The 21st presidential election of Republic of Korea is to be held on June 3, with early voting on May 29 and 30. A total of six candidates have officially registered.
This special feature focuses on key policy comparisons. Among the six candidates, the nominees of the three major parties with the most seats in parliament were selected: Lee Jae-myung of the Democratic Party of Korea, Kim Moon-soo of the People Power Party, and Lee Jun-seok of the Reform Party. Their main pledges are summarized across five key policy areas: science and technology, youth, regional decline, climate crisis, and social welfare.
The selection of these candidates is not intended to support or exclude any party or stance. The other registered candidates include Kwon Young-guk of the Democratic Labor Party, Hwang Kyo-ahn, and Song Jin-ho. Voters are encouraged to visit the official National Election Commission website for further information.
This feature aims to help voters compare candidates’ policies and ultimately gain insight into what Korea will look like after the election. The goal is not to express political views, but to help with understanding of each candidate’s vision. The order of candidates in the article follows their official ballot number.
Science and Technology
- Candidate Lee Jae-myung
Candidate Lee’s goal of national science and technology (S&T) is “a science powerhouse.” He promised a significant increase in R&D funding for S&T, and he identified 6 main national strategic technologies: AI, semiconductors, secondary batteries, bio & vaccines, hydrogen, and future mobility. For the AI sector, he plans to significantly increase the budget and strengthen the industrial foundation through measures such as a) attracting 100 trillion KRW in private investment, b) securing over 50,000 GPUs, c) constructing AI data centers, and d) launch of “AI for All” project.
He also promised to actively incorporate the voices of field researchers in R&D policies. Improving the treatment of STEM students as well as postdoctoral researchers and supporting the training of core talent were also part of his pledge. He plans to establish global joint research hubs and actively promote “regional autonomous R&D” so that local governments can set their own research and development investment directions.
- Candidate Kim Moon-soo
Candidate Kim plans to “enhance the status of scientists and engineers,” positioning scientific research at the core of national governance. He plans to allocate over 5% of the national budget to R&D and expand funding for national strategic technology R&D.
Furthermore, he proposed establishing a new Deputy Prime Minister for AI, S&T, and ICT. He aims to create a research-intensive environment by waiving several governance procedures for basic research. He also plans to strengthen regional S&T capabilities through increasing regional R&D investment. He will support outstanding industry-academia-research institute collaboration research, promoting commercialization in cooperation with companies.
To nurture STEM talent, he pledged to double scholarships for graduate students — benefiting 10,000 master’s and doctoral candidates — and support postdoctoral researchers who are studying at top institutions. Additionally, he aims to increase standard salaries for R&D personnel.
- Candidate Lee Jun-seok
Candidate Lee’s S&T strategy emphasizes creating a “free” research environment, focusing on reforming unreasonable regulations.
Among his pledges are “S&T Achievement Pension” and a “Fast-track for Scientists” under the “National Science Heroes Recognition Policy.” This includes providing up to 5 million KRW per month in pensions to scientists who achieve world-class research results, and fast-track immigration treatment for qualified researchers. To minimize talent outflow, he proposed increasing the salaries of high-performing researchers at government-funded institutions and flexible retirement policies. To stabilize the research environment, he advocates mandatory, continuous funding for R&D projects at universities and in industry.
Regarding AI, he supports regulatory reform to foster a private-sector-led industry. He stated that data regulations would be eased to enable active use of data without compromising personal privacy. He also pledged to bring a data center to Pohang.
Youth Support
- Candidate Lee Jae-myung
Candidate Lee pledged to create opportunities for young people to work freely, build assets, and live without worry. He introduced “Youth Tomorrow Savings Program 2” to support asset formation. He also promised to implement tailored financial counseling for youth, crypto-asset spot ETFs, and lower transaction fees for a safer investment environment.
For jobs, he would expand job search support funds and provide a one-time unemployment benefit for youth. Housing policies include tailored public housing, expanded eligibility for rent support and tax credits, and large-scale supply of public dormitories.
Regarding military service, he proposed mandatory recognition of service for public institution pay grades and full National Pension coverage during service. Other pledges include expanded childcare support for dual-income youth couples, first-time National Pension premium subsidies, and broader interest exemptions and income limits for income-contingent student loans.
- Candidate Kim Moon-soo
Candidate Kim aims to boost employment by encouraging large companies to implement open recruitment and training 200,000 youths in AI and 100,000 in trade. He plans to support youth startups and establish “AI Youth Startup Villages” nationwide. For housing, he proposed the “3·3·3 Youth Housing” policy, offering housing support for three years each after marriage, the birth of the first child, and the second child, by supplying 100,000 homes annually.
To ease educational costs, he would expand loans for students and provide new benefits like grants, savings deductions, and special accounts for working youth. He also wants to incorporate youth voices in the pension reform and is considering ways to ensure sustainability. For military service, he supports the military service bonus point system and introducing an optional service path for women. He will also promote recognition of military skills in society through career transition programs, certification-linked training, and academic credit systems.
- Candidate Lee Jun-seok
Candidate Lee’s youth policy centers on fairness and efficiency, aiming to provide equal opportunities and a streamlined military system. His signature pledge is a starting fund offering up to 50 million KRW per quarter, up to a total of 500 million KRW — at a low interest rate of 1.7%, with a flexible repayment policy. This policy is for marginalized youth such as high school graduates and college dropouts who are in the blind spots of the current policies.
He also proposed selecting military officers from enlisted soldiers by integrating basic military training and commissioning top performers. Those who serve faithfully would receive full tuition support for university or graduate school proportional to their service, and would be supported in returning to academia through flexible service periods.
Moreover, current university students could postpone their military service for up to three years after basic training, ensuring smoother alignment between education and military obligations.
Regional Decline
- Candidate Lee Jae-myung
On May 18, candidate Lee stressed the need for region-led growth and balanced national development. He outlined a “5 Mega-Regions and 3 Special Self-Governing Provinces” strategy, focusing on five major regions and three states – Jeju, Gangwon, and Jeonbuk.
The plan aims to transform the Daegyeong Region into a hub for advanced industries such as secondary batteries, AI robotics, auto parts, and textiles. Pohang will be developed as a hydrogen, steel, and advanced materials zone, with support for hydrogen-based steel production.
He also pledged to expand Pohang’s port to connect to the Arctic route and build the Daegu-Gyeongbuk Grand Circular Railway to enhance accessibility.
To reduce the dominance of the capital region in higher education, he proposed creating “10 Seoul National Universities” and establishing the RISE system to foster collaboration between national and private universities.
- Candidate Kim Moon-soo
Candidate Kim proposes expanding the Seoul-centered Great Train eXpress (GTX) to the five major regions across Korea, building a nationwide express rail network aimed at promoting balanced development. Alongside GTX, he plans to introduce metropolitan and urban rail systems, and expand transport, education, and healthcare infrastructure to improve long-term livability.
Based on the five major metropolitan regions, mega-city zones will be developed, with a “Mega Free Zone” system enabling local governments to request regulatory exemptions from the central government, such as for attracting businesses. He also plans to ease regulations on labor, business, education, and taxation to encourage new enterprises in regional areas. In Gyeongbuk, he envisions building a clean energy and advanced materials industrial ecosystem to make it a key hub for future industries and energy transition.
- Candidate Lee Jun-seok
Candidate Lee emphasizes expanding local autonomy under the principle of “responsibility,” with the aim of strengthening fiscal independence and fostering healthy competition among regions. As one of his pledges, he proposes granting local governments autonomy over corporate tax rates. This policy would reallocate 30% of national corporate tax revenue to local governments, allowing each region to set flexible rates, thereby promoting fair competition to attract businesses and stabilize local finances.
He also advocates delegating the authority to set the minimum wage to local governments. Instead of a centralized system, regional assemblies would set minimum wages, allowing adjustments up to 30% based on local living costs, including housing and consumer prices.
For the Gyeongbuk region, he plans to develop and pilot small modular reactor (SMR) technologies, with additional support for overseas commercialization and exports.
Climate Crisis
- Candidate Lee Jae-myung
Candidate Lee pledged strong action on the climate crisis and industrial decarbonization. To meet the 2030 greenhouse gas reduction target, he proposed revising the Framework Act on Carbon Neutrality and establishing a post-2035 emissions reduction roadmap.
Key pledges include phasing out coal power by 2040, expanding profit-sharing systems like the “Sun and Wind Pension,” and promoting solar panels for farms. On industrial transition, he vowed to boost domestic production and exports of carbon-neutral technologies, establish RE100 industrial zones, advance low-carbon processes in high-emission sectors, and increase climate tech R&D funding.
He also aims to promote new carbon-neutral industries and technologies and build a national “Energy Highway” by 2040. Environmental pledges include a national roadmap for plastic reduction, biodiversity restoration across the Korean Peninsula, and ecological restoration and water quality improvement of the four major rivers.
- Candidate Kim Moon-soo
Candidate Kim proposes expanding nuclear energy, targeting a 60% share in power generation, to ensure a stable electricity supply and support the AI industry. He plans to introduce six additional large-scale reactors.
He intends to use existing tidal and wind power facilities for renewables, including those on the west coast and at Sihwa Lake, Gyeonggi Province. He advocates for further investment and national support in nuclear construction and advanced energy technologies. Referring to COP28, he noted that over 30 countries supported tripling nuclear energy by 2050 as part of global carbon neutrality efforts.
To reduce industrial electricity costs, he proposes leveraging nuclear power, which costs only 50-60 KRW. Additionally, he plans to strengthen the integration of energy networks, enhance renewable energy utilization, and develop a distributed, region-based energy system supported by new technologies.
- Candidate Lee Jun-seok
Candidate Lee does not include specific climate crisis response policies among his pledges.
In debates held on May 18 and 23, he criticized what he called “environmental political correctness lacking scientific basis,” arguing that such approaches distort policy and harm the public. He pledged to establish a rational climate policy grounded in science, common sense, and international standards.
He stressed that Korea’s industries are highly sensitive to electricity costs and cautioned against ignoring the financial burden of renewable energy. He warned that energy policy, whether focused on phasing out or reducing nuclear power or expanding renewables, should not become an ideological policy. Highlighting the affordability of nuclear energy versus the high cost of renewables, he emphasized that a stable electricity supply is essential for future growth sectors like AI and that this is “impossible without nuclear power.”
Social Welfare
- Candidate Lee Jae-myung
Candidate Lee’s welfare pledges center around four goals: upholding workers’ rights, addressing low birth rates and population aging, improving economic stability, and building a society where basic needs are guaranteed.
Key labor policies include banning blanket wage contracts, introducing a wage distribution system to support “equal pay for equal work,” and promoting a 4.5-day workweek.
He proposes expanding public rental housing for newlyweds and enhancing public childcare services to combat declining birth rates. For an aging population, he supports aligning retirement age with pension eligibility and expanding health insurance to cover caregiving in nursing hospitals.
His broader goal is to build a “basic society” where the state guarantees essential living standards. To this end, he pledges to establish a life-cycle income security system and integrated community-based care.
- Candidate Kim Moon-soo
Candidate Kim proposes boosting the middle class by increasing income and assets to improve living standards. He plans to implement an inflation-linked income tax system and expand basic deductions to reduce the tax burden on the middle class.
He also proposes abolishing the inheritance tax between spouses and reforming the current estate tax into an inheritance acquisition tax system better suited to modern needs. To ease living costs, he supports transport fare relief through systems like K-One Pass and a review of real estate regulations.
He would establish a presidential task force for self-employed and small merchants and implement an emergency support package to support small businesses. This includes expanded financial aid, reduced utility costs, and tailored assistance to revitalize the people’s economy through economic recovery, social safety nets, and price stabilization.
- Candidate Lee Jun-seok
Candidate Lee proposes reforming the national pension system based on the principle of fairness, aiming to ensure that “you receive at least what you pay in.” His central pledge is to separate the financial management of the current and future pension systems.
Under this plan, contributions made before and after the reform will be managed separately. Unfunded liabilities in the current system will be addressed through automatic adjustment mechanisms reflecting demographic and economic changes, government subsidies, and reforms to overpayment-related policies such as deferred, forfeited, and supplementary contributions.
In the new pension system, contributions made after the reform will be deposited into individual pension accounts under a defined contribution model. Benefits will be directly tied to the amount paid, ensuring that contributors receive at least the value of their contributions.
