The New Wave (Korean: 새로운물결, abbreviated as 새물결; Saemulgyeol) was a self-proclaimed centrist political party[1] in South Korea created to assist in Kim Dong-yeon's run in the 2022 South Korean presidential election.

History

The New Wave Party was formed in October 2021 to assist career civil servant and former Deputy Prime Minister Kim Dong-yeon's run in the 2022 presidential election. "As long as the current political ecosystem dominated by the two major parties remains, it is impossible to resolve structural problems that Korea has been suffering from for the past 20 years," Kim said during the party's founding ceremony. Kim denied merging his new party with the two ruling parties in Korea, the Democrats and People Power.[2][3]

Cho Jung-hoon, proportional representative Member of Parliament for Transition Korea, expressed his support for the creation of the Party.

On 24 October 2021, the Party adopted four key "visions:"[citation needed]

  • Create a ‘Youth Investment Nation’ by creating a youth startup paradise
  • Work-based government through regulatory reform.
  • Resolve ‘opportunities polarization’ in income, real estate, and education
  • ‘Political reforms’ to break the winner-take-all political structure, including a 3-year limited decentralized Presidency.

On 7 April 2022, party leader Kim Dong-yeon agreed to merge the New Wave with the Democratic Party of Korea to promote change in politics and national unity.[4] The merger was completed by 15 April 2022.

Election results

Election Location Candidate Votes % Place Result
2022 President Nationwide Kim Dong-yeon 0 0% Withdrew
2022 By-Election Parliament; Jong-ro District Song Moon-hee 535 0.56% 7 of 12 Loss

References

  1. ^ a b c "김동연 "새로운 물결 창당…정치 교체하겠다" (Kim Dong-yeon launches new Party "Founded New Wave… Politics will change.")". iDaegu. 28 August 2021.
  2. ^ "Kim Dong-yeon, career civil servant seeking to create 'new wave' in Korean politics". 29 October 2021.
  3. ^ "(2nd LD) Ex-ruling party leader vows to support Lee Jae-myung's presidential campaign". 24 October 2021.
  4. ^ "Ruling DP and Minor NWP Agree to Merger".