Han Duck-soo Announces Resignation and Presidential Bid in Early May
As early as May 1, South Korea’s interim President Han Duck-soo is anticipated to step down, according to reports on April 28. Once initial agreements are reached in current trade talks with the U.S., he intends to relinquish both his positions of acting president and prime minister to officially kick off his presidential bid. Following suit, Chief Secretary for the Prime Minister Son Young-taek—who has been supporting Han—also tendered his resignation on April 28. It is widely believed within political spheres that Han will commence his presidential campaign right away following his departure.
A colleague near Han stated, "He is anticipated to submit his resignation and formal announcement sometime from May 1st through May 3rd." Initially considering an earlier departure later last week, Han apparently postponed his decision owing to critical progress in the ongoing U.S. trade negotiations. As things stand, the probable course of action seems to be tendering his resignation on May 1st followed by initiating his campaign on May 2nd. According to electoral regulations, government servants have until May 4th at the latest to relinquish their positions should they wish to contest for presidency.
Following his resignation, Han is anticipated to release a public announcement indicating his intention to run for office. An insider mentioned, "Han thinks that tackling major national challenges and fostering national cohesion are essential," further stating, "He is convinced that long-term economic progress necessitates political changes such as amending the constitution to move towards decentralization, which might involve reducing the duration of the upcoming presidential term to three years."
It is said that Han is contemplating the formation of a coalition government aligned with political entities that support constitutional changes. Additionally, he aims to create an extensive "big tent" alliance to counter Lee Jae-myung, which would include candidates from various parties such as the People Power Party nominee, Reform Party aspirant Lee Jun-seok, and Saemirea Democratic Party contender Lee Nak-yon.
Rumors of Han entering the presidential race have been circulating since his initial telephone conversation with U.S. President Donald Trump on April 8. During this call, Trump directly asked Han about his potential candidacy, which intensified these speculations. Nonetheless, several political analysts doubt whether Han will indeed choose to pursue the presidency.
Amid consistent advancements in the Korea-U.S. trade discussions, which included the previous week’s joint sessions involving both financial and commerce authorities, Han apparently determined that circumstances were ripe for him to step down from his current role and pursue candidature. An associate of Han mentioned, "Given the United States' indication towards finalizing trade agreements with the new South Korean government post-June 3rd elections, there aren’t significant hindrances to Han deciding to enter the race."
Han, with over five decades of service in economic and trade roles—including stints as the minister of trade negotiations, finance minister, and even prime minister during President Roh Moo-hyun’s tenure—believes this vast experience is vital for addressing present domestic financial hurdles and international trade disputes. Under the Lee Myung-bak government, Han was appointed ambassador to the United States where he effectively garnered support from the U.S. Congress for the approval of the South Korea–U.S. Free Trade Agreement. An associate close to him shared, "Concerned about how adversarial internal politics and intensifying worldwide trade confrontations could potentially turn South Korea into a 'stagnant economy,' Han felt compelled to contemplate running for president."