Presidential hopefuls lock horns over Trump trade response strategy

From left, presidential candidates Kim Moon-soo of the People Power Party, Kwon Young-kook of the Korean Democratic Labor Party, Lee Jun-seok of the Reform Party and Lee Jae-myung of the Democratic Party of Korea hold hands ahead of the first presidential debate in Seoul, Sunday. Yonhap

The specter of trade negotiations with the United States under President Donald Trump loomed large Sunday night as Korea's presidential hopefuls offered sharply divergent strategies during their inaugural televised debate.

Lee Jae-myung, the Democratic Party of Korea (DPK) candidate, advocated for a measured, interest-driven path in dealing with Washington, while Kim Moon-soo of the People Power Party championed a rapid, trust-based summit approach.

Lee said there was “no need to rush” into an agreement.

“The foremost principle in trade negotiations is to prioritize the national interest," he said. “We shouldn't feel compelled to concede just because the United States makes demands.”

He stressed the value of strategic patience, pointing to Japan and China as examples of countries that have successfully employed this approach.

“Japan, which initially demanded early negotiations, has taken a step back. China also set strong conditions before ultimately adjusting its position. We need to navigate this wisely, too,” he said.

Lee added that Korea should seize the moment to pivot away from export dependency and steadily increase domestic demand.

Kim took the opposite view.

“Trust is the most important thing,” he said. “President Trump and I already share a rapport. Based on that trust, we can reach a deal before the current waiver expires in July.”

He added, “Korea and the United States are allies sharing the values of freedom and democracy. We can use that trust to reach a good agreement.”

Kim emphasized that high-level diplomacy can bypass bureaucratic hurdles and lead to tangible economic outcomes.

Lee Jun-seok of the Reform Party framed the issue as a matter of strategic coherence, arguing that Korea should align its stance not only with the United States but also with other key allies.

“We need to strengthen trust with Washington and manage relations with Japan pragmatically,” he said. “Outdated political talking points are not how diplomacy works anymore.”

Kwon Young-kook of the Korean Democratic Labor Party (KDLP) took the most confrontational stance, denouncing Trump’s tariff policy as “economic aggression.” He warned against any concessions that could harm workers, saying, “These are not ordinary tariffs. They’re predatory and unjust.”

The two-hour debate, hosted by the National Election Commission, was aired live on SBS and marked the first of three official televised sessions ahead of the June 3 election. While the forum was officially focused on economic issues, trade policy — particularly how to deal with the Trump administration’s approach — emerged as a major point of contention among the four candidates.

In the earlier portion of the debate, candidates also presented their strategies for tackling Korea’s long-standing low-growth problem. Lee Jae-myung called for a state-led investment push, especially in artificial intelligence, green energy and regional innovation hubs. “We need to build an economy that grows with people at the center,” he said.

Kim emphasized deregulation, tax cuts and labor reform to boost private-sector hiring. He proposed creating a new regulatory overhaul agency and said, “The best way to beat low growth is to get government out of the way.”

Lee Jun-seok highlighted structural inefficiencies and a lack of innovation, drawing on his background in science and technology to argue that Korea needs leadership capable of navigating a tech-driven, global economy. Meanwhile, Kwon emphasized the issue of inequality, asserting that economic growth must go hand in hand with justice for workers and marginalized communities.

Two more debates — focusing on social and political issues — are scheduled for Friday and May 27.