n
Lee\u2019s term began immediately without the usual two-month transition period after the National Election Commission formally confirmed his election victory.<\/p>\n\n\n\n
In a telephone call with Joint Chiefs of Staff chairman Kim Myung-soo, Lee asked the military to closely monitor North Korean moves and maintain a solid readiness based on the combined South Korea-U.S. military alliance, according to local TV footage.<\/p>\n\n\n\n
Lee later visited the national cemetery in Seoul to pay respects to late Korean leaders, patriots and war dead who are buried there.<\/p>\n\n\n\n
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