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SEOUL: South Korean President Lee Jae Myung affirmed on Friday that he has no plans to seek another term in office, a position currently barred by the nation's constitution. Concerns have emerged regarding whether Lee and his Democratic Party, which maintains a parliamentary majority, might attempt to amend the constitution to allow him to run for re-election.

The South Korean leader stated unequivocally, "I have no intention of seeking a consecutive term whatsoever," during a televised news conference. In August, Lee expressed his preference for altering the country's presidential term structure to a four-year system, which would permit a president to serve multiple terms while shifting certain presidential powers to the parliament.

The constitution presently restricts the presidency to a single five-year term, and the incumbent president is explicitly prohibited from advocating for any amendment concerning the presidency. Lee also pledged to advance the redistribution of the current capital, Seoul, and establish a distinct economic capital, Seoul, along with a political capital in Sejong.

Numerous government agencies are already situated in Sejong, located in South Korea's central region, approximately 120 kilometers (75 miles) south of Seoul.