Lee Nak-yon, a former chairman of the main opposition Democratic Party of Korea (DPK) and co-chairman of the big tent political group, Reform Party, withdrew his agreement to join the coalition camp on Tuesday, citing a failure by the members of the group to integrate.
The Reform Party, a big-tent political party comprised of politicians who broke away from their former parties, held its inaugural Supreme Council meeting, Tuesday, promising that it will end “the meaningless competition” between President Yoon Suk Yeol and main opposition Democratic Party of Korea (DPK) Chairman Rep. Lee Jae-myung.
A debate has resurfaced on whether to continue offering free subway rides for senior citizens in the lead-up to the April 10 general elections. A new conservative party is considering replacing the free rides with vouchers due to widening deficits caused by a rapidly aging society.
The ratio of middle-aged and elderly people who remain unemployed after retirement has increased by more than 10 percentage points over the past nine years due to the country’s low birthrate and aging society, according to a state-run agency, Wednesday.
The idea of new political parties forming a so-called “big tent” is gaining traction, as heavyweights who broke away from the ruling conservative People Power Party (PPP) or the liberal main opposition Democratic Party of Korea (DPK) are joining hands to create a coalition to challenge the prevailing dominance of rival parties, signifying a pivotal shift in the political landscape.