<p>Seoul: South Korea's presidential candidates faced off in their first TV debate on Sunday evening, ahead of a snap election on June 3 to choose a successor to former President Yoon Suk Yeol who was impeached over his short-lived martial law declaration in December.</p><p>Sunday's debate, the first of three TV debates scheduled over the next two weeks, focused on how to revitalise the struggling economy, one of the hot-button election issues.</p><p>Lee Jae-myung, the main opposition Democratic Party's candidate and the frontrunner in the race, came under a flurry of questions in the heated, rapid-fire first debate.</p><p>He advocated more investment in artificial intelligence, protection for unionized workers, a 4-1/2-day working week and putting South Korea's interests first in responding to U.S. tariffs.</p>.UK judge notes 'confidential impediment' in Nirav Modi extradition case.<p>There was no need for Seoul to rush to reach a trade agreement with Washington, Lee said.</p><p>"I think we should prepare well for this situation delicately and competently," Lee added, also arguing South Korea needs to nurture high-tech and renewable energy industries to overcome low economic growth.</p><p>"We will focus on developing so-called sovereign AI so our people can at least use something like ChatGPT for free like an electronic calculator," he said.</p><p>Kim Moon-soo, candidate for the conservative People Power Party, vowed to create jobs and deregulate to foster businesses.</p><p><strong>Political turmoil</strong></p><p>Asia's fourth-largest economy contracted in the first quarter as exports and consumption stalled, amid fears over the impact of Washington's aggressive tariffs and political turmoil at home.</p><p>South Korea has begun trade talks with the United States and is seeking a waiver from the tariffs. U.S. President Donald Trump slapped 25% tariffs on South Korea in April, after which Seoul was one of the first countries to hold face-to-face talks with Washington, following in the footsteps of Japan.</p><p>Lee has vowed to raise AI investment to 100 trillion won ($71.5 billion) and offer a production tax credit of up to 10% for semiconductors manufactured and sold domestically.</p><p>Kim has pledged to create a government agency dedicated to innovating regulations and to invest more than 5% of the budget in research and development.</p><p>Lee holds a lead with 51% support in the latest Gallup Korea poll released on Friday, with Kim trailing far behind at 29%.</p><p>Former President Yoon was ousted last month over his short-lived imposition of martial law on December 3, stoking political turmoil and triggering the election.</p><p>Lee called earlier in the day for constitutional reform to allow a four-year, two-term presidency and a two-round system for presidential elections through a referendum.</p><p>South Korean presidents currently serve a single five-year term.</p><p>He also vowed to curb the presidential right to declare martial law and hold to account those responsible for the December 3 declaration.</p><p>"We must gather the people's strength to root (them) out and strictly hold (them) accountable," he told a press briefing. </p><p><em>($1 = 1,398.1200 won)</em> </p>
<p>Seoul: South Korea's presidential candidates faced off in their first TV debate on Sunday evening, ahead of a snap election on June 3 to choose a successor to former President Yoon Suk Yeol who was impeached over his short-lived martial law declaration in December.</p><p>Sunday's debate, the first of three TV debates scheduled over the next two weeks, focused on how to revitalise the struggling economy, one of the hot-button election issues.</p><p>Lee Jae-myung, the main opposition Democratic Party's candidate and the frontrunner in the race, came under a flurry of questions in the heated, rapid-fire first debate.</p><p>He advocated more investment in artificial intelligence, protection for unionized workers, a 4-1/2-day working week and putting South Korea's interests first in responding to U.S. tariffs.</p>.UK judge notes 'confidential impediment' in Nirav Modi extradition case.<p>There was no need for Seoul to rush to reach a trade agreement with Washington, Lee said.</p><p>"I think we should prepare well for this situation delicately and competently," Lee added, also arguing South Korea needs to nurture high-tech and renewable energy industries to overcome low economic growth.</p><p>"We will focus on developing so-called sovereign AI so our people can at least use something like ChatGPT for free like an electronic calculator," he said.</p><p>Kim Moon-soo, candidate for the conservative People Power Party, vowed to create jobs and deregulate to foster businesses.</p><p><strong>Political turmoil</strong></p><p>Asia's fourth-largest economy contracted in the first quarter as exports and consumption stalled, amid fears over the impact of Washington's aggressive tariffs and political turmoil at home.</p><p>South Korea has begun trade talks with the United States and is seeking a waiver from the tariffs. U.S. President Donald Trump slapped 25% tariffs on South Korea in April, after which Seoul was one of the first countries to hold face-to-face talks with Washington, following in the footsteps of Japan.</p><p>Lee has vowed to raise AI investment to 100 trillion won ($71.5 billion) and offer a production tax credit of up to 10% for semiconductors manufactured and sold domestically.</p><p>Kim has pledged to create a government agency dedicated to innovating regulations and to invest more than 5% of the budget in research and development.</p><p>Lee holds a lead with 51% support in the latest Gallup Korea poll released on Friday, with Kim trailing far behind at 29%.</p><p>Former President Yoon was ousted last month over his short-lived imposition of martial law on December 3, stoking political turmoil and triggering the election.</p><p>Lee called earlier in the day for constitutional reform to allow a four-year, two-term presidency and a two-round system for presidential elections through a referendum.</p><p>South Korean presidents currently serve a single five-year term.</p><p>He also vowed to curb the presidential right to declare martial law and hold to account those responsible for the December 3 declaration.</p><p>"We must gather the people's strength to root (them) out and strictly hold (them) accountable," he told a press briefing. </p><p><em>($1 = 1,398.1200 won)</em> </p>