President Lee Suggests Lowering Party Deposit Fees for Youth Candidates

South Korean President Lee Jae-myung has called for a reconsideration of the significantly increased deposit fees required for candidates seeking leadership roles within the Democratic Party.

Lee suggested on X (formerly Twitter) that the party should consider returning the deposit fees to their previous levels. He stated, "The fact that one cannot run for election because of money is not only sad but also increases the incentive for corruption." He recalled former President Roh Moo-hyun's political reform, which aimed to create elections that do not require substantial personal funding, a principle Lee credited for enabling his own political career.

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The fact that one cannot run for election because of money is not only sad but also increases the incentive for corruption.

The Democratic Party recently announced new deposit requirements for its upcoming national convention. Candidates for party leader and supreme council must now pay a 20 million won deposit for the preliminary nomination, a substantial increase from the 15 million won for party leader and 5 million won for supreme council members in the previous convention. Further deposits are required to advance to the main nomination, bringing the total to 100 million won for party leader candidates and 50 million won for supreme council candidates.

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If former President Roh Moo-hyun's reform of 'election public financing' had not happened, I would not have even dreamed of a political career.

Lee expressed disappointment that the deposit amounts have been raised significantly, particularly for younger candidates, making it difficult for them to run. He noted that while incumbent lawmakers might have an easier time due to their existing political funds and salaries, those outside parliament, especially young individuals, face considerable financial burdens.

Addressing potential concerns about interference, Lee asserted his right as a party member to voice opinions on party affairs, citing current laws and party regulations. He concluded by reaffirming the government's commitment to creating a nation that offers hope to its youth.

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As a senior who overcame the walls of vested interests through countless challenges with the sorrow of having no money in my youth, I want to help promote the donation accounts of young candidates.