Lee Announces Bid for Presidency
By Kim Sue-young
Staff Reporter
Former Seoul Mayor Lee Myung-bak of the main opposition Grand National Party (GNP) Thursday formally announced his presidential candidacy, promising to boost the country's economy.
The announcement came amid intensifying internal feuding over primary rules to pick the party's presidential candidate to run in the Dec. 19 election.
``I will compete with rivals through action, not words. I would like to be a president for the people,'' declared the front-runner in the presidential race during a press conference at the party headquarters in Seoul.
``Whether Korea is to make a leap or stagnate will be determined in five years. I will make Korea a top-class country with creative leadership,'' Lee, 66, said after registering his candidacy with the National Election Commission.
Earlier, Lee, a former CEO of Hyundai Engineering & Construction, presented what he called a ``747 plan'' as a campaign pledge.
He pledged to achieve seven percent economic growth, increase per capita income to $40,000 and make the nation the seventh largest economy in the world. He said labor reform, budget saving and his leadership will contribute one percentage point, each, to the current 4 percent economic growth rate.
He has also promised to construct a cross-country canal to connect the nation's major northern and southern rivers, which would then connect with another one to be built in North Korea.
He stressed that the canal project could help cut logistics costs approximately by one-third and implement balanced regional development.
During his visit to Germany earlier this year, Lee visited the gigantic Rhein-Main-Donau Kanal and met experts in canal construction to discuss the feasibility of his project.
During a trip to Japan a month later, Lee presented another pledge for constructing international science and business cities.
Stressing the importance of science, he said Korea could obtain a new growth engine by building those cities.
Lee was elected to serve as Seoul's mayor from 2002 to 2006 on the GNP ticket.
During his tenure, he gave people a ``can-do'' image through the restoration of the Cheonggyecheon stream and overhauling the public transportation system.
Before his public service, Lee, a Christian, got the nickname ``bulldozer'' while he worked as CEO of Hyundai Group. Lee is leading in major opinion polls as he commands support from conservatives, and middle-of-road voters. After peaking at 45 percent, his current approval rating hovers 35 percent. This has alerted his campaign strategists.