President Lee Jae-myung said on the 18th that he has "no intention whatsoever of serving a second term," personally ruling out a constitutional amendment that would allow consecutive terms. On the contentious appointment of Justice Minister nominee Kim Seung-won, he was cautious, saying he "has not reached a final conclusion."
On his declining approval rating, Lee lowered his posture, saying it was "all because of my own shortcoming," and sought to reassure his base, asking supporters to "set aside suspicions that we are retreating on reform."
Speaking at a press conference at the Blue House the same day, Lee dismissed a constitutional amendment for consecutive terms while asking the National Assembly to delete provisions on the transfer and disposition of existing indictment cases from a special counsel bill on fabricated indictments. He left room for further action, however, on allegations of excessive investigations and indictments under the previous government, saying "a special counsel investigation is needed to establish the facts."
He took a modest tone on appointment controversies. On the nominee Kim, he said he would "decide carefully, taking into account public expectations and other factors." He also signaled plans to review the personnel vetting system. At the same time, addressing concerns over a retreat on prosecution reform, he repeatedly stressed the principle of separating investigation from indictment and his commitment to completing the reform.
On livelihood and economic policy, he reaffirmed his existing stance. To normalize the property market, he emphasized expanding supply and swiftly implementing regulatory and tax measures. On the introduction of single-stock leveraged exchange-traded funds (ETFs), he acknowledged that "there were shortcomings," but explained that it was "a policy that took into account the need to stabilize the foreign exchange market and to channel investment into the domestic market."
On the Strait of Hormuz, he made clear there would be "no troop deployment that involves or intervenes in the war." On investment negotiations with the United States, he said "national interests must not be undermined," adding that talks would continue on the basis of commercial rationality.
Assessments from the rival parties diverged. The ruling Democratic Party of Korea said doubts over the withdrawal of indictments and a constitutional amendment for consecutive terms had been resolved, and that it had confirmed his commitment to livelihood issues, reform and unity. Rep. Yoon Kun-young, considered close to former President Moon Jae-in, also said he "felt reassured." The opposition People Power Party, by contrast, criticized the remarks, saying "the second term, the appointments and the contrition were all excuses, not promises."
