By Diplomacy Journal Lee Kap-soo

Newly-elected President Lee Jae-myung said at his inauguration ceremony held at the Rotunda Hall of the National Assembly on the morning of June 4, “We will turn the crisis of global economic and security environment transformation into an opportunity to maximize national interests through practical diplomacy centered on national interests.”

He also said, “Based on the solid ROK-U.S. alliance, we will strengthen ROK-U.S.-Japan cooperation and approach relations with neighboring countries from the perspective of national interests and practicality. We will broaden the horizons of diplomacy, raise our international standing, and expand the economic territory of the Republic of Korea.”

President Lee also said, “At this critical moment, we are facing a complex crisis that has accumulated like tangled threads in all areas, including people's livelihoods, the economy, diplomacy, security, and democracy,” adding, “We will start with restoring people's livelihoods and reviving the economy.”

President Lee said, “I stand here with an overwhelming sense of responsibility and boundless gratitude. The future is beckoning us. It is time to revive livelihoods that have been pushed to the brink, restore growth, and create a happy tomorrow for all.”

He continued, “It is time to restore security and peace, which have been reduced to tools of political strife; livelihoods and the economy, which have collapsed due to indifference, incompetence, and irresponsibility; and democracy, which has been destroyed by armored vehicles and automatic rifles. I promise the people that I will respond to the solemn command to bring hope to the deep and painful wounds and to the earnest desire to create a completely new country.”

President Lee particularly stated, “In accordance with the president's other message to achieve great unity regardless of who one supported in this presidential election, I will become a ‘president for all’ who embraces and serves all citizens.”

On the economy, Lee pledged to adopt a "pragmatic and market-oriented" approach to revitalize growth and foster advanced technologies, such as artificial intelligence and semiconductors.

"I will make a government that supports and encourages, not one that controls and manage," he said.

In regard to foreign policy, Lee emphasized pursuing "pragmatic" diplomacy centered on national interests to address challenges arising from the shifting economic and security landscape.

"We will strengthen South Korea-U.S.-Japan cooperation based on a solid Korea-U.S. alliance and approach relations with neighboring countries from the perspective of practicality and national interest," he said.

While underscoring the need for strong deterrence against North Korea's threats, Lee also left the door open to resuming dialogue with the North.

"We will open channels of communication and pursue dialogue and cooperation with the North to build lasting peace on the Korean Peninsula," he added.

The ceremony was attended by the heads of the three branches of government, Cabinet members and lawmakers. No foreign dignitaries have been invited.

Prior to the event, Lee paid tribute at Seoul National Cemetery to honor fallen service members.

A formal inauguration ceremony will be held on July 17 in conjunction with the Constitution Day commemoration, the presidential office said in a release.