South Korea Gets a New President Is This the End of the Political Rollercoaster?

Heading: Liberal Lee Jae-myung Wins South Korean Presidency, Ending Months of Political Turmoil

South Korea has a new president. Liberal lawyer Lee Jae-myung has emerged victorious in the presidential election, ousting the candidate from the troubled ruling party and bringing an end to months of political instability that began with a controversial declaration of martial law.

Lee will be inaugurated on Wednesday after his conservative opponent, Kim Moon-soo of the People Power Party, conceded the race. Kim, aged 73 and the chair of the rival Democratic Party, congratulated Lee and humbly accepted “the choice of the people.”

Exit polls from major South Korean broadcasters indicated a comfortable win for Lee. A joint survey by KBS, MBC, and SBS projected Lee with 51.7% of the vote compared to Kim's 39.3%. This survey has historically aligned closely with final election results.

Speaking to his supporters, Lee, 61, pledged to "do my utmost to fulfill the great responsibility and mission entrusted to me without falling short of expectations," should his victory be confirmed by the National Election Commission.

A Tumultuous Backdrop

This election unfolded against a backdrop of significant political upheaval. Six months prior, then-President Yoon Suk Yeol's declaration of martial law sent shockwaves through the nation. Yoon cited threats from "anti-state forces" and accused the opposition-controlled parliament of paralyzing the government.

Key events leading up to the election include:

• Impeachment: Lawmakers, led by Lee, impeached Yoon on December 14 over the martial law order.
• Leadership Vacuum: South Korea was subsequently led by a series of acting presidents, hampering the nation's diplomatic efforts.
• Trade Tensions: The leadership vacuum complicated South Korea's negotiations with the U.S. regarding a proposed 25% tariff.

Lee directly addressed the martial law declaration in his victory speech, acknowledging the “hardship and protests” endured by the people. He emphasized that "this country belongs to ordinary citizens, that all powers exercised by the president come from the people, and that such powers must be used solely for the betterment of the people’s lives and the brighter future of our country — not for any private gain.”

Anger Over Affinity

While Lee's victory marks a significant shift in South Korean politics, analysts suggest that it was driven more by discontent with the former administration than by overwhelming support for Lee's policies.

"His victory is not thanks to any particular policy proposals, but rather a result of Yoon’s spectacular collapse," commented Leif-Eric Easley, a professor at Ewha Womans University in Seoul.

The martial law episode has left deep scars on South Korea, a nation with a history of military-authoritarian rule, exacerbating the existing polarization between liberals and conservatives.

Challenges Ahead

Lee's victory is not without its challenges. His vows to hold those involved in the martial law order accountable have sparked concerns about further political turmoil. Yoon is currently on trial, facing charges of insurrection, a crime that carries severe penalties.

Priorities for the new administration include:

• Addressing economic concerns and internal divisions.
• Securing a favorable trade deal with the United States.
• Mitigating the impact of the proposed 25% tariff and sector-specific levies on key exports.

Regarding trade negotiations with the U.S., Lee acknowledged the potential for pressure tactics. "That’s a kind of political behavior exhibited by powerful nations, and we must endure it well,” he stated, adding, “If the president of the Republic of Korea’s kowtowing briefly would allow 52 million people to thrive, then he must do so."

Despite the challenges, Lee expressed confidence in South Korea's negotiating position. “We have a fair number of cards to play,” he said. “There are things to give and take on both sides.”

Lee Jae-myung's ascent to the presidency marks a pivotal moment for South Korea. As he steps into office, the nation watches with anticipation, hopeful that he can steer the country toward stability, prosperity, and a brighter future. The path ahead will undoubtedly be complex, but Lee's commitment to democratic values and the well-being of the South Korean people provides a foundation for optimism and progress.

Tags: South Korea, Lee Jae-myung, Kim Moon-soo, Election Result, President, Political News, Liberal Lawyer, Democratic Party, People Power Party, South Korea Politics

Source: https://www.nbcnews.com/world/asia/south-korea-presidential-election-results-lee-jae-myung-rcna210547