The Lee Jae Myung administration has finalized 123 national policy tasks to be pursued over the next five years, headlined by plans to introduce a four-year, two-term presidency and runoff voting.

The blueprint, confirmed at a Cabinet meeting that Lee chaired on Tuesday, also proposes placing the Board of Audit and Inspection under the National Assembly and limiting presidential veto power.

Other elements include the separation of prosecutorial investigation and indictment, regaining wartime operational control, signing an inter-Korean basic agreement and fostering new industries such as artificial intelligence to make Korea a global top-five biopharma and AI power.

For balanced regional development, the plan calls for completing the administrative capital project in Sejong and relocating a second wave of public institutions.

Lee said the plan is rooted in the people’s will, stressing that all power ultimately comes from the public and warning that no one who holds such power should mistake it for their own.