As the 1952 presidential elections neared, Rhee made public his intention to organize a party during his August 15 Speech in 1951.

One of the main values of Ilminism was the Hongik Ingan, based on traditional conservatism, and the Students Protection Corps [ko], which is said to be similar to Hitlerjugend.

[16][17] As its national values during its reign, the Liberal Party put forward "anti-communist and anti-Japanese" (반공 반일; 反共反日) sentiments.

[17][18][19] At the same time, the Liberal Party showed a very pro-American tendency,[1][20][21] so it was closer to right-wing populism than resistance nationalism.

[18][19] The Liberal Party supported a discriminatory policy against hwagyo (화교; 華僑) based on Korean ethnic supremacy and anti-PRC sentiment.