Seoul: Lee Jae-myung, the liberal opposition candidate and former Gyeonggi governor, has been elected South Korea’s next president, closing a turbulent political chapter and ushering in hopes of national unity and economic recovery.
The 60-year-old leader of the Democratic Party won 49.3 percent of the vote in Tuesday’s early election, defeating conservative contender Kim Moon Soo, who conceded with 41.3 percent after more than 99 percent of ballots were counted by early Wednesday.
Lee will take office immediately, succeeding Yoon Suk Yeol, whose presidency collapsed following his imposition of martial law in December. Speaking to a crowd of supporters in Seoul, Lee said that, “Let us move forward with hope and make a fresh start from this moment on.”
Lee, known for his rise from child laborer to national leader, has long campaigned on tackling inequality and corruption. His victory comes amid deep public frustration with conservative leadership and widespread economic concern.
On foreign policy, Lee has promised a pragmatic approach, reaffirming the alliance with the United States while pledging to strengthen ties with Japan. Though previously accused of favoring North Korea and China, Lee emphasized that security and diplomacy would remain balanced and realistic.
He acknowledged that a summit with North Korea’s Kim Jong Un is unlikely in the short term but supported renewed US-North Korea diplomacy, including outreach by President Donald Trump.
Economic challenges loom large, with Trump’s announcement of a 50 percent tariff on South Korean steel and aluminum heightening concerns. South Korea’s central bank recently cut its 2025 growth forecast to 0.8 percent, citing external shocks and political instability.
Lee urged patience in trade talks, warning against rushing negotiations. Meanwhile, domestic expectations are high that his administration will restore political stability and promote long-term reform.
While Lee pledged to hold those involved in Yoon’s martial law accountable, critics warn that his administration must avoid retaliatory politics to preserve democratic progress.
