South Korea's new president Lee Jae-myung vows economic growth

Likely increased fiscal spending under Lee seen supporting short-term growth

20250604 Lee and SK currency

South Korea’s new President Lee Jae-myung is expected to pursue economic growth through increased fiscal spending. (Source photo by Mayumi Tsumita) 

LISA KIM

SEOUL -- Newly inaugurated President Lee Jae-myung put a stronger economy and domestic stock market front and center of his campaign, acknowledging South Korea's slower economic growth as U.S. tariffs begin to hit exports.

To win over moderate voters, Lee, a left-leaning figure who once advocated for basic income, pivoted toward more pragmatic economic policies while campaigning, economists say.

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