The election results demand bipartisanship

President Yoon must first reach out to the opposition and sit down with its leader, Lee Jae-myung, to address the crisis.

In a democracy, elections serve to uphold the public will and act as a watershed moment for a change of course in running the state. The results of the April 10 parliamentary elections demand bipartisanship from the two major parties as a necessity and not a choice. The governing People Power Party (PPP) grabbed only 108 seats in the 300-member National Assembly while the Democratic Party (DP) took 175 seats and the fledgling Rebuilding Korea Party (RKP) 12.

When the two opposition parties with a liberal background join forces, they can interfere and thwart all policies the government and the PPP want to push. And yet, the opposition front falls short of the 200-vote threshold that can invalidate any presidential veto against their unilateral push for bills. The structure portends a vetocracy where no single party retains power enough to make decisions and take effective charge.

Such political gridlock prevailed throughout the last two years of Yoon Suk Yeol’s presidency. But the phenomenon could further worsen as apathy and rage hit boiling point during the campaign period to the extent of the opposition talking of impeaching President Yoon. If such paralysis continues, the presidential office or the legislature will not be able do their fair share until Yoon finishes his term in May 2027.

After snatching 12 seats in the election, former Justice Minister Cho Kuk — the leader of the RKP — vowed to push for a bill to appoint a special prosecutor to look into the alleged corruption of first lady Kim Keon Hee if the prosecution does not summon her “immediately.” Whether the conservative president will change his unilateral governing style, which contributed to the PPP’s crushing defeat in this election, is also uncertain.

Bipartisanship will not be easy, but the country is running out of options. The pension, labor and education reforms the Yoon administration pursues are essential to address the country’s grave demographic woes stemming from the world’s lowest birthrate and fastest aging. Even if the DP had taken power, it would have faced the same challenge. As such unpopular reforms cannot succeed without the backing from the legislature, support from the majority DP is desperately needed.

Given the rapid aging of our population, there cannot be any other solutions than “Pay more, receive less.” That will pose a serious challenge to the 22nd National Assembly. Despite commanding the majority, the former Moon Jae-in administration did not take up the unpopular task. As a result, the sustainability of the national pension fund continues to worsen. But the current government alone cannot push for the pension reform due to a critical lack of legislative seats. It won’t hurt the DP to go along with the unwelcome task, as the party can lessen the burden when it retakes the governing power. All other hard yet necessary reforms in the medical sector, labor market, university restructuring, tax code revamp and economy also depend on bipartisanship.

Deteriorating fiscal conditions also constrain the government’s maneuvering room. According to the government’s 2023 settlement of account report, national liabilities expanded by 59.4 trillion won ($43 billion) on year to 1126.7 trillion won last year. The country’s national debt-to-GDP ratio soared to 50.4 percent for the first time. If the government had sufficient fiscal ammunition, it could make amends for the reform with other incentives. Against such a grim backdrop, the government and the PPP have no other choice but to seek cooperation from the opposition.

Geopolitical winds are also turning precarious. If Donald Trump returns to the White House, Korea’s alliance with the United States could face major setbacks. If Trump unilaterally renews dialogue with Pyongyang, Seoul once again could be excluded from the discussion on the future of the Korean Peninsula. The United Nations’ watch over international sanctions on North Korea could sharply weaken after Russia vetoed the continuance of the Panel of Experts assisting the Sanctions Committee. The frost in the relationship between Seoul and Beijing also shows no sign of thawing, not to mention a re-ignition of the Middle East conflict from Iran's missile and drone attacks on Israel. Bipartisan diplomacy through united legislative voices will certainly help strengthen Korea’s assertiveness on the external front.

But no breakthrough is possible unless President Yoon changes. Yoon said he “humbly” accepts the public’s will that was revealed through this election and vowed to overhaul governance to better address economic and other issues. He must first reach out to the opposition and sit down with DP leader Lee Jae-myung, whom the president has not met since their presidential election race two years ago. A policy council meeting among the PPP, the DP and the government needs to be held regularly to reflect the voices of the opposition.

Since all the senior staff of the presidential staff and members of the Cabinet offered to resign, it would be a good idea to form a coalition government by seating a prime minister approved by the DP and recruiting capable opposition figures in the Cabinet. The DP also needs to cooperate eagerly, as it can easily face a political backlash if it opposes just for opposition’s sake. The country cannot afford another four years going down the drain from a dysfunctional legislature and executive branch.