Former Democratic Party leader Lee Jae-myung has officially announced his candidacy in the June 3 presidential election.

Lee declared his presidential bid in a documentary-style video on Thursday, saying he wants to build a “real” South Korea together with the people. 

Identifying economic polarization as the core cause of the social conflicts that arose during former President Yoon Suk Yeol’s term, Lee proposed large-scale government investment to reinvigorate the economy. 

Lee said the nation has greater wealth than it did before but that its wealth is concentrated too heavily in one place.
 
In the video, Lee presented a new vision for the nation, calling it the “K-initiative” and promising to explain it in detail on Friday.

He said the main idea of his vision is that the resilience and potential of South Koreans, who have consistently turned adversity into stepping stones toward progress, can overcome even the former president’s insurrection and create a new South Korea that leads the world.