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President Lee Jae-myung speaks during a Cabinet meeting at the presidential office in Yongsan, Seoul, on July 1. / Source: Yonhap News

President Lee Jae-myung has wrapped up a hectic first month in office, sprinting through key economic and diplomatic initiatives without a presidential transition committee. Focused on livelihood, pragmatism, and speed, Lee has tackled domestic recovery with a 30.5 trillion won ($22 billion) supplementary budget, nominated a new prime minister and 16 ministerial candidates, and made his diplomatic debut at the Group of Seven (G7) summit—all within 30 days.

On his first day in office on June 4, Lee issued an executive order to establish an emergency economic task force, underscoring his priorities. His first public event was a visit to the Korea Exchange in Yeouido, Seoul, where he vowed to modernize the stock market. He announced a "one-strike-out" rule against unfair trading and pushed for greater dividend payouts to make equities as attractive as real estate. The announcement helped propel the KOSPI index above the 3,000 mark for the first time in three and a half years on June 20.

In the weeks that followed, Lee hosted a roundtable with the heads of Korea’s five largest conglomerates, including Samsung Electronics Chairman Lee Jae-yong, and attended the launch of the Ulsan AI Data Center. His nominations of industry veterans from Doosan Enerbility, LG, and Naver to key economic ministries such as Trade, ICT, and SMEs were seen as a signal of his administration's commitment to reviving the economy and fostering future growth sectors.

Lee’s diplomatic activities also moved swiftly. On just his 12th day in office, he attended the G7 summit in Canada, where he presented South Korea’s democratic resurgence and kicked off his so-called “diplomacy for livelihoods” through meetings with leaders including Japan’s prime minister.

However, a planned summit with U.S. President Donald Trump fell through due to Trump's early departure from the G7. With a July 8 deadline looming on Washington’s proposed mutual tariff suspension, Lee is now urgently working behind the scenes to reschedule talks and finalize key discussion points.

Another pressing challenge for the president is curbing surging home prices in the greater Seoul area. The presidential office says it will closely monitor the impact of a sweeping set of loan regulations announced last week before deciding on further policy measures.

On July 3, President Lee will hold a press conference titled “30 Days of the Presidency: Questions from the Press, Answers from the People.”