Lee Jae-myung elected South Korea president, to prioritise economic recovery

Lee faces a raft of challenges, from a slowing economy and ageing population to geopolitical tensions.
Lee Jae-myung
Lee Jae-myung
Updated on
2 min read

Opposition leader Lee Jae-myung has been elected South Korea’s next president, securing a clear victory in a snap election after months of political turmoil triggered by martial law. Official results showed him leading by nearly 3 million votes, prompting rival Kim Moon-soo of the ruling People Power Party to concede early Wednesday and accept the public’s decision.

6 months of political turmoil

Lee’s win comes six months after former president Yoon Suk Yeol’s failed attempt to seize power through martial law. Lawmakers quickly overturned the decree, impeached Yoon, and forced his removal in April. Since then, South Korea has been led by a series of interim leaders.

The snap election saw voter turnout approach 80%—the highest since 1997—highlighting public demand for stability. Addressing supporters in Seoul, Lee pledged to prioritise economic recovery and prevent any future military coups.

Analysts say Lee’s win could restore order and strengthen governance, especially as his Democratic Party already controls parliament.

Promises to support small businesses

A former human rights lawyer from a poor background, Lee has served as mayor, governor, and lawmaker. He survived an assassination attempt in 2024 and played a key role in resisting Yoon’s martial law declaration. On the campaign trail, he pledged constitutional reforms, support for small businesses, and growth in the AI sector.

However, Lee remains a controversial figure, facing several legal cases involving alleged bribery and election law violations—charges he strongly denies, calling them politically motivated.

On foreign policy, Lee’s team has emphasised restoring trust with the US, while maintaining dialogue with China and Russia. His advisers have stressed that the alliance with Washington will remain the “cornerstone” of South Korea’s diplomacy. Meanwhile, trade talks with the US continue, as the country grapples with Trump-era tariffs.

Lee faces a raft of challenges, from a slowing economy and ageing population to geopolitical tensions on the Korean Peninsula.

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