Lee Jae-myung, the opposition Democratic Party of Korea candidate, is projected to win the snap presidential election with more than 50 percent of the vote. According to exit polls, Lee secured over 53 percent of the votes, while Kim Moon-soo of the governing conservative People Power Party trailed behind with about 39 percent in the Snap Presidential election held in South Korea.
Lee thanked voters in brief comments outside his home in Incheon, saying, “Although the votes are still being counted, I express my gratitude to the people who made the great decision of voting. I carry a heavy burden with me. I will do my best to fulfil the big responsibility and mission given to me so as not to fall short of our people’s expectations.”
The election was held after former President Yoon Suk-yeol was impeached and removed from office over his martial law decree. Analysts note that despite the controversy, the conservative bloc remains strong, with Kim Moon-soo winning around 40 percent of the votes. Robert E Kelly, a professor of political science at Pusan National University, commented, “Not even the impeachment of a South Korean conservative president could sway conservative voters. If anything should lead to a wave election, it should be impeachment… That’s how polarized South Korean politics is.”
The new president will face significant challenges, including tariff negotiations with the United States, easing tensions with North Korea, and balancing relations with the US and China. Domestic issues, such as stalled economic growth and deep divisions over Yoon’s martial law bid, will also need to be addressed. Lee has pledged to prioritize changing the constitution to make it harder to enact martial law.
Lee Jun-seok, the New Reform Party candidate who finished third in the exit polls, conceded defeat and congratulated Lee on his projected win. “The exit polls suggest Lee Jae-myung will be elected as the president, and I expect him to make careful and accurate decisions on national unity and the economy,” he said.