Park pledges to adopt digital currency, Oh seeks to create 'regulation-free zone'

In the left photo, Park Young-sun, ruling Democratic Party of Korea's candidate for Seoul mayoral by-election, listens to citizens during a campaign near Wangsimni Station, Seoul, Tuesday, while in the right photo, Oh Se-hoon, the candidate from the main opposition People Power Party, speaks in a plaza near Yeongdeungpo Station, Tuesday. Joint Press Corps

• Published Apr 1, 2021 4:44 PM KST
• Updated Apr 1, 2021 8:20 PM KST

Rival candidates in mayoral by-election promise to make Seoul global city

By Jung Da-min

With just a few days left before the April 7 by-elections, the competition among the candidates representing different parties is heating up. Attention is especially focused on the fight between the rival candidates of the ruling and main opposition parties for the Seoul mayoral by-election, which is considered a barometer of public opinion for the March 2022 presidential election.

Park Young-sun of the ruling Democratic Party of Korea (DPK) and Oh Se-hoon of the main opposition People Power Party (PPP) have engaged in fierce campaigning, which has often involved mudslinging. However, this has led to a lack of promotion of their policy promises.

The pledges from each camp are mostly similar in their goals. To list a few, both candidates have promised to make the capital a global economic hub; to adopt women-friendly policies; and to make the city eco-friendly by reducing waste and promoting new renewable energy sources.

But they differ in the details of how to achieve such goals. Here are several differences to note.

Making Seoul global economic hub

To achieve the goal of making Seoul a global economic hub, Park has pledged to actively introduce digital technologies in the fields of artificial intelligence, 5G networking, block chain and big data. She said she aims to make Seoul a global financial hub which could beat out Hong Kong.

Park especially vowed to create a digital currency called the KS-Coin and establish a block chain system in which the KS-Coin can be used.

According to Park's policy pledges, she would also be committed to fostering new innovative industries based on a “protocol economy” system, whereby individuals or groups can participate in economic activities with their digital assets on an open platform and earn rewards according to their contributions. Park said she would also promote a “subscription economy,” a new business landscape where customers pay a fee for regular access to a product or service.

Expressing confidence that she will maximize the competitiveness and potential of Seoul to make it a global economic hub with her experience gained serving as the Moon Jae-in government's SMEs and startup minister, Park also vowed to support global startups based in Seoul through various support policies.

On the other hand, Oh has also expressed confidence in pushing ahead with policies to develop Seoul into a global economic hub, with his experience of formerly serving as the mayor of the city from 2006 to 2011.

In his policy pledges, Oh said he would establish a “regulation-free zone” in which businesses or investors can get support packages for financing and taxation.

Oh's economic policy pledges are more focused on nurturing start-ups, including providing step-by-step support to help start-ups become unicorn companies. He said he would establish an “innovative networking” system in which accelerators, local institutions such as district administrations or local universities, and financial institutions cooperate to provide tailored policy support to each start-up. Oh said he would also establish a new business-related network with foreign embassies here to help local businesses gain access to the global market.

Oh also seeks to cooperate with the Korean Sports and Olympic Committee to host the 2032 Olympics in Seoul to boost the local economy, by promoting the city's image of a cultural as well as a technical hub. He said hosting Olympics would offer new opportunities for local tourist industries, adding he would help create a new model for the MICE (meetings, incentives convention and exhibition) industry by connecting it with medical tourism.

For women-friendly Seoul

The issue of women's rights and gender equality has been highlighted in the by-elections, as the mayoral posts of the country's two major cities, Seoul and Busan, have remained vacant following the suicide of former Seoul Mayor Park Won-soon and the resignation of former Busan Mayor Oh Keo-don in April after they faced multiple sexual harassment allegations, respectively.

Such a situation is unfavorable to Park as both Park Won-soon and Oh Keo-don were DPK members and they were to blame for the by-elections taking place.

But Park Young-sun says she is the right person to be mayor of the capital, as she, as a female candidate, can be representative in drawing up policies to promote women's rights. She said she would create a deputy mayor position occupied by a woman.

Promoting her image as a mother and a career woman, Park vowed to protect women's rights with policies including providing job training programs aimed at preventing working mothers' suffering from taking a career break. Park also said she would increase safety measures for women such as by expanding the number of surveillance cameras in alleys.

The PPP's Oh has also vowed to promote women's rights with various policies including expanding public childcare programs and providing jobs with flexible working hours for women with children. Oh said he would help women in career breaks find new jobs by providing education and experience programs, especially new jobs in the Fourth Industrial Revolution.

Oh also said he would introduce a GPS-installed taxi service in which female users and their companions are provided with real-time information of routes to help them safely return home using the service. Oh also promised to expand the number of CCTVs and deploy security guards in more areas.

For eco-friendly Seoul

Both Oh and Park have also presented plans to make Seoul an eco-friendly city as part of its fight against global warming. They have especially put emphasis on a plan to reduce disposable products.

Oh said he would push ahead with a “zero waste Seoul” project to reduce the use of disposable packing materials. He said he would provide incentives for business owners which do not provide disposable packing materials; and also establish cooperative measures with Chinese cities to reduce fine dust coming from their surrounding areas.

Park also made a similar promise, saying she would designate 500 stores that cannot use disposable packing materials with financial support from the city government.

She also promised to introduce “vertical gardens,” where gardens and trail roads are built vertically and citizens can enjoy “micro-farming” while the greenery also makes the city's air cleaner.