[Editorial] As the Lee administration enters its second phase, its top national goals should be growth and unity

President Lee Jae Myung held a joint press conference for domestic and foreign media on the 8th to mark his first anniversary in office. He laid out his views in detail on the economy, real estate, security, diplomacy, and the shortage of ballots. By nominating Han Seong-sook, the Minister of SMEs and Startups, as a candidate for Prime Minister of South Korea on the occasion of his first year in office, Lee has effectively ushered in the second phase of his administration.
The nomination of Han as prime minister can be seen as a sign that the government will place greater emphasis on the economy, including the development of advanced industries, in future state affairs. It also carries the meaning of highlighting the economic and social role of women, as she would be the second female prime minister candidate in the country's history. Now, based on the experience of the past year, Lee should renew state affairs through a Cabinet reshuffle if necessary, as he said at the press conference, and lead livelihoods and the economy in a more constructive direction.
There are many pending issues, but for the public, the economy is the most important. South Korea's economy has recently been mired in a prolonged slump in domestic demand and has continued to stagnate. At a time when concerns about entrenched low growth are mounting, it is a great relief that semiconductors have entered a boom cycle and are helping revive the economy.
No one knows how long the semiconductor boom will last, but the role of advanced industries in the economy will only grow larger. Looking at Europe and Japan, where the semiconductor industry has fallen behind, it becomes clear how well the government and companies have done in nurturing semiconductors early on as a key sector.
While also reviving traditional manufacturing, whose competitiveness is weakening, the Lee administration must mobilize all national capabilities to foster cutting-edge, high-value-added industries such as semiconductors, artificial intelligence (AI), robotics, and bio-pharmaceuticals. It is chilling to imagine where the South Korean economy would stand today without Samsung Electronics and SK hynix.
Businesses and the government are the two engines driving the economy together. If either side runs into trouble, the economy can slow down or, in severe cases, even collapse. Only when the government and companies move in step and cooperate can the economy advance smoothly toward the single goal of sustained growth. Without companies, there is no nation and no economy. Businesses are not targets for attack or suppression, but economic actors that should be supported and cared for.
Not only Samsung Electronics and SK hynix, but companies across South Korea are working tirelessly to expand overseas markets and boost exports despite difficult conditions. What the state should do is ease the burdens these companies face and present a clear direction through broad policy vision.
The June 3 local elections have just ended, and local government heads and council members have begun their new terms. The National Assembly of the Republic of Korea will also welcome 14 newly elected lawmakers, and we hope they will bring fresh energy. The country cannot be run by the central government alone. Local governments and the National Assembly must work well together for state affairs to run smoothly.
Political issues that needed correction over the past year have now been largely sorted out. After the election, an unexpected source of conflict emerged in the form of a shortage of ballots, and it should be addressed through a swift investigation and institutional reform. As reflected in the public sentiment shown in the election, President Lee and the ruling Democratic Party of Korea (DPK) should now refrain from one-sided dominance and pursue a politics of unity through cooperation with the opposition party.
We hope President Lee's promise to open a new era of the K-Initiative with a strong growth strategy will be kept. At the same time, there can be no progress without innovation and reform. It is time to raise the banner of reform in areas that need it, including labor and education.