Japan is watching South Korea’s presidential race with cautious optimism as Democratic Party candidate and presidential front runner Lee Jae-myung signals a potential shift towards closer trade and security ties with Tokyo – though analysts warn he could fall back on the anti-Japan playbook that has long energised his political base.
Lee, who polls indicate is the leading contender ahead of June’s snap election, has recently issued a flurry of remarks supportive of economic solidarity with Japan, a stance some in Tokyo interpret as pragmatic recognition of shifting dynamics in the region, particularly amid tensions between the United States and China.
On May 8, Lee told reporters in Seoul that he “completely agrees” with a proposal put forward by Chey Tae-won, chairman of the SK Group conglomerate and head of the Korea Chamber of Commerce and Industry, for economic solidarity with Japan as a counterpoint to global “rule-setters” such as the US and China.
Chey has been a vocal advocate for the creation of an economic trading bloc similar to the European Union that unites South Korea with Japan and nations from Southeast Asia.
Lee reinforced that support the following day with a written comment to a forum on regional security and economic challenges, chaired by a member of the Democratic Party, in which he described Tokyo as a valuable partner.
