Democratic Party(DP) lawmaker Lee Nak-yon officially declared his candidacy in the election for the ruling party’s new leader, to be held at a party convention in August.

In a news conference Tuesday, Lee made the announcement, saying he must step up to take on the historic responsibility of getting the nation through crisis.

Lee said Korea is facing four major challenges at the moment - COVID-19, the recession, inter-Korean tension and various social problems such as the low birthrate and widening wealth gap. 

To address these concerns, he promised legislative efforts to expand social safety nets, create jobs and reform politics and state agencies.

He also proposed launching bipartisan consultations with the opposition camp to gather wisdom on issues related to public livelihood and Korean Peninsula peace.