South Korea presidential election sees millions voting after conservative President Yoon Suk Yeol’s shocking ouster. His short-lived imposition of martial law in December sparked nationwide outrage and ultimately led to his impeachment and dismissal.
Lee Jae-myung Poised to Win in Landslide
Early surveys show liberal candidate Lee Jae-myung, of the Democratic Party, as the likely winner. His rise is fueled by public backlash over Yoon’s martial law decree and the broader decline in conservative support.
Former Gyeonggi governor and Seongnam mayor Lee has been divisive but continues to be popular because of his anti-elitist stance and reforming ambition. The impeachment of Yoon was spearheaded by his party.
Kim Moon Soo Struggles to Gain Traction
The main conservative candidate, Kim Moon Soo, has failed to capture moderates amid ongoing division within the People Power Party. He’s warned that a Lee presidency could bring excessive political power to the left and frame Lee as a potential strongman.
Kim served as labor minister under Yoon and has pushed to stabilize ties with the U.S. in response to Trump’s new protectionist policies.
A Snap Election Shows the Resilience of Democrats
The exceptional circumstances surrounding this election demonstrate South Korea’s resilience as a democracy. Yoon’s martial law controversy, which slowed down foreign policy and put financial markets into a frenzy, inspired voters.
Over 31 million ballots had been cast by 4 p.m., with a reported voter turnout of over 71.5%.
Lee’s domestic agenda: reconciliation and reform
- Lee pledges to: Restore financial stability
- Address inequality
- Resolve political differences
Critics, however, are concerned about his inconsistent and populist strategies. His rags-to-riches tale, according to his supporters, gives him the moral right to take on established elites.
Trump’s Tariffs Complicate Foreign Policy Outlook
Both Lee and Kim must face external challenges from Trump’s tariff hikes, particularly on steel and aluminum, which could further hit South Korea’s slowing economy.
Lee has advocated for patience with Trump, while Kim promises to meet him immediately to renegotiate terms.
South Korea’s central bank cut its 2025 GDP forecast to 0.8%, blaming Trump’s trade war and domestic instability.
North Korea Relations Remain Uncertain
Tensions with North Korea have simmered since 2019. Lee supports rekindling diplomacy but admits a summit with Kim Jong Un is unlikely soon. He backs Trump’s potential talks with Pyongyang, viewing them as a possible gateway to economic engagement.
Experts say market sensitivity and geopolitical risks will limit Lee’s actions in foreign affairs.
Source: AP News
