By Kang Hyun-kyung
Staff Reporter
Rep. Chung Mong-joon of the governing Grand National Party (GNP) will launch a think tank, the Haemil Research Institute, dedicated to researching political development and the global economic downturn.
The move was construed as his intention to kick off preparations for the 2012 presidential election.
An aide to Chung explained that Haemil refers to ``the clean, blue sky after a heavy rain shower'' in Korean, implying a promising future for the nation after successfully overcoming the current economic turmoil.
Experts at the institute will hold seminars and forums on a regular basis to provide lawmakers and policymakers with suggestions. They will also analyze and evaluate existing policies in domestic politics, foreign affairs and the economy, Chung's office said.
It also said 30 experts will be working with the institute and more specialists in internal and external affairs and defense areas will join in the future.
Political observers said Chung, a member of the GNP's decision-making Supreme Council, is seemingly setting his sights on the next presidential campaign with the launch of the think tank.
Chung, son of the late Chung Ju-yung, founder of the Hyundai Group, declared his bid for the 2002 presidential poll, but dropped out of the race after polls said his popularity went down sharply as the election neared.
He endorsed then-ruling party candidate Roh Moo-hyun as the next president, but withdrew his support a day before the election.
Chung's unexpected flip flop came after Roh said in a speech at a rally in downtown Seoul that there was a lot of presidential material in the then-ruling party, indicating Chung was not the only qualified candidate who could run in the next presidential election on the party's ticket.
Reports said Chung appeared to feel a sense of deep betrayal from Roh's remarks at the time.