Ruling party presidential candidate Lee Jae-myung on Tuesday argued for a shift to a four-year presidential term, renewable once, from the current single five-year term, saying he is willing to opt for a shorter term if elected.

"For responsible politics, (South Korea) needs a double, four-year term under which power is decentralized," Lee of the Democratic Party said during an interview with cable channel MBN.

"Five years is not a span (sufficient for a president) to plan, enact and execute policies and see the results," the presidential candidate said.

He said a constitutional amendment for that shift is needed now, and he is more than willing to accept a shorter four-year term if elected president.

"It's not such a grave thing to shorten the term by a year when it could rewrite the country's blue print and law books," he said when asked whether he will accept a shorter presidential term if elected. (Yonhap)