hankyoreh

As former Grand National Party chairman Lee Hoi-chang is scheduled to officially announce his bid for the presidency on Wednesday, all eyes are now on Park Geun-hye, who narrowly lost the party nomination to current GNP presidential frontrunner Lee Myung-bak, to pick its presidential nominee for the December election. Leading up to the announcement, the former chairman’s approval ratings stood at around 20 percent, soaring to the second spot. Whether he can eventually win the presidential election, however, will depend on his ability to form an alliance with former party chairwoman Park.

Close aides to Lee Hoi-chang said, “That really depends... Lee will surely think about whether to include that in his statement,” referring to the possible Lee-Park alliance.

Observers say that there are many reasons why the former party chairman should seek such an alliance with Park. Though he commands around 20-25 percent in approval ratings, a significant portion of the percentage overlaps with Park’s support base, meaning that failure to win her endorsement could shake his political foundation.

If he wins Park’s endorsement, Lee is likely to gain a valuable connection to her network, which will be essential for competition with the other presidential contenders. For this reason, rumor has it that Lee will promise a top spot in the party and support for the presidential nomination in the next election to Park in return for her support in this election.

However, a majority of political observers see such an alliance as a long shot. One party insider said, “The chances are zero.”

Beneath such pessimism lies Park’s pledge to respect the outcome of the primary. “There is no reason why Park would withdraw her support from Lee Myung-bak,” a close aide said. Another confidant said that she has no reason to risk her political position.

Some point out that Lee and Park stand in quite different political positions. Lee might see the December presidential election as a last attempt in his political career, but for Park, it is just the start of her journey to the presidency.

Still, it is anyone’s guess as to whether the two political heavyweights will joint hands.

One observer says that Park might decide to throw her support behind Lee Hoi-chang once she sees that Lee Myung-bak is not likely to win the election amid the mounting allegations of his involvement in stock price manipulation and other wrongdoing. “The chances are half and half,” he said.

Others say that Park might consider supporting Lee Hoi-chang when the current standard bearer’s approval rating falls below the 35-percent mark.

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