By appointing President Park Geun-hye’s former economic strategist as its election campaign chief, the main opposition Minjoo Party of Korea has revived what was once the nation’s top policy keyword ― economic democratization.

The entry of the distinguished public figure was also seen to indicate the party’s resolve to rise above the recent chain defections of senior party members and the growing competition with Ahn Cheol-soo’s new political party.

“The party that will gain people’s support in the upcoming general elections is one that can solve inequality and realize economic democratization,” said Kim Jong-in, announcing his acceptance to take the party’s election committee chairman post.

“People are already well aware of the harmful consequences of vague growth visions and irresponsible pump-priming policies.”

Kim, chair-professor of economics at Konkuk University and former four-term lawmaker, is best known for designing “economic democratization,” a policy aimed at lessening the wide gap among different economic classes.

The term was adopted as the top slogan by then-candidate Park Geun-hye, who struggled to build an image of reform and win over swing votes ahead of the 2012 presidential election.

However, soon after taking office Park switched her economic keyword to “creative economy” and reduced the progressive tone from her policies. This led to conflicts between Kim and the leadership which ended with him leaving the party in late 2013.

Kim had also led the enactment of Article 119 Clause 2 of the Constitutional Law in 1987, which obligates the state to maintain a balanced economic growth and to prevent the abuse of economic power.

“The top priority for our nation is to resolve one of the world’s worst income inequality and Kim, a symbol of economic democratization, will play a crucial role in following such a goal,” said party leader Moon Jae-in on Thursday.

Though the Park administration has given up on the idea, the concept of economic democratization should be carried forward, Moon claimed.

By underlining this relatively progressive economic vision once again, the Minjoo Party posed a clear challenge against the conservative camp. The ruling Saenuri Party and Cheong Wa Dae have been pushing ahead with a set of labor bills, which the Minjoo Party denounced as “aggravating the current employment inequality.”

The move also suggests that the main opposition party wishes to follow a progressive policy line, separating itself from the People’s Party, a forthcoming centrist party led by independent Rep. Ahn Cheol-soo.

The ruling camp was taken by surprise but feigned indifference.

“Having lost some half of its members, the opposition party should be in a rush to bring in outside figures by any means but we have no such need,” party chief Rep. Kim Moo-sung told reporters on Friday.

Party spokesperson Rep. Shin Eui-jin also issued a statement, accusing Kim of political inconsistency and the Minjoo Party of playing shallow political games ahead of elections.

Vice floor leader Rep. Cho Won-jin argued that the Minjoo Party has no say in economic policies as it has been holding back the pending reform and economic bills at the National Assembly.

Meanwhile, the arrival of the former Park aide received varied responses from within the Minjoo camp as well.

Back in 2014, then-floor leader and emergency council chief Rep. Park Young-sun attempted to recruit Chung-Ang University professor Lee Sang-don as economic strategist but was faced with a backlash due to Lee’s former affiliation with the Saenuri Party.

Even for those who see no objection to Kim’s title as the Minjoo election campaign chief, his scope of authority is still uncertain.

“I have consented on the precondition that I will be the sole and only head of the election committee,” Kim said.

His comments seemingly contradicted party leader Moon’s earlier statement that a cochairmanship is under consideration. Moon later added that the issue is Kim’s decision to make.

By Bae Hyun-jung (tellme@heraldcorp.com)