Gov. Lee vows to grow Seoul into global economic capital

Encouraged by his continued victory in the ruling bloc’s presidential primary race, Gyeonggi Province Gov. Lee Jae-myung is looking to solidify his position by targeting voters in Seoul with a promise to make it a global city on par with cities like New York and London.

The leading presidential candidate for the ruling bloc said in a press conference Monday that he will turn Seoul into a global economic capital and a global center of business and finance. He envisions putting Yeouido, in western Seoul, at center stage.

“For the past 100 years, New York and London have been the center of global economy and culture, but for the next 100 years, I will have Seoul stand shoulder to shoulder with them and take the lead in this age of global turnaround,” Lee said.

Lee vowed to bring global financial institutions and corporate research centers to the city while forming a government-led task force on the initiative, attracting them to Yeouido, which already serves as a major financial district for the city.

He also vowed to use the National Assembly area as a cluster for entrepreneurship and scientific research if the parliament moves to Sejong under the greater capital relocation plan. Lee also has plans to form biotech and artificial intelligence clusters in some regions of Seoul.

To unleash Seoul’s potential as a cultural hot spot, Lee said he will provide support to grow Seoul into a leading destination for culture and tourism, starting with the fast completion of a K-pop performance center in Dobong-gu, northern Seoul.

Addressing the unstable housing market and soaring real estate prices, Lee promised to ensure that there is enough reasonably priced housing for vulnerable populations for more than 30 years. He is looking to tap into government-owned land to build affordable housing units.

The candidate added he would seek to shift entirely to electric motorcycles by 2030 while making infrastructural investment in hydrogen fuel cell and electric vehicles as part of his vision to achieve carbon neutrality and make Seoul eco-friendlier.

Lee’s lead in the presidential race has stayed strong despite his alleged involvement in a snowballing land development scandal in Seongnam, Gyeonggi Province.

The candidate on Sunday widened his lead in the Democratic Party primaries by winning a majority of votes in the second “superweek” of the race. His support currently stands at 54.9 percent of all votes cast, with rival Lee Nak-yon next at 34.3 percent.

It is expected that Gov. Lee will easily win the party’s ticket for the presidential election in March, if he maintains his lead. The primary race is scheduled to end in Seoul on Sunday.

The opposition bloc has fiercely attacked Gov. Lee for his alleged involvement in the land development scandal, accusing him of being its mastermind when he was mayor of Seongnam in 2015.

The case came to light just weeks earlier after it was reported that Gov. Lee allegedly gave business favors to Hwacheon Daeyu Asset Management in 2015 to help the firm take part in a land development project in Seongnam’s Daejang-dong when he was mayor of the city.

He is accused of unlawfully aiding Hwacheon Daeyu with capital of 350 million won ($296,000) to gain more than 400 billion won in dividends.

The allegation immediately prompted fierce criticism from the main opposition People Power Party, which accused Gov. Lee of abusing his power as mayor. Lee has denied all the allegations against him, saying he has never earned any personal profit from what he called a “fairly executed, exemplary project.”

The People Power Party has sought to use the scandal as an opportunity to drag down Lee’s support ratings, asking him to drop out of the race and give up his gubernatorial post.

Former Prosecutor General Yoon Seok-youl, a leading candidate for the opposition bloc, called for a special counsel investigation and a special parliamentary inquiry into Gov. Lee’s involvement.

But the case took an unexpected turn last week when it was reported that the 32-year-old son of Rep. Kwak Sang-do received unreasonably high severance pay after working full-time at Hwacheon Daeyu for seven years.

Kwak, an independent lawmaker who has since left the People Power Party, offered to give up his National Assembly seat Saturday on concerns that the allegations could harm the opposition bloc’s prospects ahead of the presidential election.

By Ko Jun-tae (ko.juntae@heraldcorp.com)