South Korea's Democratic Party presidential candidate Lee Jae-myung pledged in a Facebook post on Monday to bring in a production tax credit of up to 10% for semiconductors manufactured and sold domestically,

Lee Jae-myung, a liberal who wants greater economic parity in South Korea and warmer ties with North Korea, became the main opposition party's presidential candidate Sunday, solidifying his position as front-runner to succeed recently ousted conservative President Yoon Suk Yeol.

South Korea’s opposition Democratic Party named Lee Jae-myung, the party’s ex-leader, as its candidate for the snap presidential election.