Vowing sweeping reforms as part of his presidential agenda, Hong said the June 3 election to fill a power vacuum following the impeachment of disgraced former President Yoon Suk Yeol earlier this month will be "not about a change in leadership, but a change in direction."
Hong positioned himself as the "most reliable candidate" with proven extensive experience, in contrast to Lee Jae-myung, the former leader of the main opposition Democratic Party (DP) and the current frontrunner in the presidential race, who faces "serious legal risks" with a slew of allegations.
In particular, he pledged to inject over 50 trillion won into high-tech industries and advanced technologies, such as artificial intelligence (AI), biotechnology and semiconductors, while also implementing deregulation and incentives to attract global investment.
He also stressed the need for South Korea to develop its own nuclear deterrent in response to North Korea's growing threats.
With the bid, Hong now joins a slew of presidential candidates including former Labor Minister Kim Moon-soo, five-term lawmaker Na Kyung-won, former party leader Han Dong-hoon, IT tycoon-turned-politician Ahn Cheol-soo, and former Incheon Mayor Yoo Jeong-bok.
With no clear favorite despite a flurry of hopefuls, the PPP plans to select its candidate by early May.
Meanwhile, Acting President and Prime Minister Han Duck-soo, who remains cautious amid calls for him to run for president, merely said during a Cabinet meeting earlier in the day that he will "faithfully fulfill my responsibilities."
There is widespread speculation that he may step in as a last-minute contender if no strong candidate emerges to compete against Lee.
reporter
Im Yoon-seo
lyseo0330@ajupress.com
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