Hello! Today, I want to share a somewhat special story: the story of Lee Jae-myung, the new captain steering the massive ship called ‘Republic of Korea.’ It has been 100 days since he took the helm. The captain gathered all the crew (the people) on deck to review the past voyage and unfolded the navigation chart for the vast ocean ahead. This report is a record of that passionate dialogue and a precious compass to gauge the direction our ship will take.
Part 1: 100 Days of Voyage, Steering the Course Through the Storm
The First 100 Days: A Time of ‘Recovery and Normalization’
Captain Lee first defined the past 100 days as a period spent with the mindset of “rebuilding the broken ship from the foundation,” a time of ‘recovery and normalization.’ His metaphor of performing ‘emergency CPR’ on our ship, which had been battered and weakened by rough seas during the previous voyage, conveys the urgency of that time.
But we did it brilliantly. We quickly released emergency funds to revitalize the stagnant onboard economy, and as a result, the crew’s consumer confidence hit its highest level in 7 years and 7 months. The KOSPI index, reflecting our ship’s value, planted its flag above 3,300 for the first time ever. Even in the vast ocean of diplomacy, we stopped at various ports like the G7 summit to engage with other ships, raising South Korea’s stature once again. In short, it was a time of breaking through the storm, restoring the ship’s balance, and normalizing the course.
Now, Toward a New Continent of ‘Leap and Growth’
The captain declared that the arduous task of ‘recovery’ is now complete. The remaining 4 years and 9 months will be a time of ’leap and growth,’ he emphasized. His words, “A ship that set sail without a transition team has now finally reached the real starting line,” were a declaration that the true voyage, colored by Captain Lee’s unique vision, is about to begin.
The core of the navigation chart he unveiled consisted of four points:
- Innovative Economy: Achieving ‘world-leading growth’ through cutting-edge technologies like semiconductors and artificial intelligence.
- Growth for All: His long-held dream of sharing the fruits of growth fairly among everyone.
- Confident Pragmatic Diplomacy: Shedding ideological shackles and sailing the world under the sail of national interest.
- Politics of Unity: Promising to be the ‘president for all,’ uniting the divided hearts of the crew.
Dividing the past as a time of ‘recovery’ and the future as a time of ’leap’ is a very clever rhetorical strategy. It frames the difficult issues of the previous administration as ‘past legacies to overcome,’ while attributing current positive signals entirely to the present government’s efforts. Moreover, bold policies like expanded fiscal spending and institutional reforms planned ahead are naturally packaged as ’the next logical step after overcoming the crisis.’
Part 2: Economic Doctrine, Raising a Giant Sail on the Sea of Growth
The longest part of the dialogue was undoubtedly about how to power the ’engine’ called the economy even stronger.
100 Trillion Won Wind: Investment for the Future
To the concerned question, “You’re going to borrow an additional 100 trillion won?” the captain responded with an interesting analogy: “If you have to sow seeds in a field but don’t have any, wouldn’t you borrow some to plant so you can reap a bigger harvest in the fall?” In other words, the current 100 trillion won is not debt but a ‘future investment’ for greater growth.
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He stressed that the debt-to-GDP ratio is more important than the absolute debt amount. Even with this investment, our debt ratio will be just over 50%, which is still very solid compared to other advanced nations whose ratios exceed 100%.
Breaking the Shackles of the ‘Korea Discount’
Why is our ship (the Korean stock market) always undervalued compared to its true worth? The captain traced the cause to ‘distrust.’ Not geopolitical risks, but an outdated practice and a system that fails to protect minority shareholders, fostering fears that “company funds might be embezzled anytime.”
The solution was simple and powerful: “Anyone caught manipulating stock prices will lose even their principal and be financially ruined.” This is a strong warning to market pirates and a firm promise to protect honest investors. By enforcing strict laws to set market rules straight, the plan is to channel money tied up in unproductive areas like real estate into the stock market, a productive engine.
Part 3: Diplomacy and Security, Navigating the Unpredictable Seas
The captain also presented a clear compass of ‘pragmatism’ for navigating the unpredictable seas of diplomacy.
North Korean Strait: The Resolve of ‘Strategic Patience’
He said it’s perhaps natural that North Korea is currently cold toward us. Therefore, rather than needlessly provoking North Korea, he showed faith that by steadily pursuing peace efforts, “a small opening will eventually appear.” He made it clear this is not ideological but the most realistic choice for the safety and economy of our ship.
Japan Route: The Wisdom of a ‘Two-Track’ Approach
The tricky relationship with Japan was reaffirmed with the ’two-track’ principle: firmly upholding principles on sensitive issues like historical matters, while keeping the door wide open for cooperation in areas like economy and culture. This is wise navigation.
U.S. Alliance: A Partnership Without Backdoor Deals
Regarding the U.S., he firmly stated, “We will never make decisions against South Korea’s national interest.” This expresses confidence in negotiating as a proud, equal partner without sacrificing our interests under the name of alliance.
Part 4: Domestic Reform, Excising Old Ailments Within the Ship
The captain drew the reform sword against chronic problems inside the ship, especially targeting the two massive institutions of prosecution and media.
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Prosecution Reform: A Mission from the Victim’s Perspective
He began by introducing himself as “the biggest victim of the prosecution.” This elevates the necessity of reform beyond legal debate to a moral dimension of ‘realizing justice.’ Like his saying, “You shouldn’t break the jar just because you hate the maggots,” he promised to carefully gather opinions from all sectors over a year to conduct the most precise and complete surgery.
Media Reform: The Scalpel of ‘Punitive Damages’
He shared personal pain by mentioning his son regarding media issues. His solution is clear: anyone who maliciously creates ‘fake news’ that destroys a person’s life, regardless of source, will face heavy punitive damages. He emphasized this is not media suppression but removing a malignant tumor that sickens the community with false information.
Using personal experience as a driving force for public reform is his unique strategy. It strongly rallies supporters but is also a double-edged sword that provokes fierce opposition.
Part 5: Communication, The Captain’s Voice Reaches All Crew Members
The format of this press conference itself sent a powerful message.
Sitting just 1.5 meters away from reporters without a podium, answering 22 questions fluidly over 150 minutes—far beyond the scheduled 90—showed his willingness to drop authority and communicate directly. His candid, straightforward style with phrases like “Let’s speak frankly” and “They complain whether I change or not” rejected traditional political norms and connected directly with the public’s language.
This is a sophisticated strategy for the captain as an individual to build direct and emotional bonds with all crew members without intermediaries like media or parties. The president himself becomes the ship’s most powerful ‘speaker.’
Part 6: Comprehensive Analysis, Where Is This Voyage Heading?
Through the 100-day voyage record, we confirmed the identity of the ‘Lee Jae-myung ship’ and the huge challenges ahead.
The Core of ‘Lee Jae-myung-ism’: Active State Interventionism
His governing philosophy can be summarized as ‘active state interventionism.’ Rather than leaving things to the market or existing order, he strongly believes that a powerful state actor must directly intervene to open economic channels and cleanse society’s accumulated grime.
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Three Massive Waves Ahead
Our ship must overcome three huge waves:
- Economic Gamble: Will the 100 trillion won wind lead us to a new continent or tear our sails? The battle against time to produce tangible results for the people has begun.
- Quagmire of Reform: Prosecution and media reforms are necessary surgeries but risk bleeding too much and exhausting government momentum.
- From Declaration to Execution: The impressive navigation chart is now laid out. But what matters is not the map’s picture but actually reaching the destination.
The 100-day mark is both the end of celebration and the sounding of the horn signaling the start of a serious test. Now, Captain Lee and the Republic of Korea ship are moving beyond the era of declarations into the long sea of proof.