Liberal candidate Lee Jae-myung has become South Korea’s new president in the early hours of Wednesday (local time), in keeping with exit polls that showed his party's comfortable lead of 48.523 per cent over his conservative rival, Kim Moon-soo.
This election had been triggered by his predecessor Yoon Suk-yeol, who was impeached after imposing a brief period of martial law in the country, early in December.
“I will do my utmost to fulfil the great responsibility and mission entrusted to me, so as not to disappoint the expectations of our people,” Lee told reporters before the declaration of the results.
Despite once publicly comparing a Lee-led government to a “Hitler-like dictatorship”, Kim conceded to his rival in the early hours of Wednesday morning (local time).
However, the 61-year-old former human rights lawyer's new presidency will be anything but smooth sailing, as he inherits Asia's fourth-largest economy, fractured after Yoon's halved presidency. The country is also battling an economic crisis, income disparities and doubts over America's commitment to its security under Donald Trump.
Following two failed attempts to reach the Blue House, Lee, who spearheaded the opposition campaign to impeach Yoon, will also face criminal proceedings for various charges, including bribery and alleged involvement in a property development scandals, all of which had been paused to let the elections take place. Lee denies all charges, calling them politically motivated.
His populist government now seeks to distance itself from Yoon's confrontational stance towards relations with volatile neighbour North Korea, a task he has admitted would take time. However, he also plans to adopt a foreign strategy similar to Yoon's, in the country's relations with the US and Japan.
