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The Korean Democratic Party, often discussed in the context of South Korea's political landscape, is not a currently active or major political entity as of our last update in 2023. However, the term might be confused with or refer to historical parties or factions within South Korea's dynamic political history, or it might be a misnomer for existing parties with similar names. South Korea's political scene is characterized by a fluidity of party names, mergers, and dissolutions, making it somewhat complex.

Historically, there have been several iterations of parties with…   "Democratic" in their names, reflecting a broad commitment to democratic principles, social justice, and economic development tailored to the needs of the Korean people. These parties have often advocated for policies aimed at enhancing the welfare state, promoting civil rights and liberties, and pursuing a more equitable economic model that balances growth with social cohesion.

In the broader sense, when referring to democratic values within the context of South Korean politics, it generally encompasses a commitment to the principles of liberal democracy, including the protection of individual rights, the rule of law, free and fair elections, and the separation of powers. Economic policies among parties that identify as democratic or center-left in South Korea typically focus on reducing income inequality, improving labor rights, and expanding social safety nets, while also supporting a competitive market economy.

It's important to note that the political landscape in South Korea is quite dynamic, with parties often undergoing significant transformations, including changes in their names, ideologies, and leadership. Therefore, when discussing the Korean Democratic Party or similar entities, it's crucial to specify the time period or context to avoid confusion, as the values and objectives of these parties can evolve significantly over time.